Notes to Accounts of RPP Infra Projects Ltd.

Mar 31, 2025

2.12 Provisions, Contingent Liabilities and Contingent
Assets

Provisions are recognised when the Company has a present
obligation (legal or constructive) as a result of a past event, it is
probable that the Company will be required to settle the obligation,
and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the
consideration required to settle the present obligation at the end of
the reporting period, taking into account the risks and uncertainties
surrounding the obligation. These estimates are reviewed at each
reporting date and adjusted to reflect the current best estimates.

Provision is measured using the cash flows estimated to settle the
present obligation and when the effect of time value of money
is material, the carrying amount of the provision is the present

value of those cash flows. Reimbursement expected in respect of
expenditure required to settle a provision is recognised only when it
is virtually certain that the reimbursement will be received.

Contingent assets are disclosed in the Financial Statements by
way of notes to accounts when an inflow of economic benefits is
probable.

Contingent liability is disclosed in case of:

(i) a possible obligation arising from past events and whose
existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly
within the control of the entity; or

(ii) a present obligation arising from past events where:

• it is not probable that an outflow of resources embodying
economic benefits will be required to settle the obligation;
or

• the amount of the obligation cannot be measured with
sufficient reliability"

Where the unavoidable costs of meeting the obligations under
the contract exceed the economic benefits expected to be
received under such contract, the present obligation under the
contract is recognised and measured as a provision for onerous
contract/foreseeable losses.

2.13 Equity instruments

Equity instruments issued by the Company are recorded at the
proceeds received, net of direct issue costs.

2.14 Revenue recognition

(i) Construction Contracts

Revenue is measured based on the consideration specified in a
contract with a customer. Company recognises revenue when
or as it transfers control over a good or service to a customer.

Allocation of transaction price to performance obligations
- A contract''s transaction price is allocated to each distinct
performance obligation and recognised as revenue, when, or
as, the performance obligation is satisfied. To determine the
proper revenue recognition method, we evaluate whether
two or more contracts should be combined and accounted
for as one single contract and whether the combined or
single contract should be accounted for as more than one
performance obligation. This evaluation requires significant
judgment; some of our contracts have a single performance
obligation as the promise to transfer the individual goods or
services is not separately identifiable from other promises in
the contracts and, therefore, not distinct. For contracts with
multiple performance obligations, we allocate the contract''s
transaction price to each performance obligation using our

best estimate of the standalone selling price of each distinct
good or service in the contract.

Payment terms - Progress billings are generally issued upon
completion of certain phases of the work as stipulated in the
contract. Payment terms may either be fixed, lump-sum or
driven by time and materials (i.e., daily or hourly rates, plus
materials). Because typically the customer retains a small
portion of the contract price until completion of the contract,
our contracts generally result in revenue recognised in
excess of billings which we present as contract assets on the
statement of financial position. Amounts billed and due from
our customers are classified as receivables on the statement
of financial position. The portion of the payments retained by
the customer until final contract settlement is not considered
a significant financing component because the intent is to
protect the customer. For some contracts, we may be entitled
to receive an advance payment. We recognise a liability for
these advance payments in excess of revenue recognised and
present it as contract liabilities on the statement of financial
position. The advance payment typically is not considered a
significant financing component because it is used to meet
working capital demands that can be higher in the early stages
of a contract and to protect us from the other party failing to
adequately complete some or all of its obligations under the
contract.

Warranty - Certain contracts include an assurance-type warranty
clause, typically between 18 to 36 months, to guarantee that
the products comply with agreed specifications. However, the
customers will generally with hold a part of the transaction
price as security against the warranty clause and the revenue
will be recognised by the company only after completion of
warranty period.

Revenue recognised over time - Our performance obligations
are satisfied over time as work progresses or at a point in
time when performance obligations are fulfilled and control
transfers to the customer. Typically, revenue is recognised over
time using an input measure (e.g., costs incurred to date relative
to total estimated costs at completion) to measure progress.

Cost-to-cost method - For our long-term contracts, because of
control transferring over time, revenue is recognised based on
the extent of progress towards completion of the performance
obligation. Upon adoption of the new standard we generally
use the cost-to-cost measure of progress for our contracts
because it best depicts the transfer of control to the customer
which occurs as we incur costs on our contracts. Under the
cost-to-cost measure of progress, the extent of progress
towards completion is measured based on the ratio of costs
incurred to date to the total estimated costs at completion of

the performance obligation. Revenues, including estimated
fees or profits, are recorded proportionally as costs are incurred.
Any expected losses on construction-type contracts in progress
are charged to earnings, in total, in the period the losses are
identified. Previously, such contracts were accounted for under
IAS 11 on Construction Contracts. Accordingly, revenue on
ongoing contracts was measured on the basis of costs incurred
and of margin recognised at the percentage of completion.
Margin was recognised only when the visibility of the riskiest
stages of the contract was deemed sufficient and when
estimates of costs and revenue was considered to be reliable.
The percentage of completion was calculated according to the
nature and the specific risk of each contract in order to reflect
the effective completion of the project. This percentage of
completion could be based on technical milestones defined
for the main deliverables under the contracts or based on the
ratio between costs incurred to date and estimated total costs
at completion. As soon as the estimate of the final outcome
of a contract indicated a loss, a provision was recorded for
the entire loss. The gross margin of a long-term contract at
completion was based on an analysis of total costs and income
at completion, which are reviewed periodically and regularly
throughout the life of the contract. A construction contract
was considered completed when the last technical milestone is
achieved, which occurs upon contractual transfer of ownership
of the asset or temporary delivery, even if conditional.

Right to invoice practical expedient - The right-to-invoice
practical expedient can be applied to a performance obligation
satisfied over time if we have a right to invoice the customer for
an amount that corresponds directly with the value transferred
to the customer for our performance completed to date. When
this practical expedient is used, we do not estimate variable
consideration at the inception of the contract to determine the
transaction price or for disclosure purposes. We have contracts
which have payment terms dictated by daily or hourly rates
where some contracts may have mixed pricing terms which
include a fixed fee portion. For contracts in which we charge
the customer a fixed rate based on the time or materials spent
during the project that correspond to the value transferred to
the customer, we recognise revenue in the amount to which
we have the right to invoice.

Contract modifications - Contracts are often modified to account
for changes in contract specifications and requirements. We
consider contract modifications to exist when the modification
either creates new, or changes the existing, enforceable
rights and obligations. Most of our contract modifications are
for goods or services that are not distinct from the existing
contract due to the significant integration service provided in

the context of the contract and are accounted for as if they
were part of that existing contract. The effect of a contract
modification on the transaction price and our measure of
progress for the performance obligation to which it relates is
recognised as an adjustment to revenue (either as an increase
in or a reduction of revenue) on a cumulative catch-up basis."

(ii) Other Operational Income

Other Operational Income Includes Revenue for Technical
services provided and accounted on accrual basis.

(iii) Dividend income:

Dividend income from investments is recognised when the
shareholder''s right to receive payment is established by the
reporting date.

(iv) Interest Income

Interest income from financial assets is recognised at the
effective interest rate method applicable on initial recognition.

(v) Other Income

(a) Claims were accounted as income in the year of receipt of
arbitration award or acceptance by client or evidence of
acceptance.

( b) Other items of income are accounted as and when the
right to receive arises.

(c) I ncome from letting out of Plant & Machineries, Heavy
vehicle, etc., is recognized over time, based on the period
during which the service is provided to the customer.

