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Notes to Accounts of Apollo Pipes Ltd.

Mar 31, 2018

1. General Information

Apollo Pipes Limited (formerly known as Amulya Leasing and Finance Limited) incorporated on December 9, 1985 is engaged in the manufacturing and trading of PVC Pipes and Fittings. The Company is a public company listed on Bombay Stock Exchange (BSE).The registered office of the Company is in New Delhi.

2. Summary of Significant Accounting Policies

2.1 Basis of Preparation

“The Financial statements (FS) of the company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and presentation requirements of Division II of Schedule III to the Companies Act, 2013, (Ind AS compliant Schedule III), as applicable to the Financial statements. For all periods up to and including the year ended 31st March 2017, the Company prepared its financial statements in accordance with Indian GAAP, including accounting standards notified under the section 133 of the Companies Act 2013, read together with paragraph 7 of the Companies (Accounts) Rules, 2014. These financial statements for the year ended 31st March 2018 are the first the Company has prepared in accordance with Ind-AS. The Company has consistently applied the accounting policies used in the preparation of its opening IND-AS Balance Sheet at April 1, 2016 throughout all periods presented, as if these policies had always been in effect and are covered by IND AS 101 ‘‘First-time adoption of Indian Accounting Standards’’. The transition was carried out from accounting principles generally accepted in India (‘‘Indian GAAP’’) which is considered as the previous GAAP, as defined in IND AS 101. The reconciliation of effects of the transition from Indian GAAP on the equity as at April 1, 2016 and March 31, 2017 and on the net profit and cash flows for the year ended March 31, 2017 is disclosed in Note No 39 to these financial statements.

2.2 Use of Estimates

The preparation of Financial Statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities as at the date of the Financial Statements and the reported amount of revenues and expenses during the reporting period/year

The difference between the actual results and estimates are recognised in the year in which the results are known/ materialise.

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 schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalent, the Company has ascertained its operating cycle as 12 months for the purpose of current/non-current classification of assets and liabilities

2.3) Critical accounting estimates, assumptions and judgements

In the process of applying the Company’s accounting policies, management has made the following estimates, assumptions and judgements, which have significant effect on the amounts recognised in the financial statement:

(i) Property, plant and equipment

On transition to Ind AS, the Company has adopted optional exemption under IND AS 101 for fair valuation of property plant and equipment. The Company appointed external adviser to assess the fair value, remaining useful lives and residual value of property, plant and equipment. Management believes that the assigned fair value, useful lives and residual value are reasonable.

(ii) Income taxes

Management judgment is required for the calculation of provision for income taxes and deferred tax assets and liabilities. The Company reviews at each balance sheet date the carrying amount of deferred tax assets. The factors used in estimates may differ from actual outcome which could lead to significant adjustment to the amounts reported in the standalone financial statements.

(iii) Contingencies

Management judgement is required for estimating the possible outflow of resources, if any, in respect of contingencies/claim/ litigations against the Company as it is not possible to predict the outcome of pending matters with accuracy.

(iv) Allowance for uncollectable accounts receivable and advances

Trade receivables do not carry any interest and are stated at their normal value as reduced by appropriate allowances for estimated irrecoverable amounts. Individual trade receivables are written off when management deems them not to be collectible. Impairment is made on the expected credit losses, which are the present value of the cash shortfall over the expected life of the financial assets.

Description of Loan

Secured-

(i) Rs. 1234.60 lakh ( As at March 31,2017 Rs. 1338.05 lakh, As at April 01,2016 Rs. 448.31 lakh) secured by from ICICI Bank Ltd, is secured against mortgage of residential property (under construction) from Jaypee Greens, Greater Noida, (U.P.) & from HDFC Bank Ltd., secured against the hypothecation of Exclusive charge on the industrial land and building at Dadri Location Plot (Khasra) No.2928 (JHA) & 2938, Village Dhoom Manikpur, Dadri, Distt. Gautam Budh Nagar, U.P. & personal guarantee of Promoter Directors.

