Note 1: General Corporate Information.

At PrakashConstrowell Limited, we are basically engaged in the business of construction for government and semi-government authorities such as buildings, quarters, roads, bridges, airports, godowns, hospitals, etc and works for private bodies for construction of industrial buildings, residential & commercial complex, townships, health care centres and institutional campus with all related utility services. The company is also engaged in the business of real estate development.

Notes:

(a) The company has only one class of shares referred to as equity shares having a par value of Rs.1 each. Each holder of equity shares is entitled to one vote per share

A. Disclosure required under the Micro, Small and Medium Enterprises Development Act, 2006:

The company has not maintained the records and details of its suppliers regarding their status as Micro, Small and Medium Enterprises as defined under “Micro, Small and Medium Enterprises Development Act, 2006 “. Since the details are not available in this regards it is not possible for us to give necessary disclosures required.

The stage of completion of contract is determined as the proportion that contract costs are incurred for execution of work to the estimated total contract costs as on reporting date. Revenue is recognised in percentage of stage of completion.

Expected variations in works contract, claims and incentive payments are included in contract revenue only when revenue is certain and capable of being measured reliably. Figures disclosed above are only relating to contracts in progress

B. Disclosure pursuant to Indian Accounting Standard (Ind-AS) 19 Employees Benefits:

i) Defined Contribution Plan:

Employer’s contributions to defined Contribution Plan, recognised as expenses for the year are as under:

The above mentioned figures are as complied and reported by the management.

ii) Defined Benefit Plan:

The present value of obligation for Defined benefit plan is based on the independent actuarial valuation for the year, it was provided on ad hoc basis for last year. The disclosures as required as per the IndAS-15 are as under:

The estimates of future salary increases, considered in the actuarial valuation take account of inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employee market.

The expected rate of return on the plan assets is determined considering several applicable factors, mainly the composition of plan assets held, assessed risk, and historical results of returns on plan assets etc.

C. The company has credited to the profit and loss account Rs. 1,11,770/- being the excess provision of Income Tax for the Previous Year.

D. The Company do not have significant influence on any associate or joint venture, hence the reporting requirements of Ind-AS 28 “Investment in Associates and Joint Venture” is not applicable to it.

E. The Previous year figures are regrouped and rearranged wherever necessary, to confirm with current year’s presentation.