2.15 Borrowing Costs

Borrowing costs specifically identified to the acquisition or
construction of qualifying assets is capitalized as part of such assets.
A qualifying asset is one that necessarily takes substantial period of
time to get ready for intended use. All other borrowing costs are
charged to the Statement of Profit and Loss.

2.16 Employee Benefits

Employee benefits include salaries, wages, provident fund, employee
state insurance and gratuity.

(i) Defined contribution plans

Employer''s contribution to the recognized provident fund
which is a defined contribution scheme and ESI Contribution as
per law are charged to the Profit and Loss account.

(ii) Defined benefit plans

The Gratuity benefit is funded through a defined benefit
plan. For this purpose, the Company has obtained a qualified
insurance policy from Life Insurance Corporation of India.

2.17 Voluntary Retirement Scheme

Expenditure on Voluntary Retirement Scheme (VRS) is charged to
the Statement of Profit and Loss when incurred.

2.18 Foreign Exchange Transactions

Items included in the financial statements of each of the Group''s
entities are measured using the currency of the primary economic
environment in which the entity operates (the "functional currency").
The consolidated financial statements are presented in Indian
Rupees, which is the Company''s functional currency and the Group''s
presentation currency.

Transactions in currencies other than the Company''s functional
currency (foreign currencies) are recognised at the rates of exchange
prevailing at the dates of the transactions.

At the end of each reporting period, monetary items denominated
in foreign currencies are translated using mean exchange rate
prevailing on the last day of the reporting period. Non-monetary
items, which are measured in terms of historical cost denominated
in a foreign currency, are reported using the exchange rate at the
date of the transaction. Non-monetary items, which are measured
at fair value or other similar valuation denominated in a foreign
currency, are translated using the exchange rate at the date when
such value was determined.

Exchange differences on monetary items are recognised in the
Statement of Profit and Loss in the period in which they arise. In case
of fixed assets they are adjusted to the carrying cost of such assets.

2.19 General Administrative Expenses

General administrative expenses which are directly attributable are
allocated to activities and the balance is charged to Statement of
Profit and Loss.

2.20 Income Taxes

Income tax expense represents the sum of the current tax and
deferred tax.

(i) Current tax

The tax currently payable is based on taxable profit for the year.
Taxable p rofit differs from ''profit before tax'' as reported in the
Statement of Profit and Loss because of items of income or
expense that are taxable or deductible in other years and items
that are never taxable or deductible. The Company''s current tax
is calculated using tax rates and laws that have been enacted or
substantively enacted by the end of the reporting period.

(ii) Deferred tax

Deferred tax is recognised on temporary differences between
the carrying amounts of assets and liabilities in the Financial
Statements and the corresponding tax bases used in the

computation of taxable profit. Deferred tax liabilities are
generally recognised for all taxable temporary differences.
Deferred tax assets are generally recognised for all deductible
temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible
temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at the
end of each reporting period and reduced to the extent that it is
no longer probable that sufficient taxable profits will be available
to allow all or part of the deferred tax asset to be utilized.

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

The measurement of deferred tax liabilities and assets reflects the
tax consequences that would follow from the manner in which
the Company expects, at the end of the reporting period, to
recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and deferred tax liabilities are offset, if a
legally enforceable right exists to set-off current tax assets
against current tax liabilities and the deferred tax assets and
deferred tax liabilities relate to the same taxable entity and the
same taxation authority.

(iii) Current and deferred tax expense for the year

Current and deferred tax expense is recognised in the
Statement of Profit and Loss, except when they relate to items
that are recognised in other comprehensive income or directly
in equity, in which case, the current and deferred tax are also
recognised in other comprehensive income or directly in equity
respectively.

2.21 Proposed Dividend

The Company has disclosed dividend, proposed by board of directors
after the balance sheet date, in the notes, as provision cannot be

created for dividend proposed / declared after the balance sheet
date, unless a statute requires otherwise.

2.22 Exceptional Items

Income or expenses that arise from events or transactions that
are clearly distinct from the ordinary activities of the Company are
classified as extraordinary items. Specific disclosure of such events/
transactions is made in the financial statements. Similarly, any
external event beyond the control of the Company, significantly
impacting income or expense, is also treated as extraordinary item
and disclosed as such.

On certain occasions, the size, type or incidence of an item of
income or expense, pertaining to the ordinary activities of the
Company, is such that its disclosure improves an understanding
of the performance of the Company. Such income or expense is
classified as an exceptional item and accordingly disclosed in the
notes to accounts.

2.23 Earnings per share

Basic earnings per share are computed by dividing the net profit after
tax by the weighted average number of equity shares outstanding
during the period. Diluted earnings per share is computed by
dividing the profit after tax by the weighted average number of
equity shares considered for deriving basic earnings per share and
also the weighted average number of equity shares that could have
been issued upon conversion of all dilutive potential equity shares.

2.24 Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit
after tax is adjusted for the effects of transactions of a non-cash
nature, any deferrals or accruals of past or future operating cash
receipts or payments and item of income or expenses associated
with investing or financing cash flows. The cash flows are segregated
into operating, investing and financing activities.

2.25 Segment reporting

Operating segments are identified and reported taking into account
the different risks and returns, the organization structure and the
internal reporting systems.

As per our report of even date On behalf of Board of Directors

For RPP Infra Projects Limited

For K R S G Associates P. Arul Sundaram A. Nithya

Charatered Accountants Chairman & Whole Time Director &

FRN # 007506S Managing Director Chief Financial Officer

DIN: 00125403 DIN: 00125357

CA SUJATHA T S Shammi Prakash

Membership No. :233150 Company Secretary

UDIN: 25233150BMGYDQ2154 M.No: F12331

Date: 28.05.2025
Place : Chennai

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Mar 31, 2024

Note 12.1: There are arbitration proceedings going on in respect of the department namely NTECL towards which a sum Rs.27.53 Crores respectively are shown as receivables and other assets. The aforesaid amount includes Rs.12.97 Crores of disputed Trade receivables (Note 12), Rs.11.73 Crores of Non-Trade receivable (Note 14), Rs.0.79 Crores of Retention by customers (Note 16) and Rs.2.04 of Capital work in progress (Note 4).

The company has filed the necessary papers with the arbitrators and the above receivables are considered good for recovery.

Note 12.2: Third Party balances are subject to external confirmations.

Note 17.2 : Terms / rights attached to equity shares

The company has only one class of equity share having a par value of Rs.10 per share. Each shareholder of equity shares is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing general meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of preferential amounts. the distribution will be in proportion to the number of equity shares held by shareholders.

Note 17.3 : Details of shares in respect of each class in the company held by its holding company or its ultimate holding company including shares held by subsidiaries or associates of the holding company or the ultimate holding company In aggregate

No shares are held in the company held by its holding company or its ultimate holding company including shares held by subsidiaries or associates of the holding company or the ultimate holding company In aggregate

Company has obtained approval of the shareholders for 40,00,000@90 allotment of warrant at the General Meeting held on 12th June 2020. Fund Received from Promoter being 25% of consideration in accordance with the SEBI (ICDR) Regulation, 2018. Companies was obtained "InPrinciple Approval” under the Regulation 28(1) of SEBI (LODR) Regulation, 2015 granted by the BSE Limited vide its letter reference no. DCS/ PREF/BA/PRE/697/2020-21 dated 13thJuly 2020 and National Stock Exchange of India Limited vide its letter reference no. NSE/LIST/24057 dated 8th July 2020. Accordingly, dated 14.07.2020 Share Allotment Committee approved allotment of 40,00,000 warrants convertible into Equity Shares of Rs. 10 each to the promoters on preferential basis at an issue price of the Rs. 90 per warrants on receipt of the amount of Rs 9 Crores (Rupees Nine Crores Only) being 25% of consideration in accordance with the SEBI (ICDR) Regulation, 2018.