(ii) Rs. 8000.38 lakh ( As at March 31,2017 Rs. 4.11 lakh, As at April 01,2016 Rs. 1296.32 lakh) secured by Housing Development Finance Corporation Limited against Fixed Deposit & other by HDFC Bank Limited and Kotak Mahindra Prime Ltd secured against the hypothecation of Plant & Equipment and Vehicles.

Note: The Working Capital facilities from banks are secured by first pari passu charge on all current assets, movable fixed assets, present and future, of the company. These credit facilities are further collaterly secured by Land & Building situated at Plot (Khasra) No. 2928 (JHA) & 2938, Dhoom Manikpur Dadri and personal guarantee of Promoters Directors.

The company does not have any potential equity shares and thus,weighted average number of shares for computation of basic EPS and diluted EPS remains same.

Note 3: Disclosure in respect of operating leases as per IND AS 17’ Leases’ (A) Operating Leases

(i) The company has entered into long term agreement lease agreement for land. The company does not have an option to purchase the leased land at the expiry of the lease period. The unamortised operating lease prepayments as at March 31, 2018 aggregating Rs. 46.6 Lakh (as at March 31, 2017: Rs. 46.80 Lakh , as at April 1, 2016 : Rs. 47.53 Lakh) is included in other non current / current assets.

(ii) The Company has entered into lease arrangements for lease of offices generally for a period of 11 months with renewal option on mutual consent,and which can be terminated after lock in period by serving notice period as per the terms of the agreements. ( Amount in ‘ Lakh unless otherwise stated)

(B) Finance Leases

The Company has taken certain vehicles and equipments under finance lease. There is an option to purchase the assets at the end of the lease terms. The obligation under finance leases are secured by the leased assets. There are no restrictions such as additional debt and further leasing imposed by the lease agreement.

Interest rates underlying all obligations under finance leases are fixed at respective contract dates ranging from 8.6% to 9.2%

For net carrying amount of assets acquired under finance lease as at March 31,2018: Refer Note 3:Property Plant and Equipment.

Note 4: Payable to MSMED

Based on the details regarding the status of the supplier obtained by the company ,there is no supplier covered under the Micro,Small and Medium Enterprises Development Act, 2006 (the Act).This has been relied upon by the auditors.

Note 5: Segment Information

The Company is engaged in manufacturing and trading of UPVC,CPVC,HDPE Pipes and Fittings. Information is reported to and evaluated regularly by the Coperational Decision Maker (CODM) i.e. Managing Director for the purpose of resouce allocation and assessing performance focuses on the business as whole . The CODM reviews the Company’s performance focuses on the analysis of profit before tax at an overall entity level. Accordingly there is no other seperate reportable segment as defined by Ind As 108 “Operating Segments”.

Note 6: Corporate Social Responsibility

The Corporate Social Responsilbility (CSR) obligation for the year as computed by the Company and relied upon by the auditors is Rs. 37.48 lakh (for the year ended March 31,2017: 19.11 lakh.) CSR amount spent during the year is Rs. 31.00 lakh ( For the year ended March 31,2017: ‘ Nil)

Note 7 Employee Benefits Plan

a. General description of the employee Benefit Plan

The company has an obligation towards gratuity unfunded defined benefit retirement plan covering eligible employees.The plan provides for lump sum payment to vested employees at retirement, death while in employment or on termination of the employment of an amount equivalent to 15 days/ one month salaryas applicable, payable for each completed year of service or part thereof in excess of six months in terms of Gratuity scheme of the company or as per payment of Gratuity Act, whichever is higher. Vesting occurs upon completion of five years of service

b. Plan typically exposes the company to acturial risks such as : investment risks, interest rate risk, longevity risk and salary risk. Investment Risk

The present value of the defined benfit plan liability (denominated in Indian Rupee) is calculated using a discount risk which is determined by reference to market yields at the end of the reportng period on government bonds. Currently, for the plan in India, it has relatively balanced mix of investments in Insurnace related products.

