NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018
(Amounts in
|
Note No.
|
Particulars
|
As at 31st March, 2018
|
As at 31st March, 2017
|
|
2
|
Share Capital
|
|
|
| |
Authorised :
|
|
|
| |
9500000 (P.Y. 9500000) Equity Shares of Rs. 10/- each
|
9,50,00,000
|
9,50,00,000
|
| |
Issued, Subscribed and Paid-up:
|
|
|
| |
9322550 (P.Y. 9322550) Equity Shares of Rs. 10/- each
|
9,32,25,500
|
9,32,25,500
|
| |
|
9,32,25,500
|
9,32,25,500
|
| |
a. The number of shares and amount outstanding at the beginning and at the end of the reporting year is same.
|
|
|
| |
b. 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 same right in all the assets.
|
|
|
| |
c. Detail of shares held by the holding company
|
|
|
| |
Particulars
|
No. of Shares Held
|
No. of Shares Held
|
| |
Marigold Investrade Private Limited
|
5880250
|
5505850
|
| |
d. Shares in the Company held by each shareholders holding more than 5% shares:
|
|
|
| |
No. of Shareholders each holding more than 5% of the share capital
|
No. of Shares Held Percentage of holding
|
No. of Shares Held Percentage of holding
|
| |
One shareholder (P.Y. One shareholder)
|
5880250
|
5505850
|
| |
|
63.08%
|
59.06%
|
|
3
|
Reserves & Surplus
|
|
|
| |
a. Statutory Reserve / Special reserve as per RBI Act
|
1,95,000
|
1,95,000
|
| |
Add: Set aside during the year
|
1,47,24,000
|
NIL
|
| |
Closing Balance
|
1,49,19,000
|
1,95,000
|
| |
b. Amalgamation Reserve (Opening & Closing Balance)
|
61,26,51,582
|
61,26,51,581
|
| |
c. General Reserve
|
|
|
| |
Opening Balance
|
NIL
|
NIL
|
| |
Add: Addition during the year
|
1,84,04,000
|
NIL
|
| |
Closing Balance
|
1,84,04,000
|
NIL
|
| |
d. Surplus in Statement of Profit and Loss
|
|
|
| |
Opening Balance
|
4,78,21,580
|
41,57,030
|
| |
Add: Net Profit for the current year
|
7,36,15,247
|
4,36,64,550
|
| |
Amount Available for appropriations
|
12,14,36,828
|
4,78,21,580
|
| |
Less : Transfer to Reserve Fund in terms of section 45-IC(1) of the Reserve Bank of India Act, 1934
|
1,47,24,000
|
NIL
|
| |
Less : Transfer to General Reserve
|
1,84,04,000
|
NIL
|
| |
Dividend
|
93,22,550
|
NIL
|
| |
Tax on Dividend
|
18,97,852
|
NIL
|
| |
Closing Balance
|
7,70,88,426
|
4,78,21,580
|
| |
|
72,30,63,007
|
66,06,68,162
|
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018
(Amounts in Rs)
|
Note No.
|
Particulars
|
As at 31st March, 2018
|
As at 31st March, 2017
|
|
4
|
Long-term Borrowings
|
|
|
| |
Secured*
|
|
|
| |
- Term Loan from IL&FS Financial Services Ltd
|
41,03,65,365
|
50,00,00,000
|
| |
Less: Amount disclosed under the head
|
10,52,80,000
|
7,89,47,367
|
| |
Other Current Liabilities (Refer Note 8)
|
|
|
| |
|
30,50,85,365
|
42,10,52,633
|
* The term loan from financial institution is repayable in 19 equated quarterly instalments starting from 1st July, 2017. The loan is secured against hypothecation of receivables of loans advanced to Kalyan Sangam Infratech Ltd. and Kalyan Toll Infrastructure Ltd. Current maturity of loan due and payable within a year is classified as other current liabilities (Refer Note 8).
