Accounting Policies of Conart Engineers Ltd. Company

Mar 31, 2025

CORPORATE INFORMATION

Conart Engineers Limited is a Public Limited company incorporated in India having CIN L45200MH1973PLC017072. The registered address of its Corporate Office is at 17, Ground Floor, Jay Bharat Society, Nr. Solanki Palace, 3^rd Road Old Khar, Khar West, Mumbai - 400 052 and Branch Office is 2^nd Bombay Shopping Centre, R. C. Dutt Road, Vadodara - 390 007. The company is engaged providing full range of General Contracting and Project Management Services for Industrial, Commercial, and Residential Construction projects. The Company provides service to sectors like Heavy Machinery, Pharmaceuticals, Chemicals, Textiles, and Educational. Our experience has been Four decades long. Majority of our projects are awarded from Private Sectors clients and are based on At-Risk Contracting.

The financial statements for the year ended March 31,2025 were approved by the Board of Director and authorized for issue on 27^th May,2025.

NOTE - “2” :SIGNIFICANT ACCOUNTING POLICIESa. STATEMENT OF COMPLIANCE

These standalone financial statements have been prepared in accordance with the Indian Accounting Standards (referred to as “Ind AS”) prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules as amended from time to time.

b. BASIS OF ACCOUNTING

These financial statements have been prepared on the historical cost basis, except for certain financial instruments which are measured at fair values at the end of each reporting period, as explained in the accounting policies below.

Historical cost is generally based on the consideration given in exchange for goods and/or services.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

c. Current and non-current classificationI. Assets

The entity classifies an asset as current when:

(a) it expects to realise the asset, or intends to sell or consume it, in its normal operating cycle;

(b) it holds the asset primarily for the purpose of trading;

(c) it expects to realise the asset within twelve months after the reporting period; or

(d) the asset is cash or a cash equivalent unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as non-current.

II. Liabilities

The entity classifies a liability as current when:

(a) it expects to settle the liability in its normal operating cycle;

(b) it holds the liability primarily for the purpose of trading;

(c) the liability is due to be settled within twelve months after the reporting period; or

(d) it does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. Terms of a liability that could, at the option of the counterparty, result in it settlement by the issue of equity instruments do not affect its classification.

All other liabilities are classified as non-current.

The operating cycle considered as 12 months by the management

d. Use of estimates

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption used in the accompanying Financial Statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying Financial statements.

e. Property plant and equipment

The cost of an item of property, plant and equipment comprises of purchase price, including import duties and taxes (other than those subsequently recoverable by the entity from the taxing authorities), after deducting trade discounts and rebates, and including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

After recognition as an asset, an item of property, plant and equipment is carried at its cost less any accumulated depreciation and accumulated impairment losses, if any.

Depreciation is provided on the Straight-Line Method at the manner prescribed under schedule II of the companies Act, 2013. The useful life of the asset is considered as prescribed under schedule II of the Companies Act, 2013

The residual values, useful lives and methods of depreciation of Property, Plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

Gains or loss arising from derecognition of a Property, Plant and Equipment are measured as the difference between net disposal proceeds and the carrying amount.

f. Investment property

The investment properties held by the company are valued at cost at which comprises its purchase price and any directly attributable expenditure. There is no existence and amounts of restrictions on the realisability of investment property or the remittance of income and proceeds of disposal nor are there any contractual obligations.

All the investment properties has generated income through rental income during the year under consideration

The company is not provided any depreciation on the investment properties as the said properties are held for sale, as the intention of the company is to recover the principal amount through sale transaction rather than through continuing use.

g. Intangible assets

a) Measurement at recognition:

Intangible assets acquired separately are measured on initial recognition at cost. Subsequently, intangible assets are carried at cost less accumulated amortization and accumulated impairment loss, if any.

b) Amortization:

Intangible Assets are amortized on a Straight-Line basis over the estimated useful economic life. The amortization expense on intangible assets is recognized in the Statement of Profit and Loss. The estimated useful life of software is considered as per schedule II of the companies Act, 2013. The amortization period and the amortization method for an intangible asset is reviewed at the end of each financial year. If any of these expectations differ from previous estimates, such change is accounted for as a change in an accounting estimate.

c) De-recognition:

The carrying amount of an intangible asset is derecognized on disposal or when no future economic benefits are expected from its use or disposal. The gain or loss arising from the de-recognition of an intangible asset is measured as the difference between the net disposal proceeds and the carrying amount of the intangible asset and is recognized in the Statement of Profit and Loss when the asset is derecognized.

h. Impairment of non-financial assets

The company assesses at each reporting date as to whether there is any indication that Property, Plant and Equipment or intangible assets may be impaired. If any such indication exists, the recoverable amount of an asset is estimated to determine the extent of impairment.

Impairment loss, if any, is recognised in the statement of profit and loss to the extent the carrying amounts of assets exceeds their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use.

Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life.

Net selling price is the amount obtainable from the sale of an asset in an arms-length transaction between knowledgeable, willing parties, less the costs of disposal.