Further dated 04.03.2021 Share Allotment Committee of the Board of Directors of the Company held on 4" March 2021 was allotted 10,50,000 [Ten Lakhs Fifty Thousand] Fully Paid-up Equity Shares of = 10/- each ["said shares"] on conversion of 10,50,000 Warrants on receipt of the full consideration towards these warrants and exercise of option of conversion. The allotted shares ranks pari passu with the existing Equity Shares of the Company in all respects including dividend.

However, on 16 December 2021, we received notice from Warrant holders, informing us about their intention to not to exercise their right for conversion of the remaining Warrants.

Accordingly, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the said Warrant holders have failed to exercise their rights to acquire the Equity Shares underlying the said Warrants. As a result the remaining Warrants i.e., 29,50,000 Warrants, stand cancelled/lapsed and the consideration of Rs. 06.637 crores (25% of consideration) received by the Company from the Warrant holders, towards allotment of said Warrants, is forfeited in accordance with the terms of the said Warrants and the provisions of the SEBI ICDR Regulations, 2018, and the same was approved by the Share Allotment Committee of the Board of Directors of RPP Infra projects Limited at its meeting held on 17/12/2021.

ISSUE OF UPTO 1,60,00,000 EQUITY SHARES OF FACE VALUE H10 EACH (RIGHTS EQUITY SHARES) OF OUR COMPANY FOR CASH AT A PRICE OF H 30 PER EQUITY SHARE (ISSUE PRICE), AGGREGATING UPTO H48,00,00,000 (RUPEES 48.00 CRORES) (ASSUMING FULL SUBSCRIPTION) ON A RIGHTS BASIS

(I) TO THE EXISTING ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY IN THE RATIO OF 3 RIGHTS EQUITY SHARES FOR EVERY 5 FULLY PAID-UP EQUITY SHARE(S) HELD BY THE EXISTING ELIGIBLE EQUITY SHAREHOLDERS ON THE RECORD DATE, THAT IS ON SEPTEMBER 20, 2021;

(II) TO THE RESERVED PORTION IN FAVOUR OF THE WARRANT HOLDERS"

On Application, Investors paid H18 per Rights Equity Share (Face Value of H6 and Premium of H12) which constitutes 60% of the Issue Price and the balance H12 per Rights Equity Share (Face Value of H4 and Premium of H8) which constitutes 40% of the Issue Price was paid on First and Final Call, as determined by our Board at its sole discretion, from time to time.

Out of 1,60,00,000 shares issued, 1,42,30,000 shares had been subscribed, through which we have received Rs. 25.61 Crores.

Out of 1,42,30,000 shares subscribed through payment of Application money, We have received the First and Final call money towards 13,995,625 shares, amounting to Rs.16.79 Crores

First & Final Call Money (Share Capital - Rs.4 & Securities Premium - Rs.8) with respect to 2,34,375 partly paid up shares are still in progress as on Balance Sheet date, out of which the call money for 1,39,709 no. of shares was received on 26.02.2024, but the allotment was made after getting approval from SEBI which took place after the Balance Sheet date. After the last allotment of call money received on 26.02.2024, there are 94,666 no. of shares remaining unpaid.

Preferential Issue

Company has obtained approval of the shareholders for 1,15,00,000@44.25 allotment of warrant and 300000 Equity share at an issue price of Rs 44.25 (including premium Rs 34.25) per share at the Exra ordinary General Meeting held on 01st February 2023. Company will received full amount from non-promoters at the time of allotment of 300000 equity shares and 25% of warrant price received at the time of allotment of 1,15,00,000 and remaining amount received at the time of conversion within 18 Months from date of allotment in accordance with the SEBI (ICDR) Regulation, 2018. Companies was obtained "In-Principle Approval”under the Regulation 28(1) of SEBI (LODR) Regulation, 2015 granted by the BSE Limited vide its letter reference no. DCS/PREF/CP/FIP/3139/2022-23 dated 20thFebruary 2023 and National Stock Exchange of India Limited vide its letter reference no. NSE/LIST/34030 dated 20thFebruary 2023.

Our company is not declared as wilful defaulter by any bank or financial Institution or other lender.

Our company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date.

Our company has taken funds from the KVB and Canara Bank on account of or to meet the obligations of Joint Ventures(RPP Renaatus JV and RPP Dhanya JV) respectively.

Note 39 : Gratuity & other post employment benefit plans

Defined Contribution Plan

The Company has defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded with Insurance Company in the form of a qualifiying Insurance Policy.

Each year, the Board ofTrustees reviews the level of funding in the gratuity plan. Such a review includes the asset-liability matching strategy and investment risk management policy. The Board of Trustees decides its contribution based on the results of this annual review. Generally, it aims to have a portfolio mix of equity instruments and debt instruments. Generally equity instruments should not exceed 15% of total portfolio. The Board ofTrustees aim to keep annual contributions relatively stable at a level such that no plan deficits (based on valuation performed) will arise. The plan assets include significant investment in Debt Fund, hence, the Company is not exposed to any market risk.

The following table summarises the components of net benefit expense recognised in the statement of profit or loss and the funded status and amounts recognised in the balance sheet.

The discount rate indicated above reflects the estimated timing and currency of benefit payments. It is based on the yields / rates available on applicable bonds as on the current valuation date.

The salary growth rate indicated above is the Company''s best estimate of an increase in salary of the employees in future years, determined considering the general trend in inflation, senority, promotions, past experience and other relevant factors such as demand and supply in employment market, etc.

Attrition rate indicated above represents the Company''s best estimate of employee turnover in future (other than on account of retirement, death or disablement) determined considering various factors such as nature of business, retention policy, industry factors, past experience, etc.

Sensitivity Analysis

Significant actuarial assumptions for the detemination of the defined benefit obligation are discount rate, expected salary increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results of sensitivity analysis is given below:

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Sensitivity due to mortality & withdrawals are not material & hence impact of change not calculated.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet.

Note 40 : Commitments and contingencies Contingent Liabilities		('' In Crore )
Particulars |	Year ended 31 Mar 2024	Year ended 31 Mar 2023
(a) Counter Indemnities given to Banks in respect of contracts	252.58	259.64
(b) Income Tax Liability that may arise in respect of which Company is in appeal	25.34	35.02
(c) Service Tax liability that may arise in respect of matters in appeal	15.58	22.93
(d) TDS Liability as reflected in the Traces Portal which are under Reconcilation/ Appeal	0.13	0.07
(e) Value Added Tax liability that may arise in respect of matters in appeal	0.00	98.20
(f) Goods and Service Tax liability that may arise in respect of matters in appeal	9.55	4.36

1. The Company is contesting the demands and the Management, including its legal counsel/Tax Advisors, believe that it is possible, but not probable, the action will succeed and accordingly no provision for liability has been recognised in the financial statements.