|
5
|
Long -term Provisions
|
|
|
| |
Contingent Provision against Standard Assets
|
76,56,873
|
37,05,215
|
| |
|
76,56,873
|
37,05,215
|
|
6
|
Short-term Borrowings
|
|
|
| |
Unsecured
|
|
|
| |
--Loans from Others
|
2,02,84,16,890
|
55,58,75,352
|
| |
|
2,02,84,16,890
|
55,58,75,352
|
|
7
|
Short-term Provisions
|
|
|
| |
Provision for Tax (net of taxes paid)
|
78,19,297
|
53,98,702
|
| |
|
78,19,297
|
53,98,702
|
|
8
|
Other Current Liabilities
|
|
|
| |
Current maturity of long-term borrowings (Refer Note 4)
|
10,52,80,000
|
7,89,47,367
|
| |
Statutory Dues
|
66,61,385
|
54,13,453
|
| |
Other Payables
|
3,22,705
|
3,62,057
|
| |
Unclaimed Dividend
|
72,446
|
Nil
|
| |
|
11,23,36,536
|
8,47,22,877
|
9 Tangible Fixed Assets
(Amounts in Rs)
| |
GROSS BLOCK
|
DEPRECIATION
|
NET BLOCK
|
|
Description
|
As AT 01/04/17
|
ADDITIONS/ (DEDUCTIONS)
|
As At 31/03/18
|
As At 01/04/17
|
FOR THE YEAR
|
As At 31/03/18
|
As At 31/03/18
|
As At 31/03/17
|
|
COMPUTER/ PRINTER
|
53,025
|
NIL
|
53,025
|
46,639
|
3,490
|
50,129
|
2,896
|
6,386
|
|
AIR CONDITIONER
|
23,500
|
NIL
|
23,500
|
21,165
|
1,160
|
22,325
|
1,175
|
2,335
|
| |
|
|
|
|
|
|
|
|
|
Total
|
76,525
|
NIL
|
76,525
|
67,804
|
4,650
|
72,454
|
4,071
|
8,721
|
|
Previous Year
|
76,525
|
NIL
|
76,525
|
55,898
|
11,906
|
67,804
|
8,721
|
20,627
|
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018
|
Note No.
|
Particulars
|
As at 1st March, 2018
|
As at 31st March, 2017
|
|
10
|
Non-current Investments
|
|
|
| |
Non-trade Investments
|
|
|
| |
Unquoted
|
|
|
| |
Investment in Equity Instruments
|
|
|
| |
1200 (1200) Eq. Shares of Rs.100/- each of Finworth Investment Pvt. Ltd.
|
12,00,000
|
12,00,000
|
| |
10000 (10000) Eq. Shares of Rs.10/- each of Parishray Elegancy Pvt. Ltd.
|
10,00,000
|
10,00,000
|
| |
10000 (10000) Eq. Shares of Rs.10/- each of Pisces Securities Pvt. Ltd.
|
10,00,000
|
10,00,000
|
| |
6665 (6665) Eq. Shares of Rs. 10/- each of Shiv Shivam Developers Pvt. Ltd
|
12,99,675
|
12,99,675
|
| |
|
44,99,675
|
44,99,675
|
| |
Investment in Preference Shares
|
|
|
| |
2000000 (2000000) Pref. Sh. of Rs. 10/- each of Keti Sangam Infrastructure (India) Limited
|
20,05,00,000
|
20,05,00,000
|
| |
|
20,05,00,000
|
20,05,00,000
|
| |
Total Non -current Investments
|
20,49,99,675
|
20,49,99,675
|
|
11
|
Deferred Tax Asset
|
|
|
| |
Major components of Deferred Tax Asset arising on account of temporary timing differences are given below:
|
|
|
| |
Deferred Tax Asset
|
|
|
| |
Difference between Book & Tax Depreciation
|
2,663
|
2363
|
| |
Deferred Tax Liability
|
|
|
| |
Difference between Book & Tax Depreciation
|
NIL
|
NIL
|
| |
Deferred Tax Asset (net)
|
2,663
|
2,363
|
|
12
|
Long-term Loans & Advances
|
|
|
| |
(Unsecured, considered good)
|
|
|
| |
Security Deposits
|
10,00,000
|
10,00,000
|
| |
Other Loans & Advances
|
|
|
| |
-- Advance Income Tax (net of Provision)
|
4,80,294
|
7,24,146
|
| |
-Service Tax Credit Available
|
NIL
|
10,441
|
| |
-GST Credit Available
|
17,399
|
NIL
|
| |
|
14,97,693
|
17,34,587
|
|
13
|
Cash & Bank Balances
|
|
|
| |
Cash & Cash Equivalents
|
|
|
| |
-Cash on Hand
|
33,061
|
58,038
|
| |
-Balance with Bank
|
|
|
| |
in Current Account
|
82,44,509
|
1,59,027
|
| |
Other Bank Balances
|
|
|
| |
-in Unpaid Dividend Accounts
|
72,446
|
NIL
|
| |
|
83,50,016
|
2,17,065
|
|
Note No.
|
Particulars
|
As at 31st March, 2018
|
As at 31st March, 2017
|
|
14
|
Short-term Loans & Advances
|
|
|
| |
(Unsecured, considered good)
|
|
|
| |
Loans and Advances
|
|
|
| |
to Staff
|
NIL
|
21,500
|
| |
to Others
|
3,06,27,49,348
|
1,48,20,64,531
|
| |
|
3,06,27,49,348
|
1,48,20,86,031
|
|
15
|
Other Current Assets
|
|
|
| |
Other Receivables
|
NIL
|
13,56,00,000
|
| |
|
NIL
|
13,56,00,000
|
|
16
|
Revenue From Operations
|
|
|
| |
Interest on Loan
|
21,58,35,560
|
9,08,88,000
|
| |
Syndication Fees
|
2,75,15,800
|
3,61,02,749
|
| |
|
24,33,51,360
|
12,69,90,749
|
|
17
|
Other Income
|
|
|
| |
Interest on I.T.Refund
|
15,847
|
NIL
|
| |
|
15,847
|
NIL
|
|
18
|
Employee Benefits Expenses
|
|
|
| |
Salary, bonus etc.