Interest Rate Risk

A decrease in the bond interest rate will increase the plan liability;however, this will be partially offset by an increase in the return on the plan’s debt .

Longevity Risk

The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability.

Salary Risk

The present value of the defined plan liability is calculated by reference to the future salaries of plan participants. As such,an increase in the salary of the plan participants will increase the plan’s liability.

No other post-retirement benefits are provided to the employees.

In respect of the plan in India, the most recent acturial valuation of the plan assets and the present value of the defined benefit of the defined benefit obligation were carried out as at March 31,2018 by an actuary. The present value of the defined benefit obligation were carried out as at March 31,2018 by an actuary. The present value of the defined benefit obligation, and the related current service cost and the past service cost, were measured using the projected unit credit method.

Note 8: Contingent Liabilities

A. Letters of Credit

Outstanding Letters of Credit provided by banks on behalf of the company is Rs. 4,223.50 Lakh ( March 31,2017: Rs. 3084.99 Lakh and April 1,2016: Rs. 1,728.06 Lakh)

B. Claims against the Company, not acknowledged as debts:

Future cash outflows in respect of the above matters are determinable only on receipt of judgements/ decisions pending at various stages/ forums.

Note 9 : Other Matters

(i) Pursuant to the notification issued by UP Shashan Urja Anubhag 3 vide no/ 1765/24-3-2009 dated 21 -Jan-2010 where the electricity department had exempted the payment of electricity duty, the company has applied for a refund of the same amounting to Rs. 246.92 Lakh on 24-February-2018.

(ii) During the year 2017-18 , fire broke out in Dadri (UP) Plant on 27-Nov-2017 resulting in damage of assets amounting Rs. 394.48 lakh .The company has submitted the necessary documents to Surveyor in support of the claim & provisional claim is filed with insurance company.

Level 1 : Quoted prices in the active market. This level of hierarchy includes financial assets that are measured by reference to quoted prices in the active market. This category consists of quoted equity shares and debt based open ended mutual funds.

Level 2 : Valuation techniques with observable inputs. This level of hierarchy includes items measured using inputs other than quoted prices included within Level 1 that are observable for such items, either directly or indirectly. This level of hierarchy consists of debt based close ended mutual fund investments and over the counter (OTC) derivative contracts.

Level 3 : Valuation techniques with unobservable inputs. This level of hierarchy includes items measured using inputs that are not based on observable market data (unobservable inputs). Fair value determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instruments nor based on available market data. The main item in this category are unquoted equity instruments.

The fair value of the financial assets are determined at the amount that would be received to sell an asset in an orderly transaction between market participants. The following methods and assumptions were used to estimate the fair values.

Investments in debt mutual funds: Fair value is determined by reference to quotes from the financial institutions, ie. Net asset value (NAV) for investments in mutual funds declared by mutual fund house.

Quoted equity investments: Fair value is derived from quoted market prices in active markets.

( Amount in Rs. Lakh unless otherwise stated)

Unquoted equity investments: Fair value is derived on the basis of income approach, in this approach the discounted cash flow method is used to capture the present value of the expected future economic benefits to be derived from the ownership of these investments.

Note 10 : Capital and Risk Management

10.1) Credit Risk Management

Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial losses to the company. The company is exposed to credit risk from its operating activities ( primarily trade receivables) and from its financing activities, including deposits with banks, foreign exchange transactions and other financial instruments. The company evaluates the credit worthiness of the customers based on publicly available information and the company’s historical experiences. The company’s exposure to its counterparties are continuously reviewed and monitored by the Chief Operating Decision Maker(CODM).

Credit period varies as per the contractual terms with the customers . No interest is generally charged on overdue receivables.

The company directly reduces the gross carrying amount of a financial asset when the company has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof.

10.2) Interest Rate Risk Management

The Company is exposed to interest rate risk because the Company borrows funds at both fixed and floating interest rates.