2. WRIT Petition is under process against the Income Tax Settlement Commission Order which has been completed in the Financial Year 2019-20 and Tax due has been paid as per ITSC order in three Installments. Two Installments paid in the Financial year 2019-20 and due to Covid 19 final Installment paid in Financial year 2020-21. The department had went on an appeal against the settlement commission which had been dismissed by the Honorable High Court. We have received an order in favour of us whereus the case is dismissed. The company is awaiting final order for clearance demand from the department.

3. During the financial year 2023-24, the Honorable High Court had not accepted the Commercial taxes petition for redo of assessment under the TNVAT Act, 2006. Hence, the demand raised by the department stands withdrawn.

4. During the financial year 2023-24, the Service tax tribunal had requested for reconsideration and a fresh decision by the original authority to the extent of 15.58 crores and balance had been passed in favour of the company and demand has been withdrawn.

5. We have received notice from GST department for various states in which we operate, in ordinary course of Business. The value of which couldn''t be ascertained because of its nature. Correspondance with GST Department have been made with respect to the notice received.

Note 41 : Segment Information

The company''s operations predominantly consist of construction / project activities.

Hence there are no reportable segments under Indian Accounting standard -108 - ''Operating Segments''. "

Note 42 : Details of dues to Micro and Small Enterprises as defined under MSMED Act, 2006

There are no overdue amounts payable to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006 based on information available with the Company. Further, the Company has not paid any interest to any Micro and Small Enterprises during the year ended March 31,2024.

Note 45 : Financial Instruments Disclosure

45.1 Capital management

The Company''s objective when managing capital is to:

(i) Safeguard its ability to continue as going concern so that the Company is able to provide maximum return to stakeholders and benefits for other stakeholders; and

(ii) Maintain an optimal capital structure to reduce the cost of capital.

(iii) The company maintains its financial framework to support the pursuit of value growth for shareholders, while ensuring a secure financial base. In order to maintain or adjust the capital structure, the Company may return capital to shareholders, issue new shares or sell assets to reduce debt.

The capital structure of the Company comprises of equity share capital, retained earnings and other equity attributable to equity holders.. The Company is not subject to any externally imposed capital requirements.

45.4 Financial Risk Management Objectives

I n course of its business, the Company is exposed to certain financial risks that could have significant influence on the Company''s business and operational / financial performance. These include market risk (including currency risk and interest rate risk), credit risk and liquidity risk.

The Management reviews and approves risk Management framework and policies for managing these risks and monitor suitable mitigating actions taken by the management to minimise potential adverse effects and achieve greater predictablity to earnings.

In line with the overall risk management framework and policies, the treasury function provides services to the business, monitors and manages through an analysis of the exposures by degree and magnitude of risks

45.4.1 Market Risk

Market risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of a business. The major components of market risk are foreign currency exchange risk and interest rate risk.

44.4.1.1 Foreign Currency Risk Management

The company has overseas subsidiaries which are however are not material subsidiaries. Net amount payable / receivable are not hedge and company is hopeful of recovering the same in ensuing financial year. There are no other foreign currency risk exposure to the Company.

44.4.1.2. Interest rate risk.

The Company is not exposed to interest rate risk because of borrowal of funds at fixed interest rates. The company''s exposure to interet rate on borrowings are detailed in note 19.

45.4.2 Credit Risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables. The customer profile consists of around 70-80% from Govt. Sectors

45.4.3 Liquidity Risk

The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

The Company manages liquidity risk by maintaining sufficient cash and cash equivalents including bank deposits and availability of funding through an adequate amount of committed credit facilities to meet the obligations when due. Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash flows. In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to meet obligations by matching the maturity profiles of financial assets &liabilities and monitoring balance sheet liquidity ratios.

Note 46 : Joint Venture Agreement

The Company has an unincorporated JV with the Party Ramalingam Construction Company Pvt Ltd with whom a project was jointly bidded and obtained. However, the execution was fully done by the company. Company has agreed to pay 2% of Turnover of this project as Royalty to the Partner and this amount has been charged off to the Statement of Profit & Loss.

Note 47 - Disclosure Pursuant to Construction Contracts

Disclosures pursuant to Indian Accounting standard (Ind AS) 115, Revenue from Contracts with Customers

(a) The Company believes that the information provided vide Note 27 (Revenue from Operations) and vide Note 38 (Segment reporting) is sufficient to meet the disclosure requirements with respect to disaggregation of revenue under Ind AS 115, Revenue from Contracts with Customers.

(d) Remaining performance obligations

In case of revenue from Road repair and maintenance, the Company applies the practical expedient in paragraph 121 of Ind AS 115 and does not disclose information about remaining performance obligations where the Company has a right to consideration from customer in an amount that corresponds directly with the value to the customer of the Company''s performance completed to date. Accordingly, the Company recognises revenue by an amount to which the Company has a right to invoice.

Remaining performance obligations are subject to variability due to several factors such as changes in scope of contracts, periodic revalidations of the estimates, economic factors (changes in currency rates, tax laws etc). The aggregate value of transaction price allocated to remaining performance obligations is Rs 3010 Crores out of which 40%-45% is expected to be recognised as revenue in the next year and the balance thereafter.

NOTE 49

No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

NOTE 50 : ADDITIONAL DISCLOSURES UNDER SCHEDULE III DIVISION II

a) No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

b) The Company has not been declared as a wilful defaulter by any bank or financial institution or government or any government authority

c) As per the information available with the Company, the Company has no transactions with the companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956

d) There has been no charges or satisfaction yet to be registered with ROC beyond the statutory period.

e) Company has not traded or invested in Crypto currency or Virtual Currency during the financial year ended March 31,2024.

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Mar 31, 2023

There are arbitration proceedings going on in respect of the following departments - Rites, Sipcot, Ntecl and MSEZ towards which sums '' 2.13 Crores, '' 0.75 Crores, '' 27.30 and '' 2.80 Crores respectively are shown as receivables. The company has filed the necessary papers with the arbitrators and the above receivables are considered good for recovery. Third Party balances are subject to external confirmations.

Note 17.2: Terms / rights attached to equity shares

The company has only one class of equity share having a par value of '' 10 per share. Each shareholder of equity shares is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing general meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of preferential amounts. the distribution will be in proportion to the number of equity shares held by shareholders.

Company has obtained approval of the shareholders for 40,00,000@90 allotment of warrant at the General Meeting held on 12^th June 2020. Fund Received from Promoter being 25% of consideration in accordance with the SEBI (ICDR) Regulation, 2018. Companies was obtained "In-Principle Approval” under the Regulation 28(1) of SEBI (LODR) Regulation, 2015 granted by the BSE Limited vide its letter reference no. DCS/PREF/BA/PRE/697/2020-21 dated 13thJuly 2020 and National Stock Exchange of India Limited vide its letter reference no. NSE/LIST/24057 dated 8^th July 2020. Accordingly, dated 14.07.2020 Share Allotment Committee approved allotment of 40,00,000 warrants convertible into Equity Shares of '' 10 each to the promoters on preferential basis at an issue price of the '' 90 per warrants on receipt of the amount of '' 9 Crores (Rupees Nine Crores Only) being 25% of consideration in accordance with the SEBI (ICDR) Regulation, 2018.

Further dated 04.03.2021 Share Allotment Committee of the Board of Directors of the Company held on 4" March 2021 was allotted 10,50,000 [Ten Lakhs Fifty Thousand] Fully Paid-up Equity Shares of = 10/- each ["said shares"] on conversion of 10,50,000 Warrants on receipt of the full consideration towards these warrants and exercise of option of conversion. The allotted shares ranks pari passu with the existing Equity Shares of the Company in all respects including dividend.