The impairment loss recognised in prior accounting period is reversed if there has been change in estimate of recoverable amount.

i. Financial Instruments:

i) Financial Assets

a. Initial Recognition and measurement

The entity recognizes a financial asset in its balance sheet only when, the entity becomes party to the contractual provisions of the instrument. All financial assets except trade receivables are measured at fair value. Transaction cost that are directly attributable to the acquisition or issue of financial assets, which are not at fair value through profit and loss, are adjusted to the fair value on initial recognition.

A regular way purchase or sale of financial assets are be recognised and using trade date accounting

b. Subsequent Measurement

i) Financial Instruments measured at Amortised Cost (AC)

A financial asset is measured at amortized cost if it is held within business model where objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset gives rise on specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

ii) Financial Instruments measured at Fair Value through Other Comprehensive Income (FVTOCI)

A Financial asset is measured at FVTOCI if it is held within the business model where objective is achieved by both contractual cash flows and selling of financial assets and contractual terms of financial assets give rise on specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding

iii) Financial Instruments measured at Fair Value through Profit or Loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at FVTPL

c. Impairment of Financial Assets

The Company assesses at each date of balance sheet whether a financial asset or a group of financial assets are impaired.

In accordance with IND AS 109, the company uses ‘Expected Credit Loss (ECL)’ model, for evaluating impairment of financial assets other than those measured at Fair value through Profit and Loss (FVTPL).

Expected credit losses are measured through loss allowance at an amount equal to:

a. The 12-months expected credit losses (expected credit losses that result from those default events on the financial instrument that are possible within 12 months after the reporting date); or

b. Full life time expected credit losses (expected credit losses that result from all possible default events over the life of financial instruments)

For trade receivables the company applies ‘simplified approach’ which requires expected lifetime losses to be recognized from initial recognition of trade receivables.

The company uses historical default rates to determine impairment loss on the portfolio of trade receivables. At every reporting date these historical default rates are reviewed and changes in the forward looking estimates are analyzed

For other assets, the company uses 12-month ECL to provide for impairment loss where there is no significant increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

ii) Financial Liabilities

i) Initial Recognition and Measurement

The entity recognizes a financial liability in its balance sheet only when, the entity becomes party to the contractual provisions of the instrument. All financial liabilities are measured at fair value. Transaction cost that are directly attributable to the acquisition or issue of financial assets, which are not at fair value through profit and loss, are adjusted to the fair value on initial recognition.

ii) Subsequent measurement

Financial Liabilities are carried at amortized cost using effective interest method

For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximates fair value due to short maturity of these instruments.

iii) De-recognition of Financial Instruments

The company derecognizes a financial asset when the contractual rights to the cash flow from the financial asset expires or it transfers the financial asset and the transfer qualifies for de-recognition as per IND AS 109.

Financial liability (or part of financial liability) is derecognized from the company’s balance sheet when obligation specified in the contract is discharged or cancelled or expired.

iv) Offsetting

Financial assets and Financial liabilities are offset and the net amount is presented in the balance sheet when, and only when, the company has legally enforceable right to set-off the amount and it intends, either to settle them on a net basis or to realize the asset and settle the liability simultaneously.

j. Income taxes

The tax expense for the period comprises of current tax and deferred income tax. Tax is recognized in the statement of profit and loss, except to the extent that it relates to items recognized in other comprehensive income or in equity. In which case, the tax is also recognized in other comprehensive income or equity.

i) Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the income tax authorities, based on tax rates and laws that are enacted at balance sheet date.

ii) Deferred Tax

Deferred tax is recognized on temporary differences between carrying amounts of assets and liabilities in financial statements and the corresponding tax bases used in computation of taxable profit.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period in which the liability is settled or the assets realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by end of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each reporting period

k. Inventories

Construction materials are valued at lower of cost or net realizable value, on the basis of weighted average method after providing for obsolescence and other losses, where considered necessary. Cost of inventory comprises all costs of purchase, duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in bringing the inventory to their present location and condition.

Work-in-progress represents cost incurred directly in respect of construction activity and indirect construction cost to the extent to which the expenditure is related to the construction or incidental thereto is valued at lower of cost or net realizable value

Amount of work in progress certified / billed in the subsequent year is pro-rated for the year under review, based on number of days involved.

Stocks of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life of such material used.

Stock of raw materials is valued at cost or net realizable value, whichever is lower.

Finished goods are valued at cost or market value, whichever is lower.

l. Cash and cash equivalents

Cash and cash equivalents comprise of cash on hand, balances with banks, short-term deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and having original maturity of three months or less.

m. Equity instruments

An equity instrument is a contract that evidences residual interest in the assets of the company after deducting all of its liabilities.

n. Provisions and contingent liabilities

The Company creates a provision where there is present obligation (legal or constructive) as a result of past event that probably requires an outflow of resources embodying economic benefits and a reliable estimate can be made of the amount of the obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resource is remote, no provision or disclosure is made.

o. Contract receipts / revenue recognition

Revenue is recognized when it is probable that economic benefits associated with a transaction flows to the Company in the ordinary course of its activities and the amount of revenue can be measured reliably.