10.3) Liquidity Risk Management

Ultimately responsibility for liquidity risk management rests with the Board of Directors, which has established an appropriate liquidity risk management framework for the management of the Company’s short term, medium term and long term funding and liquidity management requirements. The company manages liquidity risk by maintaining adequate reserves,banking facilities and reserve borrowing facilities, by continuously monitoring forecast and cash flows , and by matching the maturity profiles of the financial assets and liabilities.

Note 11 : First time adoption of Ind AS

These are the company’s first financial statements prerpared in accordance with Ind AS.

The Accounting policies set out in note 1 have been applied in preparing the financial statements for the year ended March 31,2018, the comparative information presented in these financial statements for the year ended March 31,2017 and in the preparation of an opening Ind AS balance sheet at April 1,2016 (the Company’s date of transition) .In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts reported previously in financial statements prepared in accordance with the accounting standards notified under Companies (Accounting Standard) Rules,2006 (as amended) and other relevant provisions of the Act (previous GAAP or Indian GAAP). An explanation of how the the transition from previous GAAP to Ind AS has affected the group’s financial position financial performance and cash flows is set out in the following tables and notes.

A) Exceptions applied

Ind AS 101 allows first time adopters certain exceptions from the respective application of certain requirements under Ind AS. The mandatory exceptions include the following:

I. Derecognition of financial assets and financial liabilities

Ind AS 101 requires a first time adopter to apply the de-recognition provisions of Ind AS 109 prospectively for transactions occurring on or after the date of transition to Ind AS. However,Ind AS 101 allows a first time adopter to apply the derecognition requirements in Ind AS 109 retrospectively from a date of the entity’s choosing, provided that the information needed to apply Ind AS 109 to financial assets and financial liabilities derecognised as a result of past transactions was obtained at the time of initially accounting for those transactions.

The Company has elected to apply the de-recognition provisions of Ind AS 109 prospectively from the date of transition to Ind As.

II. Classification and measurement of Financial assets

IND AS 101 requires an entity to assess classification and measurement of financial assets on the basis of the facts and circumstances that exist at the date of transition to Ind AS

Estimates made in accordance with previous GAAP at the date of transition to Ind AS should be considered unless there is objective evidence that those estimates were in error I nd AS estimates as at April 01,2016 are consistent with the estimates as at the same date made in conformity with previous GAAP. The company made estimates for Investment in equity instruments carried at FVOCI in accordance with Ind AS as at the date of transition as these were not required under previous GAAP.

Consequentlythe company has applied the above requirement prospectively.

B) The Company has applied the following optional exemptions:

I. Deemed Cost

Ind AS 101 permits a first time adopter to elect to continue with the carrying value for all its propertyplant and equipment as recognised in the financial statements as at the date of transition to Ind AS,measured as per the previous GAAP and use that as its deemed cost as at the date of transition after making necessary adjustments for de-commisioning liabilities.This exemption can also be used for intangible assets covered by Ind AS 38 Intangible Assets and investment property covered by Ind AS 40 Investment Properties.

Accordingly ,the company has elected to measure all of its property, plany and equipment, intangible assets and investment property at their previous GAAP carrying value.

II. Leases

Ind AS 17 requires an entity to assess whether a contract or arrangement contains a lease. In accordance with Ind AS

17,this assessment should be carried out at the inception of the contract or arrangement. ind AS 101 provides an option to make this assessment on the basis of facts and circumstances existing at the date of transition to Ind AS,except where the effect is expected to be not material.

III. Designation of previously recognised financial instruments

I nd AS 101 allows an entity to designate investments in equity instruments at FVOCI on the basis of the facts and circumstances at the date of transition to Ind AS.

The company has elected to apply this exemption for its investment in equity instruments.

C) Reconciliations from previous GAAP

The following reconciliations provide a quanitification of the effect of differences arising from the transition from previous GAAP to Ind AS in accordance with Ind AS 101 whereas the notes explain the significant differences thereto.

(i) Balance sheet reconciliations as of April 1 , 2016

(ii) Balance sheet reconciliations as of March 31,2017.

