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NOTES TO ACCOUNTS

Akash Infra-Projects Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 105.05 Cr. P/BV 1.50 Book Value (₹) 41.41
52 Week High/Low (₹) 65/33 FV/ML 10/2000 P/E(X) 61.50
Bookclosure 08/03/2019 EPS (₹) 1.01 Div Yield (%) 0.80
Year End :2018-03 

Notes to Account

PARTICULARS

As At 31/03/2018 Amt.

As At 31/03/2017 Amt.

Note 1 Share Capital a) Shareholder's Fund

SHARE CAPITAL

Authorised 1 10,00,000 Equity Shares of Rs.10/- each

110000000

110000000

Issued Equity Shares of Rs.10/- each

75882670

75882670

Subscribed Equity Shares of Rs.10/- each

75882670

75882670

Paid up Equity Shares of Rs. 10/- each

75882670

75882670

TOTAL:

75882670

75882670

(i) Details of shares held by each shareholder holding more than 5% shares:

Class of shares / Name of shareholder

As at 31 March, 2018

As at 31 March, 2017

Number of shares held

% holding in that class of shares

Number of shares held

% holding in that class of shares

Equity shares with voting rights Yoginkumar H.Patel

1813600

23.90%

1813600

23.90%

Ambusinh P.Gol

1813600

23.90%

1813600

23.90%

Premalsinh P.Gol

400000

5.27%

400000

5.27%

Dineshbhai H.Patel

400000

5.27%

400000

5.27%

PARTICULARS

As At 31/03/2018 Amt.

As At 31/03/2017 Amt.

NOTE 2-RESERVES AND SURPLUS

(a) Securities premium account

203221330

203221330

(b) General reserve

51400000

51400000

Opening Balance of General Reserve

51400000

51400000

Opening Balance of Profit and Loss

342421067

298005900

Less:-Dividend for FY 2016-17

-7588267

Dividend Distribution Tax

-1544793

Add- Profit of the year

19565686

352853693

44415167

342421067

Closing Balance

607475023

597042397

Note 3 - Long-term borrowings #

Secured

HDFC Bank- Term Loan

4992122

10056011

CITI Bank Ltd

16285704

0

Yes Bank Ltd

4636296

0

Total

25914122

10056011

Note 4 - Other long-term liabilities

(a) Trade Payables:

(i) Trade /security deposits received (Sub Let)

102539864

88729316

Total

102539864

88729316

PARTICULARS

As At 31/03/2018 Amt.

As At 31/3/2017 Amt.

Note 5 - Short-Term Borrowings

(a) Loans repayable on demand

Oriental Bank of Commerce (Cash Credit)

202281621

32564363

CITI Bank Ltd

8834885

Yes Bank Ltd

2432605

HDFC Bank Ltd

10422066

7230391

Total

223971177

39794754

Note 6 - Trade payables *

Trade payables:

Creditors for Expenses

19788860

6305176

Creditors for Goods

150119342

10817942

Creditors Sub Let

67541645

79113358

Creditors for Capital Goods

556181

411556

Creditors- Others

508728

629499

Total

238514756

97277531

Note 7 -Other current liabilities©

(j) Other payables

(i) Statutory remittances (Contributions to PF and ESIC,

Withholding Taxes, Excise Duty, VAT, Service Tax, etc.)

0

403,428

(viii) Others

(b) TDS Payable

1733916

3455326

(c) VAT Payable

20450

1473393

Total

1754366

5332147

Note 8 - Short-term provisions

(b)

Provision - Others:

i) income Tax Payable

5250177

11308423

(ii) Provision for EPF/ESIC Payable

117094

147723

(iii) Provision for salary & Wages

6668712

4152777

(iv) GST Payable

1083112

(v) Provision for Expenses

8026546

3887064

Total

21145641

19495987

Details of Fixed Assets & Depreciation ( As per books of Accounts) As on 31/03/2018

Sr.

