1. All amounts in the financial statements are presented in Indian
Rupees in lakhs except per share data and as otherwise stated. Figures
in brackets represent corresponding previous year figures in respect of
Profit & Loss items and in respect of Balance Sheet items as on the
Balance Sheet date of the previous year. Figures for the previous year
have been regrouped / rearranged wherever considered necessary to
confirm to the figures presented in the current year.
During the year ,the company has opened a branch at Dubai on
26-04-2010. This branch operations are controlled by Sri K Jalandhar
Reddy, Executive Director of the Company.
During the year, the company purchased all the equity shares in KNRCL
FZE, a foreign company, which was owned by Sri K. Narasimha Reddy, M.D
of KNR Constructions Ltd., on 29-11-2010. Against this transaction ,
the company has not paid the purchase consideration of Rs 48,88,337/-
to Sri K. Narasimha Reddy as on 31-3-2011 . Sri K. Narasimha Reddy has
been appointed as the Director of this company. Five Equity shares,
face value of AED 100000 each have been purchased from Sri. K.
Narasimha Reddy , M.D of KNR Constructions Ltd and purchase value of
each share is AED 78174 as on 29-11-2010.
During the year ,the company purchased all the equity shares in KNR
Infra Projects Pvt Ltd., Hyderabad on 28.03.2011 which was promoted by
Sri K Jalandhar Reddy and Sri J.V Panindra Reddy. The total purchase
consideration of Rs. 1,00,000/- has been paid to the said persons
during the financial year .
Additional amount of depreciation has been charged to the Profit & Loss
A/c to the tune of Rs 9,44,94,285/-during the financial year on account
of the change in accounting policy of providing depreciation on plant
and machinery for few projects only from Written Down Value Method to
Straight Line Method based on the useful lives estimated by the
management .
2. Contingent Liabilities not provided for Rs. in Lakhs
Sl
No Particulars 2010-11 2009-10
a. Bank Guarantees
- for Company 31434.05 19338.34
- for Joint Ventures'' 3197.36 4086.20
-for Subsidiaries Nil Nil
- for Associates (SPVs) 200.00 622.32
Total 34831.41 24,046.86
b. Corporate guarantees given to
banks and financial institutions for
financial assistance extended to Subsidiaries,
Associates and Joint Ventures 13642.25 52642.25
c. Counter Guarantees to Corporates 280.00 Nil
d. Letters of Credit Nil Nil
e. Demands against the Company not
acknowledged as debts and not
provided for in respect of which the
Company has filed appeal.
- Income Tax 2954.75 4.68
- Sales Tax / VAT / Entry Tax 1481.99 156.50
f. Claims against the Company not
acknowledged as debts Nil Nil
g. Joint and several liabilities in respect of joint venture projects
and liquidated damages in respect of delays in completion of projects -
amounts are not ascertainable.
3. The Company has not received any intimation from ‘Suppliers''
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any relating to amounts
unpaid as at the year end together with interest paid /payable as
required under the said Act have not been given.
4. Segmental Reporting
The Company''s operations consist of Construction activities. Hence,
there are no reportable segments under Accounting Standard – 17. During
the year under report, the Company has engaged in business in India
only and not in any other Country. The conditions prevailing in India
being uniform, no separate geographical disclosures are considered
necessary.
5. Related Party Transactions
A. Following is the list of related parties and relationships:
Sl.
No Particulars
A) Subsidiaries
KNR Agrotech Beverages Pvt Ltd.,
KNR Constructions LLC, Oman
KNR – FZE *
KNR Infrastructure Projects Pvt Ltd., **
B) Joint Ventures
KNR – Patel JV
Patel – KNR JV
NCC-KNR JV
KNR – SLEC JV
KNR-BPL JV
KNR-GVR-JV
KNR-JKM-KAMAL-JV
C) Associates
Patel-KNR Infrastructure Ltd.,
Patel-KNR Heavy Infrastructure Ltd.,
D) Key Management Personnel
Sri K Narasimha Reddy , M.D
Sri K Jalandhar Reddy, E.D
Sri JV Panindra Reddy, E.D
Sri M. Rajesh Reddy, E.D
Sri M. V Venaka Rao, CS
Sri G. Sravana Kumar, G.M
E) Relatives of Key Management Personnel
NIL
F) Enterprises owned or significantly influenced by key management
personnel or their relatives
Yuvashakthi Enterprises (Firm)
KNR Infrastructure Projects Pvt Ltd.,
Vishnu Publicity Solutions Pvt. Ltd.,
Trapezoid Software Solutions Pvt. Ltd.,
Mesmeric Software Solutions Pvt. Ltd.,
Nag Talent Ventures & Infotech Pvt. Ltd.,
* Has become a subsidiary with effect from 29-11-2010.
** Has become a subsidiary with effect from 28-03-2011.
6. There was no impairment Loss on fixed assets on the basis of
review carried out by the management in accordance with Accounting
Standard-28 issued by the Institute of Chartered Accountants of India.
Further during the review of assets of the company, those assets which
are found having nil market value have been written off in the
accounts.
7. Debit and credit balances of parties are subject to confirmation
by the respective parties.
8. Additional information pursuant to provisions of Para 3, 4C and 4D
of Part – II of Schedule VI of Companies Act, 1956 – not applicable.
9. Figures of previous year have been regrouped / rearranged wherever
necessary to conform to the current year presentation.
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