Revenue is measured at the fair value of the consideration received or receivable.

Contract revenue:

Contract revenue includes the initial amount agreed in the contract plus any variations in contract work, claims and incentive payments, to the extent that it is probable that they will result in revenue and can be measured reliably. When the outcome of a construction contract can be estimated reliably, contract revenue is recognised in the statement of profit or loss in proportion to the stage of completion of the contract. The stage of completion is assessed by reference to surveys of work performed. When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of contract costs incurred that are likely to be recoverable. Full provision is made for any loss in the year in which it is first foreseen. Cost incurred towards future contract activity is classified as project work in progress.

Revenue from operations is measured at fair value of the consideration receivable or received, taking into account contractually defined terms of payment and excluding taxes collected on behalf of the government.

In respect of contracts executed, the company accounts for income to the extend of work completed, on the basis of invoices certified. Uncertified contract receipts are determined on technical estimates.

Material supplied by the clients in accordance with the terms of contract is not taken into account as contract receipts. Prices, escalations and de-escalations are accounted as and when certified.

Sale of goods & Services:

Revenue from sale of goods is recognized when the Company transfers all significant risks and rewards of ownership to the buyer, while the Company retains neither continuing managerial involvement nor effective control over the goods sold.

Revenue from rendering of services is recognized when the performance of agreed contractual task has been completed. Interest and dividend:

Interest income is recognized using effective interest method.

Dividend income is recognized when the right to receive payment is established.

p. Employee benefit expenses Short Term Employee benefits

The undiscounted amount of short-term employee benefits expected to be paid in exchange of the services rendered by employees are recognized as an expense during the period when the employees render the services.

Post-Employment Benefits

Defined Contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions to separate entities. The Company makes specified monthly contributions towards Provident Fund, State Insurance, and Pension Scheme. The Company’s contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the employee renders the related service.

The company also provides retirement benefits in the form of Gratuity on the basis of valuation, as at the Balance Sheet date. Gratuity liability is covered by a Group Gratuity policy with life insurance Corporation of India.

Defined Benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the Company at the time of resignation/superannuation.

The company also provides retirement benefits in the form of Gratuity on the basis of valuation, as at the Balance Sheet date. Gratuity liability is covered by a Group Gratuity policy with life insurance Corporation of India.

Re-measurement of Defined Benefit Plans in respect of Post-Employment are charged to other Comprehensive Income.

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Mar 31, 2024

SIGNIFICANT ACCOUNTING POLICIES

a. STATEMENT OF COMPLIANCE

These standalone financial statements have been prepared in accordance with the Indian Accounting Standards (referred to
as “Ind AS”) prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards)
Rules as amended from time to time.

b. BASIS OF ACCOUNTING

These financial statements have been prepared on the historical cost basis, except for certain financial instruments which
are measured at fair values at the end of each reporting period, as explained in the accounting policies below.

Historical cost is generally based on the consideration given in exchange for goods and/or services.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date.

c. Current and non-current classification

I. Assets

The entity classifies an asset as current when:

(a) it expects to realise the asset, or intends to sell or consume it, in its normal operating cycle;

(b) it holds the asset primarily for the purpose of trading;

(c) it expects to realise the asset within twelve months after the reporting period; or

(d) the asset is cash or a cash equivalent unless the asset is restricted from being exchanged or used to settle a liability
for at least twelve months after the reporting period.

All other assets are classified as non-current.

II. Liabilities

The entity classifies a liability as current when:

(a) it expects to settle the liability in its normal operating cycle;

(b) it holds the liability primarily for the purpose of trading;

(c) the liability is due to be settled within twelve months after the reporting period; or

(d) it does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting
period. Terms of a liability that could, at the option of the counterparty, result in it settlement by the issue of equity
instruments do not affect its classification.

All other liabilities are classified as non-current.

The operating cycle considered as 12 months by the management

d. Use of estimates

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported
amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption
used in the accompanying Financial Statements are based upon management''s evaluation of the relevant facts and
circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in
preparing the accompanying Financial statements.

e. Property plant and equipment

The cost of an item of property, plant and equipment comprises of purchase price, including import duties and taxes (other
than those subsequently recoverable by the entity from the taxing authorities), after deducting trade discounts and rebates,
and including any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable
of operating in the manner intended by management.

After recognition as an asset, an item of property, plant and equipment is carried at its cost less any accumulated depreciation
and accumulated impairment losses, if any.

Depreciation is provided on the Straight-Line Method at the manner prescribed under schedule II of the companies Act,
2013. The useful life of the asset is considered as prescribed under schedule II of the Companies Act, 2013

The residual values, useful lives and methods of depreciation of Property, Plant and equipment are reviewed at each
financial year end and adjusted prospectively, if appropriate.

Gains or loss arising from derecognition of a Property, Plant and Equipment are measured as the difference between net
disposal proceeds and the carrying amount.

f. Investment property

The investment properties held by the company are valued at cost at which comprises its purchase price and any directly
attributable expenditure. There is no existence and amounts of restrictions on the realisability of investment property or the
remittance of income and proceeds of disposal nor are there any contractual obligations.

