1.1 Corporate information
 
 Man Infraconstruction Limited is a Public Company domiciled in India
 and incorporated under the provisions of the Companies Act, 1956. Its
 shares are listed on two (2) Stock Exchanges in India. The Company was
 incorporated on 16th August, 2002 and is engaged in the business of
 Civil Construction.
 
 1.2 Basis of preparation of Financial Statements:
 
 These financial statements are prepared and presented under the
 historical cost convention, on the accrual basis of accounting, in
 accordance with the provisions of the Companies Act, 1956 (''the Act''),
 the accounting principles generally accepted in India (Indian GAAP) and
 comply with the Accounting Standards notified under Section 211(3C)
 prescribed in the Companies (Accounting Standards) Rules, 2006 issued
 by the Central Government, in consultation with the National Advisory
 Committee on Accounting Standards, to the extent applicable.
 
 All assets and liabilities have been classified as current or
 non-current as per the Company''s normal operating cycle and other
 criteria set out in the Revised Schedule VI to the Companies Act, 1956
 notified by MCA vide its Notification no. 447(E) dated 28th February
 2011. Based on the nature of Operations and the time between the
 acquisition of assets for processing and their realization in cash and
 cash equivalents, the Company has ascertained its operating cycle as
 less than 12 months for the purpose of current - non current
 classification of assets and liabilities.
 
 The accounting policies adopted in the preparation of financial
 statements are consistent with those of previous year, except for the
 change in accounting policy explained below in Note No.1.3.
 
 1.3 Change in accounting policy
 
 1.3.1 Dividend on investment in subsidiary companies Till the year
 ended 31st March, 2011, the Company, in accordance with the pre-revised
 Schedule VI requirement, was recognizing dividend declared by
 subsidiary companies after the reporting date in the current year''s
 Statement of Profit and Loss if such dividend pertained to the period
 ending on or before the reporting date. The revised Schedule VI,
 applicable for financial years commencing on or after 1st April, 2011,
 does not contain this requirement. Hence, to comply with AS 9 Revenue
 Recognition, the Company has changed its accounting policy for
 recognition of dividend income from subsidiary companies. In accordance
 with the revised policy the Company recognizes dividend as income only
 when the right to receive the same is established by the reporting
 date.
 
 Had the Company continued to use the earlier policy of recognizing
 dividend, the credit to the Statement of Profit and Loss after tax for
 the current year would have been higher by Rs. 402.34 lakhs and the
 current assets would correspondingly have been higher by Rs. 402.34
 lakhs.
 
 1.3.2 Depreciation
 
 During the year ended 31st March, 2012, the depreciation accounting
 policy in respect of Steel shuttering material (included in Shuttering
 Materials) has been changed with retrospective effect from written down
 value method of providing depreciation at 20% to straight line method
 of providing depreciation considering a useful life of five years for
 the said assets. Consequent to this, the depreciation in respect of the
 past years amounting to Rs. 153.75 lakhs ( net of deferred tax) has been
 charged to the Statement of Profit and Loss for the year.
 
 Had the Company continued to use the earlier policy of charging
 depreciation on steel shuttering material, the debit to the Statement
 of Profit and Loss after deferred tax for the current year would have
 been lower by Rs. 305.49 lakhs.
 
 1.4 Use of Estimates:
 
 The Preparation of the financial statements in conformity with Indian
 GAAP requires that the management makes estimates and assumptions that
 affect the reported amounts of assets and liabilities, disclosure of
 contingent liabilities as at the date of Financial Statements and
 reported amounts of revenue and expenses during the reported period.
 Although such estimates are on a reasonable and prudent basis taking
 into account all available information, actual results could differ
 from estimates. Differences on account of revision of estimates /
 actual outcome and existing estimates are recognized prospectively once
 such results are known / materialized in accordance with the
 requirements of the respective accounting standard, as may be
 applicable.
 