However, on 16 December 2021, we received notice from Warrant holders, informing us about their intention to not to exercise their right for conversion of the remaining Warrants.

Accordingly, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the said Warrant holders have failed to exercise their rights to acquire the Equity Shares underlying the said Warrants. As a result the remaining Warrants i.e., 29,50,000 Warrants, stand cancelled/lapsed and the consideration of '' 06.637 crores (25% of consideration) received by the Company from the Warrant holders, towards allotment of said Warrants, is forfeited in accordance with the terms of the said Warrants and the provisions of the SEBI ICDR Regulations, 2018, and the same was approved by the Share Allotment Committee of the Board of Directors of RPP Infra projects Limited at its meeting held on 17/12/2021.

ISSUE OF UPTO 1,60,00,000 EQUITY SHARES OF FACE VALUE '' 10 EACH (RIGHTS EQUITY SHARES) OF OUR COMPANY FOR CASH AT A PRICE OF '' 30 PER EQUITY SHARE (ISSUE PRICE), AGGREGATING UPTO '' 48,00,00,000 (RUPEES 48.00 CRORES) (ASSUMING FULL SUBSCRIPTION) ON A RIGHTS BASIS

(I) TO THE EXISTING ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY IN THE RATIO OF 3 RIGHTS EQUITY SHARES FOR EVERY 5 FULLY PAID-UP EQUITY SHARE(S) HELD BY THE EXISTING ELIGIBLE EQUITY SHAREHOLDERS ON THE RECORD DATE, THAT IS ON SEPTEMBER 20, 2021;

(II) TO THE RESERVED PORTION IN FAVOUR OF THE WARRANT HOLDERS

On Application, Investors paid '' 18 per Rights Equity Share (Face Value of '' 6 and Premium of '' 12) which constitutes 60% of the Issue Price and the balance '' 12 per Rights Equity Share (Face Value of '' 4 and Premium of '' 8) which constitutes 40% of the Issue Price was paid on First and Final Call, as determined by our Board at its sole discretion, from time to time.

Out of 1,60,00,000 shares issued, 1,42,30,000 shares had been subscribed, through which we have received '' 25.61 Crores.

Out of 1,42,30,000 shares subscribed through payment of Application money, We have received the First and Final call money towards 1,35,08,780 shares, amounting to '' 16.21 Crores

First & Final Call Money (Share Capital - '' 4 & Securities Premium - '' 8) with respect to 7,21,220 partly paid up shares are still in progress as on date.

There is a difference in the Paid Up share Capital between Books of Accounts and MCA Portal. We have initiated the process of rectification in the MCA Portal

PREFERENTIAL ISSUE

Company has obtained approval of the shareholders for 1,15,00,000@44.25 allotment of warrant and 300000 Equity share at an issue price of '' 44.25 (including premium '' 34.25) per share at the Exra ordinary General Meeting held on 01^st February 2023. Company will received full amount from non-promoters at the time of allotment of 300000 equity shares and 25% of warrant price received at the time of allotment of 1,15,00,000 and remaining amount received at the time of conversion within 18 Months from date of allotment in accordance with the SEBI (ICDR) Regulation, 2018. Companies was obtained "In-Principle Approval"under the Regulation 28(1) of SEBI (LODR) Regulation, 2015 granted by the BSE Limited vide its letter reference no. DCS/PREF/CP/FIP/3139/2022-23 dated 20thFebruary 2023 and National Stock Exchange of India Limited vide its letter reference no. NSE/LIST/34030 dated 20thFebruary 2023.

Equity Share

Allotment Committee meeting held on 06 March 2023 approved allotment of 3,00,000 Equity Shares of Rs. 10 each to the non-promoters on preferential basis at an issue price of the Rs. 44.25 per Shares including premium on receipt of the full consideration amount of Rs. 13275000.

Warrant

Allotment Committee meeting held on 06 March 2023 approved allotment of 115,00,000 warrants convertible into Equity Shares of Rs. 10 each to the non promoters on preferential basis at an issue price of the Rs. 44.25 per warrants on receipt of the amount of Rs 12.72 Crores (Rupees Tweleve Crores and Seventy two Only) being 25% of consideration in accordance with the SEBI (ICDR) Regulation, 2018.

Note: on the basis of Sanctioned Letter, our company have complied with all the requirements asked from the lending Institutions which includes monthly stock and debtor statement and QIS, QOS and HOS and which resembles the Accounts.

Our company is not declared as wilful defaulter by any bank or financial Institution or other lender.

Our company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date.

Our company has taken funds from the Indian Bank and Canara Bank on account of or to meet the obligations of Joint Ventures(RPP Renaatus JV and RPP Dhanya JV) respectively.

Note: Joint Venture Agreement

The Company has an unincorporaed JV with the Party Ramalingam Construction Company Pvt Ltd with whom a project was jointly bidded and obtained. However, the execution was fully done by the company. Company has agreed to pay 2% of Turnover of this project as Royalty to the Partner and this amount has been charged off to the Statement of Profit & Loss.

Note 39: Gratuity & other post employment benefit plans

Defined Contribution Plan

The Company has defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded with Insurance Company in the form of a qualifiying Insurance Policy.

Each year, the Board of Trustees reviews the level of funding in the gratuity plan. Such a review includes the asset-liability matching strategy and investment risk management policy. The Board of Trustees decides its contribution based on the results of this annual review. Generally, it aims to have a portfolio mix of equity instruments and debt instruments. Generally equity instruments should not exceed 15% of total portfolio. The Board of Trustees aim to keep annual contributions relatively stable at a level such that no plan deficits (based on valuation performed) will arise.

The plan assets include significant investment in Debt Fund, hence, the Company is not exposed to any market risk.

The following table summarises the components of net benefit expense recognised in the statement of profit or loss and the funded status and amounts recognised in the balance sheet.

The discount rate indicated above reflects the estimated timing and currency of benefit payments. It is based on the yields / rates available on applicable bonds as on the current valuation date.

The salary growth rate indicated above is the Company''s best estimate of an increase in salary of the employees in future years, determined considering the general trend in inflation, senority, promotions, past experience and other relevant factors such as demand and supply in employment market, etc.

Attrition rate indicated above represents the Company''s best estimate of employee turnover in future (other than on account of retirement, death or disablement) determined considering various factors such as nature ofbusiness, retention policy, industry factors, past experience, etc.

Sensitivity Analysis

Significant actuarial assumptions for the detemination of the defined benefit obligation are discount rate, expected salary increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results of sensitivity analysis is given below:

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Sensitivity due to mortality & withdrawals are not material & hence impact of change not calculated.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet.

Note 40: Commitments and contingencies ('' in Crore)
Particulars	Year ended 31st March 2023	Year ended 31st March 2023
(a) Counter Indemnities given to Banks in respect of contracts	259.64	275.72
(b) Income Tax Liability that may arise in respect of which Company is in appeal	35.02	35.02
(c) Service Tax liability that may arise in respect of matters in appeal	22.93	22.93
(d) TDS Liability as reflected in the Traces Portal which are under Reconcilation/ Appeal	0.07	0.14
(e) Value Added Tax liability that may arise in respect of matters in appeal	98.20	98.20
(f) Goods and Service Tax liability that may arise in respect of matters in appeal	17.07	0.00

1. The Company is contesting the demands and the Management, including its legal counsel/Tax Advisors, believe that it is possible, but not probable, the action will succeed and accordingly no provision for liability has been recognised in the financial statements.