All the investment properties has generated income through rental income during the year under consideration

The company is not provided any depreciation on the investment properties as the said properties are held for sale, as the
intention of the company is to recover the principal amount through sale transaction rather than through continuing use.

g. Intangible assets

a) Measurement at recognition:

Intangible assets acquired separately are measured on initial recognition at cost. Subsequently, intangible assets are
carried at cost less accumulated amortization and accumulated impairment loss, if any.

b) Amortization:

Intangible Assets are amortized on a Straight-Line basis over the estimated useful economic life. The amortization
expense on intangible assets is recognized in the Statement of Profit and Loss. The estimated useful life of software is
considered as per schedule II of the companies Act, 2013. The amortization period and the amortization method for an
intangible asset is reviewed at the end of each financial year. If any of these expectations differ from previous estimates,
such change is accounted for as a change in an accounting estimate.

c) De-recognition:

The carrying amount of an intangible asset is derecognized on disposal or when no future economic benefits are
expected from its use or disposal. The gain or loss arising from the de-recognition of an intangible asset is measured as
the difference between the net disposal proceeds and the carrying amount of the intangible asset and is recognized in
the Statement of Profit and Loss when the asset is derecognized.

h. Impairment of non-financial assets

The company assesses at each reporting date as to whether there is any indication that Property, Plant and Equipment or
intangible assets may be impaired. If any such indication exists, the recoverable amount of an asset is estimated to determine
the extent of impairment.

Impairment loss, if any, is recognised in the statement of profit and loss to the extent the carrying amounts of assets exceeds
their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use.

Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from
its disposal at the end of its useful life.

Net selling price is the amount obtainable from the sale of an asset in an arms-length transaction between knowledgeable,
willing parties, less the costs of disposal.

The impairment loss recognised in prior accounting period is reversed if there has been change in estimate of recoverable
amount.

i. Financial Instruments:

i) Financial Assets

a. Initial Recognition and measurement

The entity recognizes a financial asset in its balance sheet only when, the entity becomes party to the contractual
provisions of the instrument. All financial assets except trade receivables are measured at fair value. Transaction
cost that are directly attributable to the acquisition or issue of financial assets, which are not at fair value through
profit and loss, are adjusted to the fair value on initial recognition.

A regular way purchase or sale of financial assets are be recognised and using trade date accounting

b. Subsequent Measurement

i) Financial Instruments measured at Amortised Cost (AC)

A financial asset is measured at amortized cost if it is held within business model where objective is to hold the
asset in order to collect contractual cash flows and the contractual terms of the financial asset gives rise on
specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

ii) Financial Instruments measured at Fair Value through Other Comprehensive Income (FVTOCI)

A Financial asset is measured at FVTOCI if it is held within the business model where objective is achieved by
both contractual cash flows and selling of financial assets and contractual terms of financial assets give rise on
specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding

iii) Financial Instruments measured at Fair Value through Profit or Loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at FVTPL

c. Impairment of Financial Assets

The Company assesses at each date of balance sheet whether a financial asset or a group of financial assets are
impaired.

In accordance with IND AS 109, the company uses ''Expected Credit Loss (ECL)'' model, for evaluating impairment
of financial assets other than those measured at Fair value through Profit and Loss (FVTPL).

Expected credit losses are measured through loss allowance at an amount equal to:

a. The 12-months expected credit losses (expected credit losses that result from those default events on the
financial instrument that are possible within 12 months after the reporting date); or

b. Full life time expected credit losses (expected credit losses that result from all possible default events over the
life of financial instruments)

For trade receivables the company applies ''simplified approach'' which requires expected lifetime losses to be
recognized from initial recognition of trade receivables.

The company uses historical default rates to determine impairment loss on the portfolio of trade receivables. At
every reporting date these historical default rates are reviewed and changes in the forward looking estimates are
analyzed

For other assets, the company uses 12-month ECL to provide for impairment loss where there is no significant
increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

ii) Financial Liabilities

i) Initial Recognition and Measurement

The entity recognizes a financial liability in its balance sheet only when, the entity becomes party to the contractual
provisions of the instrument. All financial liabilities are measured at fair value. Transaction cost that are directly
attributable to the acquisition or issue of financial assets, which are not at fair value through profit and loss, are
adjusted to the fair value on initial recognition.

ii) Subsequent measurement

Financial Liabilities are carried at amortized cost using effective interest method

For trade and other payables maturing within one year from the balance sheet date, the carrying amounts
approximates fair value due to short maturity of these instruments.

iii) De-recognition of Financial Instruments

The company derecognizes a financial asset when the contractual rights to the cash flow from the financial asset
expires or it transfers the financial asset and the transfer qualifies for de-recognition as per IND AS 109.