 1.5 Tangible fixed assets:
 
 Fixed assets are stated at cost, net of accumulated depreciation and
 accumulated impairment losses, if any. The cost comprises purchase
 price, non refundable taxes, borrowing costs, if capitalization
 criteria are met and directly attributable cost of bringing the asset
 to its present location and condition for the intended use. Any trade
 discounts and rebates are deducted in arriving at the purchase price.
 
 1.6 Intangible assets:
 
 Intangible fixed assets are recognized only if they are separately
 identifiable and the Company expects to receive the future economic
 benefits arising out of them and cost of the assets can be measured
 reliably. Intangible assets are carried at cost less accumulated
 amortization and accumulated impairment losses, if any
 
 1.7 Depreciation and amortization:
 
 1.71 Depreciation on tangible fixed assets is computed on written down
 value method, at the rates and manner prescribed in Schedule XIV to the
 Act except with respect to Steel shuttering material and Lease- hold
 premises. Depreciation for assets purchased / sold during a period is
 proportionately charged.  Depreciation in respect of Steel Shuttering
 Material (included in Shuttering Materials) has been provided on
 straight line method considering a useful life of five years for the
 said assets. Leasehold premises are amortized on a straight line basis
 over the period of lease, i.e., 30 years.
 
 1.72 Individual assets costing less than Rs. 5,000 are depreciated in
 full in the year of purchase.
 
 1.73 Intangible assets are amortized on a straight line basis over the
 estimated useful economic life as follows:
 
 Design Charges for Shuttering Materials - amortized over expected
 project duration of 1-2 years Computer Software - 2 years.
 
 The amortization period and the amortization method are reviewed at
 least at each financial year end. If the expected useful life of the
 asset is significantly different from previous estimates, the
 amortization period is changed accordingly. If there has been a
 significant change in the expected pattern of economic benefits from
 the asset, the amortization method is changed to reflect the changed
 pattern. Such changes are accounted for in accordance with AS 5 Net
 Profit or Loss for the Period, Prior Period Items and Changes in
 Accounting Policies.
 
 1.8 Borrowing Costs :
 
 Borrowing costs that are attributable to the acquisition, construction
 or production of qualifying assets are treated as direct cost and are
 capitalized as part of cost of such assets. A qualifying asset is an
 asset that necessarily requires a substantial period of time to get
 ready for its intended use or sale. All other borrowing costs are
 recognized as an expense in the year in which they are incurred.
 
 1.9 Impairments:
 
 The carrying amounts of assets are reviewed at each Balance Sheet date
 when required to assess whether they are recorded in excess of their
 recoverable amounts, and where carrying values exceed this estimated
 recoverable amount, assets are written down to their recoverable
 amount. The reduction is treated as an impairment loss and is
 recognized in the Statement of Profit and Loss. If at the Balance Sheet
 date there is an indication that if a previously assessed impairment
 loss no longer exists, the recoverable amount is reassessed and the
 assets are reflected at the recoverable amount.
 
 1.10 Investments:
 
 Investments that are readily realizable and intended to be held as on
 date of investment for not more than a year are classified as current
 investments. All other investments are classified as long-term
 investments.  Current investments are carried at lower of cost and fair
 value determined on an individual investment basis.  Long-term
 investments are carried at cost. However, provision for diminution in
 value is recognized if it is other than temporary
 
 1.11 Inventories:
 
 1.11.1 Inventory of construction materials is valued at cost (net of
 indirect taxes, wherever recoverable) on FIFO method, net of provision
 for diminution in the value.  However, inventory is not written down
 below cost if the estimated revenue of the concerned contract is in
 excess of estimated cost.
 
 1.11.2Work-in-progress / other stock is valued at lower of cost and net
 realizable value.
 