2. WRIT Petition is under process against the Income Tax Settlement Commission Order which has been completed in the Financial Year 2019-20 and Tax due has been paid as per ITSC order in three Installments. Two Installments paid in the Financial year 2019-20 and due to Covid 19 final Installment paid in Financial year 2020-21.

3. GST returns have been filed belatedly for most of the Months.

4. The reconciliation for purchases and expenditures with the details available in Form 2A, according to the GST portal is under process. No provision for dues of interest on GST dues, if any, is provided in the accounts pending finalisations.

5. We have received notice from GST department for various states in which we operate, in ordinary course of Business. The value of which couldn''t be ascertained because of its nature. Correspondance with GST Department have been made with respect to the notice received.

Note 41: Segment Information

The company''s operations predominantly consist of construction / project activities.

Hence there are no reportable segments under Indian Accounting standard -108 - ''Operating Segments''.

Note 42: Details of dues to Micro and Small Enterprises as defined under MSMED Act, 2006

There are no overdue amounts payable to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006 based on information available with the Company. Further, the Company has not paid any interest to any Micro and Small Enterprises during the year ended March 31, 2023.

Note 45: Financial Instruments Disclosure

45.1 Capital management

The Company''s objective when managing capital is to:

(i) Safeguard its ability to continue as going concern so that the Company is able to provide maximum return to stakeholders and benefits for other stakeholders; and

(ii) Maintain an optimal capital structure to reduce the cost of capital.

(iii) The company maintains its financial framework to support the pursuit of value growth for shareholders, while ensuring a secure financial base. In order to maintain or adjust the capital structure, the Company may return capital to shareholders, issue new shares or sell assets to reduce debt.

The capital structure of the Company comprises of equity share capital, retained earnings and other equity attributable to equity

holders.. The Company is not subject to any externally imposed capital requirements.

45.4Financial Risk Management Objectives

I n course of its business, the Company is exposed to certain financial risks that could have significant influence on the Company''s business and operational / financial performance. These include market risk (including currency risk and interest rate risk), credit risk and liquidity risk.

The Management reviews and approves risk Management framework and policies for managing these risks and monitor suitable mitigating actions taken by the management to minimise potential adverse effects and achieve greater predictablity to earnings.

In line with the overall risk management framework and policies, the treasury function provides services to the business, monitors and manages through an analysis of the exposures by degree and magnitude of risks

45.4.1 Market Risk

Market risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of a business. The major components of market risk are foreign currency exchange risk and interest rate risk.

44.4.1.1 Foreign Currency Risk Management

The company has overseas subsidiaries which are however are not material subsidiaries. Net amount payable / receivable are not hedge and company is hopeful of recovering the same in ensuing financial year. There are no other foreign currency risk exposure to the Company.

44.4.1.2. Interest rate risk.

The Company is not exposed to interest rate risk because of borrowal of funds at fixed interest rates. The company''s exposure to interet rate on borrowings are detailed in note 19.

45.4.2 Credit Risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables. The customer profile consists of around 70-80% from Govt. Sectors

The company''s exposure to credit risk for trade and other receivables by type of counterparty are as follows

45.4.3 Liquidity Risk

The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

The Company manages liquidity risk by maintaining sufficient cash and cash equivalents including bank deposits and availability of funding through an adequate amount of committed credit facilities to meet the obligations when due. Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash flows. In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to meet obligations by matching the maturity profiles of financial assets &liabilities and monitoring balance sheet liquidity ratios.

Note 46: Joint Venture Agreement

The Company has an unincorporated JV with the Party Ramalingam Construction Company Pvt Ltd with whom a project was jointly bidded and obtained. However, the execution was fully done by the company. Company has agreed to pay 2% of Turnover of this project as Royalty to the Partner and this amount has been charged off to the Statement of Profit & Loss.

Note 47: Disclosure Pursuant to Construction Contracts

Disclosures pursuant to Indian Accounting standard (Ind AS) 115, Revenue from Contracts with Customers

(a) The Company believes that the information provided vide Note 27 (Revenue from Operations) and vide Note 38 (Segment reporting) is sufficient to meet the disclosure requirements with respect to disaggregation of revenue under Ind AS 115, Revenue from Contracts with Customers.

(b) Reconciliation of the amount for revenue recognised in the Standalone Statement of Profit and Loss with the contracted price:

(iii) Revenue recognised during the year from opening balalnce of Contract liabilities amounts to '' 32.64 Crores (d) Remaining performance obligations

I n case of revenue from Road repair and maintenance, the Company applies the practical expedient in paragraph 121 of Ind AS 115 and does not disclose information about remaining performance obligations where the Company has a right to consideration from customer in an amount that corresponds directly with the value to the customer of the Company''s performance completed to date. Accordingly, the Company recognises revenue by an amount to which the Company has a right to invoice.

Remaining performance obligations are subject to variability due to several factors such as changes in scope of contracts, periodic revalidations of the estimates, economic factors (changes in currency rates, tax laws etc). The aggregate value of transaction price allocated to remaining performance obligations is '' 3,200 Crores out of which 35%-45% is expected to be recognised as revenue in the next year and the balance thereafter.

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Mar 31, 2018

Note 1 : Company Overview

R.P.P. Infra Projects Limited has been engaged in nation-building since 1995. It is engaged in construction across multiple infrastructure verticals like roads, buildings, industrial structures, power, irrigation and water management and has executed many projects in Tamil Nadu,Kerala, Karnataka, Andhra Pradesh, Telungana, Madhya Pradesh and Maharastra for 20 years.

Note

The Company has elected to continue with the carrying value of its other Property Plant & Equipment (PPE) recognised as of 1 April 2016 (transition date) measured as per the Previous GAAP and used that carrying value as its deemed cost as on the transition date as per Para D7AA of Ind AS 101 except for decommissioning provision included in the cost of other Property, Plant and Equipment (PPE) which has been adjusted in terms of para D21 of Ind AS 101 "First -time Adoption of Indian Accounting Standards”

Note: 2

There are arbitration proceedings going on irrespective of the following departments - Rites - Rs.2.13 crore, NTECL – Rs.27.30 crore, SIPCOT - ''0.75 crore that are shown as receivables. The Company has filed the necessary papers with arbitrators and the above receivables are considered good for recovery.

Note: 3 Balances with the third parties are subject to external confirmation.

Note 4 : Terms / rights attached to equity shares

The company has only one class of equity share having a par value of Rs.10 per share. Each shareholder of equity shares is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing general meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of preferential amounts. the distribution will be in proportion to the number of equity shares held by shareholders.

The Income Tax Department conducted a search operation u/s 132 of the Income Tax Act 1961 on the Company during March 2016 and recovered documents relating to inadmissible expenses for the years 2010 - 2016. The Company has filed a petition with the Honorable Income Tax Settlement Commission admitting additional tax of Rs.17.96 crore. This pertains to financial years 2010-2016. Application was made to Settlement Commission and 2 hearings are over. The afore mentioned amount was paid in December 2017.The tax effects of corrections of prior period errors and of retrospective adjustments made to apply changes in accounting policies are accounted for and disclosed in accordance with Ind AS 12, Income Taxes, as Ind AS 8 does not apply to prior period taxes. Para 80 (b) of Ind AS 12 also says tax expense would include: (b) any adjustments recognized in the period for current tax of prior periods.