Financial liability (or part of financial liability) is derecognized from the company''s balance sheet when obligation
specified in the contract is discharged or cancelled or expired.

iv) Offsetting

Financial assets and Financial liabilities are offset and the net amount is presented in the balance sheet when, and
only when, the company has legally enforceable right to set-off the amount and it intends, either to settle them on
a net basis or to realize the asset and settle the liability simultaneously.

j. Income taxes

The tax expense for the period comprises of current tax and deferred income tax. Tax is recognized in the statement of profit
and loss, except to the extent that it relates to items recognized in other comprehensive income or in equity. In which case,
the tax is also recognized in other comprehensive income or equity.

i) Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the income tax
authorities, based on tax rates and laws that are enacted at balance sheet date.

ii) Deferred Tax

Deferred tax is recognized on temporary differences between carrying amounts of assets and liabilities in financial
statements and the corresponding tax bases used in computation of taxable profit.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period in which the liability
is settled or the assets realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by
end of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each
reporting period

k. Inventories

Construction materials are valued at lower of cost or net realizable value, on the basis of weighted average method after
providing for obsolescence and other losses, where considered necessary. Cost of inventory comprises all costs of purchase,
duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in bringing the
inventory to their present location and condition.

Work-in-progress represents cost incurred directly in respect of construction activity and indirect construction cost to the
extent to which the expenditure is related to the construction or incidental thereto is valued at lower of cost or net realizable
value

Amount of work in progress certified / billed in the subsequent year is pro-rated for the year under review, based on number
of days involved.

Stocks of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life
of such material used.

Stock of raw materials is valued at cost or net realizable value, whichever is lower.

Finished goods are valued at cost or market value, whichever is lower.

l. Cash and cash equivalents

Cash and cash equivalents comprise of cash on hand, balances with banks, short-term deposits and short-term, highly liquid
investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes
in value and having original maturity of three months or less.

m. Equity instruments

An equity instrument is a contract that evidences residual interest in the assets of the company after deducting all of its
liabilities.

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Mar 31, 2015

A. BASIS OF ACCOUNTING

The Financial Statements are prepared to comply in all material aspects with the applicable accounting principal in India, the Accounting Standards issued by the institute of Chartered Accountants of India and the relevant provisions ofthe Companies Act, 1956.

The financial statements are prepared in accordance with the historical cost convention using the accrual method of accounting.

b. USE OF ESTIMATES

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption used in the accompanying Financial Statements are based upon management's evaluation of the relevant facts and circumstances as ofthe date ofthe financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying Financial statements.

c. FIXED ASSETS

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working condition for its intended use, less accumulated depreciation and impairment loss except plant & machinery, which have revalued, are stated at revalued figure.

d. DEPRECIATION

Depreciation is provided on the Straight-Line Method at the manner prescribed under schedule II of the companies Act, 2013. Till 31st March 2014 Depreciation was provided on the Straight-Line method at the rates & manner prescribed under schedule XIV ofthe companies Act, 1956. The Company has recalculated the depreciation as per schedule II ofthe companies Act, 2013 on the Assets and difference in the carrying amount as per schedule II of the companies Act, 2013 and schedule XIV ofthe companies Act, 1956, as on 31st March 2014 has been charged to Reserve & Surplus account.

e. INVENTORIES

i) Amount of work in progress certified /billed in the subsequent year is pro-rated for the year under review, based on number of days involved.

ii) Work in progress at initial stages is valued at cost.

iii) Stock of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life of such material used.

iv) Construction material at site has been valued, at lower of the cost and net realizable value.

v) Stock of raw materials is valued at cost or net realizable value, whichever is lower.

vi) Finished goods are valued at cost or market value, whichever is lower.

f. INVESTMENT

i) Long term investments are stated at cost. However, provision for diminution has been made if such diminution is permanent in nature.

ii) Current investments are stated at lower of cost and fair value.

g. CONTRACT RECEIPTS / REVENUE RECOGNITION

i) In respect of contracts executed, the company accounts for income to the extent of work completed, on the basis of invoices certified. Uncertified contract receipts are determined on technical estimates.

ii) Material supplied by the clients in accordance with the terms of contract is not taken into account as contract receipts.

iii) Prices escalations /de-escalations are accounted as and when certified.

iv) Other income is recognized on accrual basis.

h. RETIREMENT BENEFITS

Contribution to defined contribution schemes such as provident fund and superannuation are charged to the profit & loss as incurred. The company also provides retirement benefits in the form of Gratuity and leave encashment on the basis of valuation, as at the Balance Sheet date. Gratuity liability is covered by a Group Gratuity policy with life insurance Corporation of India.

i. FOREIGN CURRENCY TRANSACTIONS

Foreign currency transactions are recorded at the exchange rates prevailing on the date of transaction. Gains & Losses arising out of subsequent fluctuations are accounted for on actual payment or realization. Current assets & liabilities denominated in foreign currency as at the Balance Sheet date are converted at the exchange rates prevailing on that date. Exchange differences are recognized in the Profit & Loss Account.

j. TAXES ON INCOME

Current tax is determined as the amount of tax payable in respect of estimated taxable income for the year. Deferred tax is recognized subject to the consideration of prudence, on timing deference, being the difference between taxable income & accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

k. BORROWING COST

Borrowing cost incurred in relation to the acquisition, construction of assets are capitalized as the part of the cost of such assets up to the date when such assets are ready for intended use. Other borrowing costs are charged as an expense in the year in which these are incurred.

l. IMPAIRMENT OF ASSETS

Impairment loss is provided to the extent the carrying amounts of assets exceed their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Net selling price is the amount obtainable from the sale of an asset in an arms length transaction between knowledgeable, willing parties, less the costs of disposal.

m. PROVISIONS & CONTINGENT LIABILITIES

The Company creates a provision where there is present obligation as a result of past eventthat probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resource is remote, no provision or disclosure is made.