Name of Assets

Opg. Bal. As on 01/04/'17

Gross Block

Clg. Bal As. On 31/03/'18

Depreciation

Dep. deducted

Net Block

Addition

Deduction

Dep. Op. Bal

Dep. Rate %

Dep. for the yr

Adjustment / Deduction

Dep Clg Bal

As at 31.03.18

As at 31.03.17

1

Air Conditioner

1963959

457808

90000

2331767

1534595

31.23%

224906

84575

1674926

656841

429364

2

Computer and Software

1820007

156342

0

1976349

1711175

63.16%

87640

0

1798815

177534

108832

3

Electrification

9437510

0

0

9437510

7058671

25.89%

598711

0

7657382

1780128

2378839

4

Factory Building

6764461

3319620

10084081

4108729

9.50%

325273

4434002

5650079

2655732

5

Building Renovation

12547205

0

0

12547205

3850580

4.87%

423526

0

4274106

8273099

8696625

6

Furniture & Fixture

5243423

850595

0

6094018

4539416

25.89%

371536

0

4910952

1183066

704007

7

Laboratory Equipments

1370235

0

1370235

1086977

18.10%

65414

1152391

217844

283258

8

Fountain &

Decoration

Equipments

1553777

0

0

1553777

1476088

31.23%

0

0

1476088

77689

77689

9

Land (Free Hold)

1690291

1690291

0

0.00%

0

1690291

1690291

10

Motor Car

11973226

6258401

90000

18141627

6365136

31.23%

2990735

0

9355871

8785756

5608090

11

Office & Canteen

Equipments

2258532

186017

0

2444549

1978546

45.07%

166686

0

2145232

299317

279986

12

Kitchen

Equipments

1881811

0

1881811

1753074

31.23%

40204

1793278

88533

128737

13

Fun Equipments

776341

0

776341

737524

31.23%

737524

38817

38817

14

Office Building

2459537

2459537

2035081

4.87%

40323

2075404

384133

424456

15

Plant & Machinery

164747038

12975127

3402074

174320091

102916439

22.09%

15968855

2025914

116859380

57460711

61830599

16

Scooter & Bike

1314852

0

40630

1274222

402530

25.89%

222244

38297

586477

687745

912322

17

Storage Equipment

1613529

0

47224

1566305

609717

18.10%

199732

4496

804953

761352

1003812

18

Tools

1010165

1010165

738938

22.09%

59748

798686

211479

271227

19

Tractor and Trailer

46514

46514

44188

1 00%

44188

2326

2326

20

Tubewell

1803921

0

1803921

1416323

45.07%

139032

1555355

248566

387598

21

Party Plot Development

3315604

0

3315604

2652485

20.00%

663119

3315604

0

663119

22

Televisions

425090

0

425090

360950

31.23%

20030

380980

44110

64140

23

Vehicles

40179832

24888410

0

65068242

25175885

31.23%

8476721

0

33652606

31415636

15003947

Total

276196860

49092320

3669928

321619252

172553047

31084435

2153282

201484200

120135052

103643814

As at 31 March, 2018

As at 31 March, 2017

Unquoted

Total

Unquoted

Total

Note 10 - Non-current investments

Investments (At cost): Unquoted Equity Shares

(i) of subsidiaries Akash Infra Inc.,

855750

855750

855750

855750

(18750 Shares of Rs. 45.64/- each fully paid

(ii) of associates Akash PetrolumPvt Ltd

1200000

1200000

1200000

1200000

(1,20,000 Equity Shares as at 31/03/18 of Rs.10-/each fully paid) Akash Residency & Hospitality Pvt Ltd

(1,20,000 Equity Shares as at 31/03/18 of Rs.10-/each fully paid)

1200000

1200000

1200000

1200000

(iii) of other entities '- The Gandhinagar Urban Co-op Bank Ltd.

(500 Equity Shares of Rs. 1 0/- each fully pah

5000 d)

5000

5000

5000

Total

3,260,750

3,260,750

3260750

3260750

PARTICULARS

As At 31/03/2018 Amt.

As At 31/3/2017 Amt.

Note 11 Long-term loans and advances (Assets)

(a)

Security deposits AUDA

5364873

12060347

Depo. Leasehold Land (Derol & Khoraj )

25000000

25000000

Sabarmati Gas Ltd.