 1.12 Revenue Recognition:
 
 1.12.1 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 1.12.2 Construction Contracts
 
 Contract revenue and expenses associated with the construction
 contracts are recognized by reference to the stage of completion of the
 project at the Balance Sheet date. The stage of completion of project
 is determined by considering all relevant factors relating to contracts
 including survey of work performed, on completion of a physical
 proportion of the work done and proportion of contract costs incurred.
 In the event of loss is estimated, provision is made up front for the
 entire loss irrespective of stage of work done. Variations, claims and
 incentives are recognized at advanced
 
 stages when it is probable that they will fructify
 
 1.12.3 Revenues from other contracts are recognized as and when
 services are rendered.
 
 1.12.4 Interest and dividend income
 
 Interest income is accounted on accrual basis.  Dividend income is
 accounted for when the right to receive it is established.
 
 1.12.5 Accounting for Lease Income
 
 Income earned by way of leasing or renting out of commercial premises
 is recognized as income in accordance with Accounting Standards 19 on
 Leases. Initial direct cost such as brokerage, etc. are recognized as
 expenses on accrual basis in the Statement of Profit and Loss in the
 year of lease.
 
 1.13 Foreign Currency Transactions:
 
 Foreign currency transactions are recorded at the exchange rate
 prevailing at the date of transactions.  Exchange gains and losses
 arising on settlement of such transactions are recognized as income or
 expense in the year in which they arise.
 
 Monetary assets and liabilities related to foreign currency
 transactions remaining unsettled at the end of the year are translated
 at the yearend rate and difference in translations and unrealized
 gains or losses on foreign currency transactions are recognized in the
 Statement of Profit and Loss.
 
 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.
 
 1.14 Employee Benefits:
 
 1.14.1 Short term employee benefits (benefits which are payable within
 twelve months after the end of the period in which the employees render
 service) are measured at cost and recognized during the period when the
 employee renders the service.
 
 The Company presents the entire leave as a current liability in the
 Balance Sheet, since it does not have an unconditional right to defer
 its settlement for 12 months after the reporting date.
 
 2 Long term employees benefits (benefits which are payable after the 
 end of twelve months from the end of the period in which the employees 
 render service) and Post employment benefits (benefits which are 
 payable after completion of employment) are measured on a discounted 
 basis by the Projected Unit Credit Method on the basis of annual third 
 party actuarial valuation and are recognized during the period when the 
 employee rendered the service.
 
 1.14.3 Contributions to provident fund, a defined contribution plan,
 are made in accordance with the rules of the statute and are recognized
 as expenses when employees have rendered service entitling them to the
 contributions.
 
 1.14.4 Actuarial gains / losses are immediately taken to the Statement
 of Profit and Loss and are not deferred.
 
 1.15 Taxes on income:
 
 Provision for Taxation is made on the basis of taxable Profits computed
 for the current accounting period (reporting period) in accordance with
 the Income Tax Act, 1961;
 
 Deferred tax is calculated at the rates and laws that have been enacted
 or substantively enacted as of the Balance Sheet date and is recognized
 on timing differences that originate in one period and are capable of
 reversal in one or more subsequent periods. Deferred tax assets are
 recognised on carry forward of unabsorbed depreciation and tax losses
 only if there is virtual certainty that sufficient future taxable
 income will be available against which such deferred tax asset can be
 realized. Other deferred tax assets are recognized only to the extent
 there is a reasonable certainty of realization in future. The effect on
 deferred tax assets and liabilities of change in tax rates is
 recognized in the Statement of Profit and Loss in the period of
 enactment of the change.
 
 1.16 Earnings Per Share:
 
 Basic earnings per share are calculated by dividing the Net Profit or
 Loss for the period attributable to Equity Shareholders (after
 deducting preference dividends and attributable taxes) by the weighted
 average number of Equity Shares outstanding during the period. Partly
 paid Equity Shares are treated as a fraction of an Equity Share to the
 extent that they are entitled to participate in dividends relative to a
 fully paid equity share during the reporting period. The weighted
 average number of equity shares outstanding during the period is
 adjusted for events such as bonus issue, bonus element in a rights
 issue, share split, and reverse share split (consolidation of shares)
 that have changed the number of Equity Shares outstanding, without a
 corresponding change in resources.
 