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Mar 31, 2014

A. BASIS OF ACCOUNTING

The Financial Statements are prepared to comply in all material aspects with the applicable accounting principal in India, the Accounting Standards issued by the institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

The financial statements are prepared in accordance with the historical cost convention using the accrual method of accounting.

b. USE OF ESTIMATES

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption used in the accompanying Financial Statements are based upon management''s evaluation of the relevant facts and circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying Financial statements.

c. FIXED ASSETS

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working condition for its intended use, less accumulated depreciation and impairment loss except plant & machinery, which have revalued, are stated at revalued figure.

d. DEPRECIATION

Depreciation is provided on the Straight-Line Method at the rates prescribed under schedule XIV of the companies Act, 1956. In respect of revalued plant & machinery the difference between the depreciation on revalued amount and original cost, calculated on Straight Line Method at the rates prescribed under Schedule XIV of the Companies Act, 1956, is charged to Capital revaluation Reserve.

e. INVENTORIES

i) Amount of work in progress certified /billed in the subsequent year is pro-rated for the year under review, based on number of days involved.

ii) Work in progress at initial stages is valued at cost.

iii) Stock of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life of such material used.

iv) Construction material at site have been valued, at lower of the cost and net realizable value.

v) Stock of raw materials is valued at cost or net realizable value, whichever is lower.

vi) Finished goods are valued at cost or market value, whichever is lower.

f. INVESTMENT i) Long term investment are stated at cost However, provision for diminution has been made if, such diminution is permanent in nature. ii) Current investments are stated at lower of cost and fair value.

g. CONTRACT RECEIPTS / REVENUE RECOGNITION i) In respect of contracts executed, the company accounts for income to the extend of work completed, on the basis of invoices

certified. Uncertified contract receipts are determined on technical estimates. ii) Material supplied by the clients in accordance with the terms of contract is not taken into account as contract receipts. iii) Prices escalations /de-escalations are accounted as and when Certified. iv) Other income is recognized on accrual basis. h. RETIREMENT BENEFITS

Contribution to defined contribution schemes such as provident fund and superannuation are charged to the profit & loss as incurred. The company also provides retirement benefits in the form of Gratuity and leave encashment on the basis of valuation, as at the Balance Sheet date. Gratuity liability is covered by a Group Gratuity policy with life insurance Corporation of India.

i. FOREIGN CURRENCY TRANSACTIONS

Foreign currency transactions are recorded at the exchange rates prevailing on the date of transaction. Gains & Losses arising out of subsequent fluctuations are accounted for on actual payment or realization. Current assets & liabilities denominated in foreign currency as at the Balance Sheet date are converted at the exchange rates prevailing on that date. Exchange differences are recognized in the Profit & Loss Account.

j. TAXES ON INCOME

Current tax is determined as the amount of tax payable in respect of estimated taxable income for the year. Deferred tax is recognized subject to the consideration of prudence, on timing deference, being the difference between taxable income & accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

K. BORROWING COST

Borrowing cost incurred in relation to the acquisition, construction of assets are capitalized as the part of the cost of such assets up to the date when such assets are ready for intended use. Other borrowing cost are charged as an expenses in the year in which these are incurred.

I. IMPAIRMENT OF ASSETS

Impairment loss is provided to the extent the carrying amounts of assets exceed their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Net selling price is the amount obtainable from the sale of an asset in an arms length transaction between knowledgeable, willing parties, less the costs of disposal.

m. PROVISIONS & CONTINGENT LIABILITIES

The Company creates a provision where there is present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resource is remote, no provision or disclosure is made.

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Mar 31, 2013

1. BASIS OF ACCOUNTING

The Financial Statements are prepared to comply in all material aspects with the applicable accounting principal in India, the Accounting Standards issued by the institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

The financial statements are prepared in accordance with the historical cost convention using the accrual method of accounting.

2. USE OF ESTIMATES

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption used in the accompanying Financial Statements are based upon management''s evaluation of the relevant facts and circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying Financial statements.

3. FIXED ASSETS

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working condition for its intended use, less accumulated depreciation and impairment loss except plant & machinery, which have revalued, are stated at revalued figure.

4. DEPRECIATION

Depreciation is provided on the Straight-Line Method at the rates prescribed under schedule XIV of the companies Act, 1956. In respect of revalued plant & machinery the difference between the depreciation on revalued amount and original cost, calculated on Straight Line Method at the rates prescribed under Schedule XIV of the Companies Act, 1956, is charged to Capital revaluation Reserve.