71277

71277

GEB

107510

107510

Labour Commissioner

10800

10800

GSPC Ltd. - Deposit

88815

88815

SGST Deposite

2984372

UGVCL

1826007

1650308

Akash Residency & Hospitality Pvt. Ltd

0

60782158

Depo. - Torrent Power

1486850

1486850

Adani Gas Ltd (Depo)

1660000

1660000

38600504

102918065

(i)

Service Tax credit receivable

8245

8245

(ii)

SGST\CGST Refundable

18942444

(iii)

VAT Refundable

0

3011745

(iv)

TDS receivable TDSAY-05-06 to AY 15-16

48877453

36291505

67828142

39311495

Total

106428606

142229560

Note 12 - Other Non-Current Assets

_

FDR(Dena Bank)

16560

16560

_

FDR(GNCB)

21810

21810

NSE

Security Deposit

0

2550000

NSE

Int. free security Deposit

34867

34867

Total

73237

2623237

As at 31 March, 2017

As at 31 March, 2016

Quoted

Total

Unquoted

Total

Note 13 Current investments -

Investment in Mutual Funds

50,000,000

50,000,000

PARTICULARS

As At 31/03/2018 Amt.

As At 31/3/2017 Amt.

Note 14 - Inventories

(At lower of cost and net realisable value)

(a) Raw materials

28090217

29592680

Goods-in-transit

(b) Work-in-progress

107500000

67043418

Goods-in-transit

(c) Consumable items (Power & Fuel)

2860685

2868914

Total

138450902

99505012

Note 15 - Trade Receivables

Trade receivables outstanding for a period exceeding six months from the date they were due for payment #

519229095

158030581

Unsecured, considered good

181345262

149701659

Total

700574357

307732240

Note 16 - Cash and cash equivalents

(a) Cash on hand

1176234

1076507

(b) Balances with banks

(i) In current accounts

'-State Bank Of India

27502

62431

'-Oriental Bank Of Commerce (Akash)

11226

10004425

-HDFC Bank & Credit Card (Pathika)

60253

218608

'-Oriental Bank Of Commerce (Pathika)

1149181

5598

(ii) In deposit accounts (Refer Note (i) below)

-FDR(O.B.C)

104268155

83726679

-FDR(S.S.N.N.L)

3580000

5665000

- Balances held as margin money or security against

borrowings, guarantees and other commitments (Refer Note (i) below)

-FDR(O.B.C{B.G.})

38954955

54970351

Total

149227505

155729599

PARTICULARS

As At 31/03/2018 Amt.

As At 31/03/2017 Amt.

Note 17 - Short-term loans and advances

(a)

Security deposits

1823157

2326399

Secured, considered good

(b)

Loans and advances to employees

Unsecured, considered good

141433

78052

(c)

Prepaid expenses - Unsecured, considered good

(For e.g. Insurance premium, Annual maintenance contracts, etc.)

2733050

3092848

(d)

Others (specify nature)

Deposit to Suppliers

9964

9964

D.G.Vanzara

12000

0

Akash Infra Inc

25000

0

IDS Receivable -Magma Fincorp

2609

2609

IDS Receivable -IOCL

0

59470

Adv. To Suppliers

72881246

58757146

Sub Total

77628459

64326488

Note: Short-term loans and advances include amounts due from: Firms in which any director is a partner (give details per firm) Private companies in which any director is a director or member (give details per company)

Akash Petroleum Private Limited

0

1533268

Aadhyashakti Minings P. Ltd.

42147255

44076841

Total

42147255

45610109

Note 18 - Other current assets

(iv) Others Interest Recievable

2295095

3019005

Total

2295095

3019005

Revenue from operations Sch-19

Works Income (Govt.)

1291028841

878758027

Works Income (Others)

65806432

9082926

Sales(Pathikashram)

36692485

32310590

Room Rent Income

8227630

7413009

Benquet Hall Income

3245289

2392478

Party Plot Income

0

0

Total

1405000676

929957030

Other Income Sch-20

Scrap Sales

5238

0

Interest Income

10060868

9042514

Interest on Income Tax Refund

181520

1468643

Rent Income

600000

600000

Discount and Rebate

34994530

0

Prior Period Income

152811

0

Profit on jave statement

89332

0

Profit\Loss on Sales of Assets

268341

347101

Other Income

349

75313

Total

46312989

11533571

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