(iii) Reconciliations of statement of profit and loss for the year ended March 31,2017

(iv) Reconciliations of Profit and Other Equity between IND AS and Previos GAAP

(v) Explanation of material adjustments to statement of cash flows

(v) Explanation of material adjustments to Statement of Cash Flows

There were no material differences between the statements of cash flows presented under Ind AS and the previous GAAP. These are the notes to accounts to the financial statements.


Mar 31, 2016

NOTE 1

A) Contingent Liabilities:

a) Claims against the company not acknowledged as debts- Nil; Previous Year- Nil

b) Guarantees to Banks and Financial institutions against credit facilities extended to third parties- Nil; Previous Year-Nil

c) Other money for which the company is contingently liable- Nil; Previous Year- Nil

B) Commitments:

i) Uncalled liability on partly paid up shares- Nil; Previous Year- Nil

ii) Estimated amount of contracts remaining to be executed on capital accounts- NIL; Previous Year- Nil

iii) Other Commitments- Nil; Previous Year- Nil

2. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

3. In the opinion of Board of directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. Related Party Disclosure: As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Company’s related parties and transactions are disclosed below:

A. Name of related parties and description of relationship:

5) Associates :

APL INFRASTRUCTURE PVT. LTD.

6) Key Management Personnel :

Mr. Sameer Gupta - Director Mrs. Meenakshi Gupta- Director

7) Relatives of Key Management Personnel

Mrs. Saroj Rani Gupta- Mother of Sh. Sameer Gupta

8) Subsidiary Company :

Apollo Pipes Ltd

B. Transaction during the year and balances outstanding at the yearend in respect of transactions entered into during the year with the related parties.

9. As per information available with the company, no amount is due to any undertaking/Enterprise covered under the Micro, Small and Medium Enterprise Development Act, 2006.

10. Since the Company is dealing in one segment, No separate Segment reporting is given.

11. The figures of the previous years have been regrouped and rearranged wherever it considered necessary.


Mar 31, 2015

1. A) Contingent Liabilities:

a) Claims against the company not acknowledged as debts Nil Previous Year Nil

b) Guarantees to Banks and Financial institutions against credit facilities extended to third parties Nil Previous Year Nil

c) Other money for which the company is contingently liable Nil Previous Year Nil

B) Commitments :

i) Uncalled liability on partly paid up shares- Nil Previous Year (Nil)

ii) Estimated amount of contracts remaining to be executed on capital accounts- NIL. Previous Year (Nil)

iii) Other Commitments Nil Previous Year Nil

2. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

3. In the opinion of Board of directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. During the financial year 2014-15 the company has made an investment of Rs 99052013/- in Apollo Pipes Ltd for acquiring 1165000 equity shares of Rs 10/- each (fully paid up) i.e 50.96% of equity share capital and as a result Apollo Pipes Ltd becomes a subsidiary of the company w.e.f 14th November, 2014.

5. CIF value of Imports - NIL Previous Year (NIL)

6. Earning & Expenditure in Foreign Currency: NIL Previous Year (NIL) 2014-15 2013-14

7. Payments to Auditor's : Rs 28090/- Rs. 28090/-

8. Director's remuneration: NIL Rs. NIL

9. AS per Accounting Standard (AS-20) on Earning per share (EPS) issued by the ICAI, the particulars of EPS for the equity shareholders are as below:

S. Particulars Current year 2015 Previous Year 2014 No.

1 Net Profit (loss) as 2129795.62 3640161.25 per P/L A/c

2 Average No. of 5001700 5001700 equity shares used as denominator for calculating EPS

3 EPS (Basic & Diluted) 0.43 0.73 (Rs.)

4 Face value of each 10 10 equity share (Rs.)

10. Related Party Disclosure: As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Company's related parties and transactions are disclosed below:

A. Name of related parties and description of relationship:

1) Managerial Personnel

Mr. Sameer Gupta

Mrs. Meenakshi Gupta

Mr. Vikas Goel

2) Other related parties where the directors/ relatives have significant influence

APL INFRASTRUCTURE PVT. LTD.