5. INVENTORIES

i) Amount of work in progress certified /billed in the subsequent year is pro-rated for the year under review, based on number of days involved.

ii) Work in progress at initial stages is valued at cost.

iii) Stock of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life of such material used.

iv) Construction material at site have been valued, at lower of the cost and net realizable value.

v) Stock of raw materials is valued at cost or net realizable value, whichever is lower.

vi) Finished goods are valued at cost or market value, whichever is lower.

6. INVESTMENT

i) Long term investment are stated at cost However, provision for diminution has been made if, such diminution is permanent in nature.

ii) Current investments are stated at lower of cost and fair value.

7. CONTRACT RECEIPTS / REVENUE RECOGNITION

i) In respect of contracts executed, the company accounts for income to the extend of work completed, on the basis of invoices certified. Uncertified contract receipts are determined on technical estimates.

ii) Material supplied by the clients in accordance with the terms of contract is not taken into account as contract receipts.

iii) Prices escalations /de-escalations are accounted as and when Certified.

iv) Other income is recognized on accrual basis.

8. RETIREMENT BENEFITS

Contribution to defined contribution schemes such as provident fund and superannuation are charged to the profit & loss as incurred. The company also provides retirement benefits in the form of Gratuity and leave encashment on the basis of valuation, as at the Balance Sheet date. Gratuity liability is covered by a Group Gratuity policy with life insurance Corporation of India.

9. FOREIGN CURRENCY TRANSACTIONS

Foreign currency transactions are recorded at the exchange rates prevailing on the date of transaction. Gains & Losses arising out of subsequent fluctuations are accounted for on actual payment or realization. Current assets & liabilities denominated in foreign currency as at the Balance Sheet date are converted at the exchange rates prevailing on that date. Exchange differences are recognized in the Profit & Loss Account.

10. TAXES ON INCOME

Current tax is determined as the amount of tax payable in respect of estimated taxable income for the year. Deferred tax is recognized subject to the consideration of prudence, on timing deference, being the difference between taxable income & accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

11. BORROWING COST

Borrowing cost incurred in relation to the acquisition, construction of assets are capitalized as the part of the cost of such assets up to the date when such assets are ready for intended use. Other borrowing cost are charged as an expenses in the year in which these are incurred.

12. IMPAIRMENT OF ASSETS

Impairment loss is provided to the extent the carrying amounts of assets exceed their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Net selling price is the amount obtainable from the sale of an asset in an arms length transaction between knowledgeable, willing parties, less the costs of disposal.

13. PROVISIONS & CONTINGENT LIABILITIES

The Company creates a provision where there is present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resource is remote, no provision or disclosure is made.

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Mar 31, 2012

1. BASIS OF ACCOUNTING

The Financial Statements are prepared to comply in all material aspects with the applicable accounting principal in India, the Accounting Standards issued by the institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

The financial statements are prepared in accordance with the historical cost convention using the accrual method of accounting.

2. USE OF ESTIMATES

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption used in the accompanying Financial Statements are based upon management's evaluation of the relevant facts and circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying Financial statements.

3. FIXED ASSETS

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working condition for its intended use, less accumulated depreciation and impairment loss except plant & machinery, which have revalued, are stated at revalued figure.

4. DEPRECIATION

Depreciation is provided on the Straight-Line Method at the rates prescribed under schedule XIV of the companies Act, 1956. In respect of revalued plant & machinery the difference between the depreciation on revalued amount and original cost, calculated on Straight Line Method at the rates prescribed under Schedule XIV of the Companies Act, 1956, is charged to Capital revaluation Reserve.

5. INVENTORIES

i) Amount of work in progress certified /billed in the subsequent year is pro-rated for the year under review, based on number of days involved.

ii) Work in progress at initial stages is valued at cost.

iii) Stock of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life of such material used.

iv) Construction material at site have been valued, at lower of the cost and net realizable value.

v) Stock of raw materials is valued at cost or net realizable value, whichever is lower.

vi) Finished goods are valued at cost or market value, whichever is lower.

6. INVESTMENT

i) Long term investment are stated at cost However, provision for diminution has been made if, such diminution is permanent in nature,

ii) Current investments are stated at lower of cost and fair value.

7. CONTRACT RECEIPTS/REVENUE RECOGNITION

i) In respect of contracts executed, the company accounts for income to the extend of work completed, on the basis of invoices certified. Uncertified contract receipts are determined on technical estimates.

ii) Material supplied by the clients in accordance with the terms of contract is not taken into account as contract receipts.

iii) Prices escalations /de-escalations are accounted as and when Certified.

iv) Other income is recognized on accrual basis.

8. Retirement benefits

Contribution to defined contribution schemes such as provident fund and superannuation are charged to the profit & loss as incurred. The company also provides retirement benefits in the form of Gratuity and leave encashment on the basis of valuation, as at the Balance Sheei date. Gratuity liability is covered by a Group Gratuity policy with life insurance Corporation of India.