Note 5 : Earnings per share (EPS)

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.The Company does not have any diluted shares

Note 6 : Gratuity & other post employment benefit plans

Disclosure of particulars of " Employees Benefits " as required by Indian Accounting Standard 19- Gratuity Plan

The Company has defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The scheme is funded with Insurance Company in the form of a qualifiying Insurance Policy.

"Each year, the Board of Trustees reviews the level of funding in the gratuity plan. Such a review includes the asset-liability matching strategy and investment risk management policy. The Board of Trustees decides its contribution based on the results of this annual review. Generally, it aims to have a portfolio mix of equity instruments and debt instruments. Generally equity instruments should not exceed 15% of total portfolio. The Board of Trustees aim to keep annual contributions relatively stable at a level such that no plan deficits (based on valuation performed) will arise. The plan assets include significant investment in Debt Fund, hence, the Company is not exposed to any market risk"

The following table summarises the components of net benefit expense recognised in the statement of profit or loss and the funded status and amounts recognised in the balance sheet.

The discount rate indicated above reflects the estimated timing and currency of benefit payments. It is based on the yields / rates available on applicable bonds as on the current valuation date.

The salary growth rate indicated above is the Company''s best estimate of an increase in salary of the employees in future years, determined considering the general trend in inflation, senority, promotions, past experience and other relevant factors such as demand and supply in employment market, etc.

Attrition rate indicated above represents the Company''s best estimate of employee turnover in future (other than on account of retirement, death or disablement) determined considering various factors such as nature of business, retention policy, industry factors, past experience, etc.

Sensitivity Analysis

Significant actuarial assumptions for the detemination of the defined benefit obligation are discount rate, expected salary increase and mortality. The sensitivity analysis below have been determined based on reasonably possible changes of the assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The results of sensitivity analysis is given below:

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Sensitivity due to mortality & withdrawals are not material & hence impact of change not calculated. Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet.

1. The Company is contesting the demands and the Management, including its legal counsel/Tax Advisors, believe that it is possible, but not probable, the action will succeed and accordingly no provision for liability has been recognised in the financial statements.

2. The Income Tax department had conducted a search u/s 132 during the end of financial year 2015-2016 and the company has filed Apllication before Settlement Commission during Dec - 2017. As for as 31.03.2018 is concerned ,Application has been admitted by the commission and the hearing process is going on

3. As per the Income tax portal, a sum of Rs.0.33 lakh is shown as due from the company towards TDS dues. However the company has cleared the entire due on 31-03-2018 and is awaiting the revision in the portal. Due to this reason, this amount is not shown as payable in the contingent liabilities table.

Note 7 : Segment Information

The company''s operations predominantly consist of construction / project activities.

Hence there are no reportable segments under Indian Accounting standard -108 - ''Operating Segments''

Note 8 : Details of dues to Micro and Small Enterprises as defined under MSMED Act, 2006

There are no overdue amounts payable to Micro, Small and Medium Enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006 based on information available with the Company. Further, the Company has not paid any interest to any Micro and Small Enterprises during the year ended 31 March 2018.

Note 9 : Financial Instruments Disclosure

9.1 Capital management

The Company''s objective when managing capital is to:

(i) Safeguard its ability to continue as going concern so that the Company is able to provide maximum return to stakeholders and benefits for other stakeholders; and

(ii) Maintain an optimal capital structure to reduce the cost of capital.

(iii) The company maintains its financial framework to support the pursuit of value growth for shareholders, while ensuring a secure financial base. In order to maintain or adjust the capital structure, the Company may return capital to shareholders, issue new shares or sell assets to reduce debt.

The capital structure of the Company comprises of equity share capital, retained earnings and other equity attributable to equity holders.. The Company is not subject to any externally imposed capital requirements.

9.2 Financial Risk Management Objectives

In course of its business, the Company is exposed to certain financial risks that could have significant influence on the Company''s business and operational / financial performance. These include market risk (including currency risk and interest rate risk), credit risk and liquidity risk.

The Management reviews and approves risk Management framework and policies for managing these risks and monitor suitable mitigating actions taken by the management to minimise potential adverse effects and achieve greater predictablity to earnings.

In line with the overall risk management framework and policies, the treasury function provides services to the business, monitors and manages through an analysis of the exposures by degree and magnitude of risks

9.3 Market Risk

Market risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of a business. The major components of market risk are foreign currency exchange risk and interest rate risk.

9.4 Foreign Currency Risk Management

The company has overseas subsidiaries which are however are not material subsidiaries. Net amount payable / receivable are not hedge and company is hopeful of recovering the same in ensuing financial year. There are no other foreign currency risk exposure to the Company.

9.5. Interest rate risk.

The Company is not exposed to interest rate risk because of borrowal of funds at fixed interest rates. The company''s exposure to interet rate on borrowings are detailed in note 18.

9.6 Credit Risk

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables. The customer profile consists of around 60-70% from Govt. Sectors

9.7 Liquidity Risk

The Company manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.

The Company manages liquidity risk by maintaining sufficient cash and cash equivalents including bank deposits and availability of funding through an adequate amount of committed credit facilities to meet the obligations when due. Management monitors rolling forecasts of liquidity position and cash and cash equivalents on the basis of expected cash flows. In addition, liquidity management also involves projecting cash flows considering level of liquid assets necessary to meet obligations by matching the maturity profiles of financial assets ^liabilities and monitoring balance sheet liquidity ratios.

Note 10 : Joint Venture Agreement

The Company has an incorporated JV with the Party Ramalingam Construction Company Pvt Ltd with whom a project was jointly bidded and obtained. However, the execution was fully done by the company. Company has agreed to pay 2% of Turnover of this project as Royalty to the Partner and this amount has been charged off to the Statement of Profit & Loss.

Note 11 : Corporate Social Responsibility

The CSR expenditure comprises the following:

(a) Gross amount required to be spent by the Company during the year: ''0.94 crore (Previous year Rs.0.53 crore)

(b) Amount spent during the year Rs.1.19 crore

Foot notes to the reconciliation of equity as at 1 April 2016 and 31 March 2017 and profit or loss for the year ended 31 March 2017 A Property, plant and equipments and intangible assets

The Company has elected to continue with the carrying value of all of its property, plant and equipment and intangible assets recognised as at 1 April 2016 (the transition date) measured as per the previous GAAP as its deemed cost as of the transition date. Accordingly, the gross block as at 1 April 2016 is net of accumulated depreciation/ amortisation and impairment.

B. Investments Carried at fair value through P& L

Under Indian GAAP, the Company accounted for investments in equity instruments as investment measured at the lower of cost or market value. Under Ind AS, the Company has measured such investments at fair value. The difference between fair value and Indian GAAP carrying amount has been recognized in retained earnings.

C. Proposed Dividend

Under Indian GAAP, proposed dividends including DDT were recognised as a liability in the period to which they relate, irrespective of when they are declared till March 2016. From financial year ending on March 2017, dividend declared after the balance sheet is not considered as an adjusting event. Thus, the opening Ind AS balance sheet as on 1 April 2016 has a liability recognized. Under Ind

AS, a proposed dividend is recognised as a liability in the period in which it is declared by the company (usually when approved by shareholders in a general meeting) or paid. In the case of the Company, the declaration of dividend occurs after period end. Therefore, the liability of 1.36 for the year ended on 31 March 2016 recorded for dividend has been derecognised against retained earnings on 1 April 2016.