3) Subsidiary Company

Apollo Pipes Ltd

B. Transaction during the year and balances outstanding at the year end in respect of transactions entered into during the year with the related parties.

Nature of Transaction Transaction Value Outstanding amount carried in Balance Sheet

Loan taken 23800000.00 Nil APL INFRASTRUCTURE PVT. (NIL) (NIL) LTD.

Loan Taken 2739242.00 2739242.00 SAMEER GUPTA (NIL)

Loan given NIL NIL APL INFRASTRUCTURE PVT. (3000000.00) (52512445.00) LTD.

Interest received 1578215.00 Nil APL INFRASTRUCTURE PVT. (3799137) (52512445.00) LTD

Purchase of Shares (Apollo 65757000.00 Nil Pipes Ltd) (NIL) (NIL) APL INFRASTRUCTURE PVT. LTD

( ) indicates figures of previous year

11. As per information available with the company, no amount is due to any undertaking/Enterprise covered under the Micro, Small and Medium Enterprise Development Act, 2006.

12. Since the Company is dealing in one segment, No separate Segment reporting is given.

13. The figures of the previous years have been regrouped and rearranged wherever it considered necessary.


Mar 31, 2014

NOTE: 1

1. A) Contingent Liabilities:

a) Claims against the company not acknowledged as debts Nil Previous Year Nil

b) Guarantees to Banks and Financial institutions against credit facilities extended to third parties Nil Previous Year Nil

c) Other money for which the company is contingently liable Nil Previous Year Nil

B) Commitments :

i) Uncalled liability on partly paid up shares- Nil Previous Year (Nil)

ii) Estimated amount of contracts remaining to be executed on capital accounts- NIL.

Previous Year (Nil) iii) Other Commitments Nil Previous Year Nil

2. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

3. In the opinion of Board of directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. None of the employees was in receipt of annual remuneration as prescribed under the provision of section 217(2A) of the Companies Act, 1956.

5. CIF value of Imports – NIL Previous Year (NIL)

6. Earning & Expenditure in Foreign Currency: NIL Previous Year (NIL)

7. Payments to Auditor''s : Rs 28090/- Rs. 28090/- 8. Director''s remuneration: NIL Rs. NIL

8. Related Party Disclosure: As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Company''s related parties and transactions are disclosed below:

A. Name of related parties and description of relationship:

1) Managerial Personnel Mr. Sameer Gupta Mrs. Meenakshi Gupta Mr. Vikas Goel

2) Other related parties where the directors/ relatives have significant influence

11. As per information available with the company, no amount is due to any undertaking/Enterprise covered under the Micro, Small and Medium Enterprise Development Act, 2006.

12. Since the Company is dealing in one segment, No separate Segment reporting is given.

13. The figures of the previous years have been regrouped and rearranged wherever it considered necessary.

Note

1. As defined in paragraph 2(1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2. Provisioning norms shall be applicable as prescribed in Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007

3. All Accounting Standards and guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets required in satisfaction of debt. However, market value in respect of quoated investments and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

Note:

1. Please complete the Folio/ DP ID-Client ID No. and name, sign this attendance Slip and hand it over at the Attendance Verification Counter at the entrance of the meeting hall.

2. Electronic copy of the Annual Report for 2013-2014 and Notice of the Annual General Meeting (AGM) along with Attendance Slip and Proxy Form is being sent to all the members whose email address is registered with the Company/Depository participant unless any member has requested for a hard copy of the same. Members receiving electronic copy and attending the AGM can print copy of this Attendance Slip.

3. Physical copy of the Annual Report for 2013-2014 and the Notice of the Annual General Meeting along with Attendance Slip and Proxy form is sent in the permitted mode(s) to all members whose email is not registered or have requested for a hard copy.