9. FOREIGN CURRENCY TRANSACTIONS ,

Foreign currency transactions are recorded at the exchange rates prevailing on the date of transaction. Gains & Losses arising out of subsequent fluctuations are accounted for on actual payment or realization. Current assets & liabilities denominated in foreign currency as at the Balance Sheet date are converted at the exchange rates prevailing on that date. Exchange differences are recognized in the Profit & Loss Account.

10. TAXES ON INCOME

Current tax is determined as the amount of tax payable in respect of estimated taxable income for the year. Deferred tax is recognize subject to the consideration of prudence, on timing deference, being the difference between taxable income & accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

11. BORROWING COST

Borrowing cost incurred in relation to the acquisition, construction of assets are capitalized as the part of the cost of such assets up to the date when such assets are ready for intended use. Other borrowing cost are charged as an expenses in the year in which these are incurred.

12. IMPAIRMENT OF ASSETS

Impairment loss is provided to the extent the carrying amounts of assets exceed their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Net selling price is the amount obtainable from the sale of an asset in an arm's length transaction between knowledgeable, willing parties, less the costs of disposal.

13. PROVISIONS & CONTINGENT LIABILITIES

The Company creates a provision where there is present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resource is remote, no provision or disclosure is made.

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Mar 31, 2010

1. BASIS OF ACCOU NTING

The Financial Statements are prepared to comply in all material aspects with the applicable accounting principal in India, the Accounting Standards issued by the institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956. The financial statements are prepared in accordance with the historical cost convention using the accrual method of accounting.

2. USE OF ESTIMATES

The presentation of Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent liabilities. The estimates and assumption used in the accompanying Financial Statements are based upon managements evaluation of the relevant facts and circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying Financial statements.

3. FIXED ASSETS

Fixed assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working condition for its intended use, less accumulated depreciation and impairment loss except plant & machinery, which have revalued, are stated at revalued figure.

4. DEPRECIATION

Depreciation is provided on the Straight-Line Method at the rates prescribed under schedule XIV of the companies-Act, 1956. In respect of revalued plant & machinery the difference between the depreciation on revalued amount and original cost, calculated on Straight Line Method at the rates prescribed under Schedule XIV of the Companies Act, 1956, is charged to Capital revaluation Reserve.

5. INVENTORIES

i) Amount of work in progress certified /billed in the subsequent year is pro-rated for the year under review, based on number of days involved.

ii) Work in progress at initial stages is valued at cost.

iii) Stock of stores and scaffolding have been valued at cost or net realizable value, whichever is lower having regard to the life of such material used.

iv) Construction material at site have been valued, at lower of the cost and net realizable value.

v) Stock of raw materials is valued at cost or net realizable value, whichever is lower.

vi) Finished goods are valued at cost or market value, whichever is lower.

6. INVESTMENT

i) Long term investment are stated at cost However, provision for diminution has been made if, such diminution is permanent in nature. ii) Current investments are stated at lower of cost and fair value.

7. CONTRACT RECEIPTS / REVENUE RECOGNITION

i) In respect of contracts executed, the company accounts for income to the extend of work completed, on the basis of invoices certified. Uncertified contract receipts are determined on technical estimates.

ii) Material supplied by the clients in accordance with the terms of contract is not taken into account as contract receipts.

iii) Prices escalations /de-escalations are accounted as and when Certified.

iv) Other income is recognized on accrual basis.

8. RETIREMENT BENEFITS

Contribution to defined contribution schemes such as provident fund and superannuation are charged to the profit & loss as incurred. The company also provides retirement benefits in the form of Gratuity and leave encashment on the basis of valuation, as at the Balance Sheet date. Gratuity liability is covered by a Group Gratuity policy with life insurance Corporation of India.

9. FOREIGN CURRENCY TRANSACTIONS

Foreign currency transactions are recorded at the exchange rates prevailing on the date of transaction. Gains & Losses arising out of subsequent fluctuations are accounted for on actual payment or realization. Current assets & liabilities denominated in foreign currency as at the Balance Sheet date are converted at the exchange rates prevailing on that date. Exchange differences are recognized in the Profit & Loss Account.

10. TAXES ON INCOME

Current tax is determined as the amount of tax payable in respect of estimated taxable income for the year. Deferred tax is recognized subject to the consideration of prudence, on timing deference, being the difference between taxable income & accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

11. BORROWING COST

Borrowing cost incurred in relation to the acquisition, construction of assets are capitalized as the part of the cost of such assets up to the date when such assets are ready for intended use. Other borrowing cost are charged as an expenses in the year in which these are incurred.

12. IMPAIRMENT OF ASSETS

Impairment loss is provided to the extent the carrying amounts of assets exceed their recoverable amount. Recoverable amount is the higher of an assets net selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Net selling price is the amount obtainable from the sale of an asset in an arms length transaction between knowledgeable, willing parties, less the costs of disposal.

13. PROVISIONS & CONTINGENT LIABILITIES

The Company creates a provision where there is present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resource is remote, no provision or disclosure is made.