 For the purpose of calculating diluted earnings per share, the Net
 Profit or Loss for the period attributable to Equity Shareholders and
 the weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential Equity Shares.
 
 1.17 Provision and Contingent Liabilities:
 
 A provision is recognized when an enterprise has a present obligation
 as a result of past event; it is probable that an outflow of resources
 will be required to settle the obligation, in respect of which a
 reliable estimate can be made. Provisions are not discounted to its
 present value and are determined based on best estimate required to
 settle the obligation at the Balance Sheet date. These are reviewed at
 each Balance Sheet date and adjusted to reflect the current best
 estimates Contingent liabilities are stated separately by way of a
 note.  Contingent Liabilities are disclosed when the Company has a
 possible obligation or a present obligation and it is not probable that
 a cash outflow will be required to settle the obligation.
 
 1.18 Cash and Cash Equivalents:
 
 Cash and cash equivalents for the purposes of cash flow statement
 comprise cash at bank, cash in hand, deposits with banks and other
 short-term investments with an original maturity of three months or
 less.
 
 1.19 Cash Flow Statement:
 
 Cash Flows are reported using the indirect method, whereby net profit
 before tax is adjusted for the effects of transactions of a non-cash
 nature, such as deferrals or accruals of past or future operating cash
 receipts or payments and items of income or expenses associated with
 investing or financing cash flows. The cash nows from operating,
 investing and financing activities of the Company are separately
 mentioned.
 
 The Company has only one class of shares referred to as Equity Shares
 having a par value of Rs. 10 each. Each holder of Equity Share is
 entitled to one vote per share held. The dividend proposed by the Board
 of Directors is subject to the approval of the Shareholders in the
 ensuing Annual General Meeting, except in case of Interim Dividend.
 
 The Board of Directors, in their meeting on 28th May 2012, have
 recommended a final dividend of Rs.4.5 per Equity Share for the financial
 year 2011-12. The payment is subject to approval of shareholders in
 ensuing Annual General Meeting. The total dividend appropriation for
 the year ended 31st March, 2012 amounted to Rs. 2,486.71 lakhs including
 Dividend Distribution Tax of Rs. 259.21 lakhs.
 
 During the year ended 31st March, 2011, the amount of per Share
 dividend recognized as distributions to Equity Shareholders was Rs. 3.60
 of which Rs. 1.80 was towards interim dividend and Rs. 1.80 towards final
 dividend. The total dividend appropriation for the year ended 31st
 March, 2011 amounted to Rs. 1,984.03 lakhs including dividend
 distribution tax of Rs. 202.03 lakhs.
 
 In the event of liquidation of the Company the holders of equity shares
 will be entitled to receive the remaining assets of the company after
 distribution of all preferential amounts. The distribution will be in
 proportion to the number of Equity Shares held by the Shareholders.
 
 The Company has been sanctioned bank overdraft facility, cash credit
 facility and non-fund based facilities (including Letter of credit) by
 Commercial Banks. The Company has pledged fixed deposit of Rs. 4,755.00
 lakhs (PY Rs. 500.00 lakhs) for overdraft facility and Rs. 1,216.50 lakhs
 (PY Rs. 1,243.00 lakhs) for non-fund based facilities, with the banks as
 security In addition cash credit facility and non - fund based
 facilities are further secured by way of equitable mortgage over its
 office premises at Mumbai, hypothecation of book debts and personal
 guarantee of one of the Directors of the Company
 
 The Exceptional item of Rs. 1,160.23 lakhs relates to the proceedings
 under Section 132 of the Income Tax Act, 1961 initiated by the Income
 Tax Authorities in January, 2012. The same arises due to the accounting
 effect (net of expenses) given to the statements made during the course
 of such proceedings, which relate both to the current and the previous
 years. The tax payable on such income resulting there from has been
 provided for in the accounts. The final assessments are in progress.