Important Communication to Shareholders

Green Initiative

The Ministry of Corporate Affairs has taken a "Green Initiative in the Corporate Governance" by allowing paperless compliances by the companies and has issued circulars stating that service of notice/documents including Annual Report can be sent by e-mail to its members. To support this green initiative of the Government in full measure, members who have not registered their e-mail addresses, so far, are requested to register their e-mail addresses, in respect of electronic holdings with the Depository through their concerned Depository Participants. Members who hold shares in physical form are requested to send e-mail at [email protected] to update their e-mail address.

Demat Your Shares

Members are requested to convert their physical holding to demat form through any of the nearest depository participant (DPs) to avoid hassles involved with physical shares such as possibility of loss, mutilation, and to ensure safe and speedy transaction in securities.

Register Your National Electronic Clearing Services (NECS) Mandate

RBI has initiated NECS for credit of Dividend directly to the Bank Account of shareholders. Members holding shares in electronic mode are requested to register their latest Bank Account details (Core Banking Solutions enabled account number, 9 digit MICR and 11 digit IFS Code details) with their Depository Participant. Members holding shares in physical form are requested to register their latest Bank Account details (Core Banking Solutions enabled account number, 9 digit MICR and 11 digit IFS Code details) to the Company''s R & T Agent.


Mar 31, 2013

1. A) Contingent Liabilities:

a) Claims against the company not acknowledged as debts- Nil (Previous Year Nil)

b) Guarantees to Banks and Financial institutions against credit facilities extended to third parties- Nil (Previous Year Nil)

c) Other money for which the company is contingently liable- Nil (Previous Year Nil)

B) Commitments:

i) Uncalled liability on partly paid up shares-Nil (Previous Year Nil)

ii) Estimated amount of contracts remaining to be executed on capital accounts- NIL (PreviousYear Nil)

iii) Other Commitments- Nil (PreviousYear Nil)

2. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

3. In the opinion of Board of directors,Current Assets,Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. None of the employees was in receipt of annual remuneration as prescribed under the provision of section 217(2 A) of the Companies Act,1956.

5. Related Party Disclosure: As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Company''s related parties and transactions are disclosed below:

A. Name of related parties and description of relationship:

1) Managerial Personnel

Mr.Sameer Gupta

Mrs. Meenakshi Gupta

2) Other related parties where the directors/relatives have signficant in fluence APLINFRASTRUCTUREPVT. LTD.

B. Transaction during the year and balances outstanding at the year end in respect of transactions entered into during the year with the related parties.

6. As per information available with the company no amount is due to any undertaking/Enterprise covered under the Micro,Small and Medium Enterprise Development Act,2006.

7. Since the Company is dealing in one segment,No separate Segment reporting is given.

8. The figures of the previous years have been regrouped and rearranged wherever it considered necessary.

Notes:

1. As defined in paragraph 2(1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions,1998.

2. Provisioning norms shall be applicable as prescribed in Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007

3. All Accounting standards and guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets required in satisfaction of debt However, market value in respect of quoted investments and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4)above.


Mar 31, 2012

1. A) Contingent Liabilities:

a) Claims against the company not acknowledged as debts Nil Previous Year Nil

b) Guarantees to Banks and Financial institutions against credit facilities extended to third parties Nil Previous Year Nil

c) Other money for which the company is contingently liable Nil Previous Year Nil B) Commitments:

i) Uncalled liability on partly paid up shares- Nil Previous Year (Nil)

ii) Estimated amount of contracts remaining to be executed on capital accounts- NIL.

Previous Year (Nil)

iii) Other Commitments Nil Previous Year Nil

2. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

3. In the opinion of Board of directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. None of the employees was in receipt of annual remuneration as prescribed under the provision of section 217(2A) of the Companies Act, 1956.