D. Other Comprehensive Income

Both under Indian GAAP and Ind AS, the Company recognised costs related to its post-employment defined benefit plan on an actuarial basis. Under Indian GAAP, the entire cost, including actuarial gains and losses, are charged to profit or loss. Under Ind AS, remeasurements [comprising of actuarial gains and losses, and the return on plan assets excluding amounts included in net interest on the net defined benefit liability] are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through OCI. Thus the employee benefit cost is increased by 0.03 for the year 2016-17 and remeasurements gains / losses on defined benefit plans has been recognized in the OCI net of tax.

Other other differences pertain to reclassifications for the purpose of Ind AS

Statement of cash flows

The transition from Indian GAAP to Ind AS has not had a material impact on the statement of cash flows.

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Mar 31, 2015

Note No.1.1

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to one vote per share.

Note No.2.1 - Proposed Dividend

The Directors recommend payment of dividend of Re.0.50 per equity share of Rs.10 each on the number of shares outstanding as on the record date. Provision for Dividend has been made in the books of account for 22600584 equity shares outstanding as at 31st March 2014 amounting to Rs. 1,13,00,292/-

Note No.2.2

The above loan secured against Book Debts and Inventories in particular and entire Assets of the Company in General.

Note No.3.1

The Company has no due to the suppliers under the Micro, Small and Medium enterprises Development Act, 2006 as at 31st Mar, 2015

The Balance of certain Sundry Creditors are subject to confirmation and reconciliation, if any.

Note No.4.1

The Balance of certain Sundry Debtors are subject to confirmation and reconciliation, if any.

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Mar 31, 2014

Note No.1.1 - Proposed Dividend

The Directors recommend payment of dividend of Re.0.50 per equity share of Rs.10 each on the number of shares outstanding as on the record date. Provision for Dividend has been made in the books of account for 22600584 equity shares outstanding as at 31st March 2014 amounting to Rs. 1,13,00,292/- Note

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Mar 31, 2013

Note No.1.1 Terms / Rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitles to one vote per share.

Note No.1.2

Details of Shares in the Company held by each shareholders holding more than 5% total Shares Issued, Subscribed and Paidup.

Note No.1.3 - Proposed Dividend

The Directors recommend payment of dividend of Re.0.50 per equity share of Rs.10 each on the number of shares outstanding as on the record date. Provision for Dividend has been made in the books of account for 22600584 equity shares outstanding as at 31st March 2013 amounting to Rs. 1,13,00,292/-

Note No.2.1

The Company has no due to the suppliers under the Micro, Small and Medium enterprises Development Act, 2006 as at 31st Mar, 2013

The above information is required to be disclosed under the Micro, Small and Medium Enterprises Act, 2006 and has been determined to the extent such parties have been identified on the basis of information available with the company.

Note No.3.1 The Customers'' Debit Notes for supply and provision of common items are net of the amount recoverable from our Sub-Contractors for similar common item provided by us.

Note No.4.1 Remuneration paid to Chairman and Managing Director and Whole Time Director does not exceed the limit specified in Schedule XIII of Companies Act,1956

5 Disclosure of Particulars of "Employees Benefits" as Required by Accounting Standard 15 – Gratuity Plan

6 Contingent Liabilities Rs. Crore

Particulars Period 2012-13 2011-12

Counter Indemnities given to Banks in respect of contracts 56.59 33.68

Income Tax Liability that may arise in respect of which Company is in appeal 2005-06 0.24 0.24

Income Tax Liability that may arise in respect of which Company is in appeal 2008-09 5.19 5.19

Service Tax liability that may arise in respect of matters in appeal 2008-09 2.02 2.52

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Mar 31, 2012

1) Figures for the previous year have been regrouped/ reclassified wherever necessary.

Note No.2.1

The Company has only one class of equity shares having a par value of T10/- per share. Each holder of equity share is entitiles to one vote per share.

Note No.2.2

Details of Shares in the Company held by each shareholders holding more than 5% total Shares Issued, Subscribed and Paidup.

Nate No.2.3 - Proposed Dividend

The Directors recommend payment of dividend of Re.0.50 per equity share of Rs.10 each on the number of shares outstanding as on the record date. Provision for Dividend has been made In the books of account for 22600584 equity shares outstanding as at 31st March 2012 amounting to Rs. 1,13,00,292/-

Note No.3.1

The Company enjoys Cash Credit facilities which are secured by ways of Book Debts, Work In Progress and Inventories at sites and these loans are repayble on demand from the respective Financial Institutions.

NoteNo.4.1

The Company has no due to the suppliers under the Micro, Small and Medium enterprises Development Act, 2006 as at 31st Mar, 2012

The above information is required to be disclosed under the Micro, Small and Medicum Enterprises Act, 2006 and has been determined to the extent such parties have been identified on the basis of information available with the company

Note No. 5.1

Inventories and other construction materials are valued at the lower of cost and net realizable value.

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Mar 31, 2011

1. The Company was awarded a contract by Superintending Engineer, PWD, WRO for the work of “Second Madras Water Supply Project – New Veeranam Improvement of Vadavar Channel. The Company entered into an agreement dated September 22, 1997 with the Superintending Engineer in relation to the above mentioned Project. The Company completed the Project on August 5, 2004 and handed over the completed Project site to PWD. But, certain payments amounting to Rs.363.85 lakhs were not settled and hence theCompany invoked arbitration on December, 7, 2007 claiming an aggregate amount of Rs.363.85 lakhs (Rs.3,63,84,546) out of which Rs.97.65 lakhs (Rs.97,64,152) is the amount of pending Project bills. The matter is pending for Final Order.

2. The Company has issued a notice dated July 16, 2008 on Cavery Hi-Tech Weaving Park for non-payment of Rs.212.42 lakhs (Rs.2,12,42,142.94) towards completion of construction of infrastructure development.

3. The Company has filed arbitration proceeding against M/s. South India Mills Association (SIMA) for a non-payment of Rs.380 Lakhs for the work done in the earth site at Cuddalore. Arbitration proceeding completed and awaiting for judgement.

14. Related Party Disclosures:

As per annexure enclosed.

3. OTHERS:

a) Capital

During the year, Company has completed its Initial Public Offer (IPO) and consequently, the Company has allotted 65,00,584 equity shares of Rs. 10/- each at a price of Rs. 75/- per share on 5/12/2010. Equity shares of the Company were listed for trading on National Stock Exchange and Bombay Stock Exchange on 06/12/2010.

b) Share issue expenses are to be amortised over a period of 5 years. Issue expenses which are apportionable, pertaining to the shares sold by the promoters, are charged to the promoters.

e) Balances in the accounts of sundry creditors and debtors and loans and advances are subject to confirmation. Confirmation from the management has been relied upon for the non provision of bad and doubtful debts.

f) Where external vouchers are not obtainable (e.g. sand, stone, bricks, etc.) internal vouchers have been relied upon.

g) Management representation for Deposits amounting to Rs.2.69 Crores have been relied upon since external confirmations pertaining to the same are not available.

h) Management has confirmed that the debit balances in withheld amounts pertaining to closed contracts amounting to Rs. 140 Lakhs are good for recovery.

i) Last year's figures have been regrouped wherever necessary to conform to this year's classification.