|
12,64,736
|
10,99,865
|
| |
Staff Welfare
|
3,058
|
1,425
|
| |
|
12,67,794
|
11,01,290
|
|
19
|
Finance Costs
|
|
|
| |
Interest on Loan
|
12,66,27,914
|
4,62,50,769
|
| |
Interest on deferement of advance tax
|
6,70,225
|
5,67,827
|
| |
Franking Charges and Stamp Duty
|
10,57,340
|
10,31,820
|
| |
Processing Fees for Loan
|
NIL
|
53,26,500
|
| |
|
12,83,55,479
|
5,31,76,916
|
|
20
|
Other Expenses
|
|
|
| |
Listing Fees
|
2,88,359
|
2,49,038
|
| |
Professional Fees
|
33,75,806
|
35,29,330
|
| |
Legal Fees
|
53,875
|
1,00,500
|
| |
Depository Charges
|
48,488
|
68,701
|
| |
Advertisement
|
35,681
|
54,743
|
| |
Auditors' Remuneration
|
|
|
| |
- For Statuory Audit
|
38,625
|
25,125
|
| |
- For Tax Audit
|
16,450
|
10,050
|
| |
- For Income Tax Matters
|
Nil
|
2,512
|
| |
- For Certification & Other Matters
|
10,700
|
13,754
|
| |
Internal Audit Fees
|
32,700
|
17,250
|
| |
Secretarial Audit Fees
|
63,100
|
29,500
|
21 Segment Reporting
The Company is engaged solely in financial & investment activity segment and all activities of the Company revolve around this business. As such there are no other reportable segment as defined by Accounting Standard -17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India.
22 As per Accounting Standard -18 on" Related Party Disclosure" issued by the Institute of Chartered Accountants of India, there were no transactions and outstanding year end balance with related parties during the year.
24 A dividend at the rate of Rs. 1.20 per share for the year 2017-18 has been recommended by the Board of Directors for declaration at the ensuing Annual General Meeting. The said dividend and dividend distribution tax on such dividend aggregating to Rs. 1,34,86,593/- is not provided in the accounts in conformity with the Accounting standard (AS 4) as revised.
25 Previous year figures
Previous Year's figures have been regrouped/reclassified, wherever necessary, to correspond with the current year's classification/disclosures.
|
Note No.
|
Particulars
|
As at 31st March, 2018
|
As at 31st March, 2017
|
| |
Filing Fees
|
1,000
|
10,885
|
| |
Printing & Stationery
|
4,307
|
5,461
|
| |
Office Rent
|
3,26,063
|
1,26,300
|
| |
Membership Fees
|
21,800
|
26,525
|
| |
Sundry Expenses
|
1,14,528
|
57,214
|
| |
Postage and Courier Charges
|
15,026
|
4,739
|
| |
Profession Tax
|
2,500
|
2,500
|
| |
Web Designing Charges
|
7,750
|
7,500
|
| |
Telephone Expenses
|
3,188
|
Nil
|
| |
Travelling Expenses
|
4,380
|
Nil
|
| |
|
44,64,325
|
43,41,627
|
23 Earnings PerShare (EPS)
| |
|
2017-18
|
2016-17
|
|
a)
|
Weighted Average Number of Equity Shares outstanding during the year
|
9322550
|
9322550
|
|
b)
|
Net Profit after tax available for Equity Shareholders (Rs.)
|
7,36,15,247
|
4,36,64,550
|
|
c)
|
Basic and Diluted Earnings Per Share (Rs.)
|
7.90
|
4.68
|
|
d)
|
Nominal Value Per Share (Rs.)
|
10/-
|
10/-
|
The Company does not have any outstanding dilutive potential equity shares.
| |
For and on behalf of the Board
|
|
For S. S. Rathi & Co
Chartered Accountants
|
For Suchitra Finance & Trading Co. Ltd.
|
|
(Firm Regn. No.108726W)
|
|
|
D. P. Rathi
|
Vinod K. Sodani
|
Anjana Soni Thakur
|
|
Partner
|
Chairman
|
Whole Time Director
|
|
Mem. No. 042068
|
DIN: 00403740
|
DIN: 00401469
|
|
Place : Mumbai
|
Govinda Soni
|
Antima Soni
|
|
Dated: 30th May, 2018
|
Company Secretary
|
Chief Financial Officer
|
|