5. CIF value of Imports NIL Previous Year (NIL)

6. Earning & Expenditure in Foreign Currency: NIL Previous Year (NIL)

7. Director's remuneration: NIL Rs.NIL

8. Related Party Disclosure: As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Company's related parties and transactions are disclosed below:

A. Name of related parties and description of relationship:

1) Managerial Personnel

Mr. Sameer Gupta

Mrs. Meenakshi Gupta

Mr. Vikas Goel

2) Other related parties where the directors/ relatives have significant influence APL INFRASTRUCTURE PVT. LTD.

9. As per information available with the company, no amount is due to any Undertaking/Enterprise covered under the Micro, Small and Medium Enterprise Development Act, 2006.

10. Since the Company is dealing in one segment, No separate Segment reporting is given.

11. The figures of the previous years have been regrouped and rearranged wherever it considered necessary.


Mar 31, 2010

1. Contingent Liability:

a) Unpaid liability on partly paid up shares- Nil (Nil)

b) Estimated amount of contract remaining to be executed on capital accounts- NIL. (Nil)

2. Claim against the company not acknowledged as debts- NIL (Nil)

3. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

4. In the opinion of Board of directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

5. None of the employees was in receipt of annual remuneration as prescribed under the provision of section 217(2A) of the Companies Act, 1956.

6. CIF value of Imports: NIL (Nil)

7. Earning & Expenditure in Foreign Currency: NIL (Nil)

8. The activities of the company do not involve conservation of energy or absorption of technology.

9. The figures of the previous years have been regrouped and rearranged wherever it considered necessary.

10. Payments to Auditors : Rs 55150/- (Rs. 19854/-)

11. Directors remuneration: NIL (Rs. 240000/-)

12. Amount due to / from the parties are subject to confirmation.

13. Loans given by the company are unsecured and are on personal guarantees.

14. Company is dealing in shares. So the closing stock of shares has been shown as Stock-in-Trade but some shares purchased during the year by the company for earning income by way of dividends and for long term purposes being strategic investments have been classified under investments.

15. Provisions:

Provisions are recognized where the company has present legal or constructive obligation, as a result of past event, for which it is probable that an outflow of economic benefits will be required to settle the obligation and the reliable estimate can be made for the amount of the obligation.

16. Impairment of Assets:

The carrying amounts of assets are reviewed at the balance sheet date to determine whether there are any indications of impairment. If the carrying amount of the fixed assets exceeds the recoverable amount at the reporting, the carrying amount is reduced to the recoverable amount. The recoverable amount is the greater of the assets net selling price and value in use, the value in use determined by the present value estimated future cash flows. Here carrying amounts of fixed assets are equal to recoverable amounts.

17. Related Party Disclosure:

As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Companys related parties and transactions are disclosed below:

(A) Name of related parties and description of relationship:

1. Key Management Personnel

Mr. Vikas Goel

Mr. Pradeep Kumar Goel

2. Enterprise over which any person describe in (A) (1) above is able to exercise significant influence

1) A.V.G. Enterprises Pvt. Ltd.

2) Ashu Securities Pvt. Ltd.

3) Shri Trinkeshwar Developers & Builders Pvt. Ltd.

18. As per information available with the company, no amount is due to any Undertaking/ Enterprise covered under the Micro, Small and Medium Enterprise Development Act, 2006.

19. Since the Company is dealing in one segment, No separate Segment reporting is given.

20. The figure in the brackets pertains to the previous year.

21. Quantitative Information regarding Opening Stock, Purchase, Sale and Closing Stock of Shares.


Mar 31, 2009

1. figures of the previous year have been re-grouped and recasted where ever necessary to make litem comparable with the current year figures.

2. Loans given by the company tire unsecured and are on personal guarantees.

3. Cash in Hand has been certified by the Management as on 31 March 2009.

4. Balances in Sundry Debtors. Sundry Creditors. Loans &. Advance are Subject to Confirmation.

5. Provision for the tax for Rs. Nil has been worked out on the Basis of taxable Income as per income Tax Act 1961

6. Stock in trade (Shares) have been Valued at cost.

7. Fixed Assets are capitalized at cost inclusive of legal and other installation expenses.

8. The Depreciation on Fixed Assets has been charged as per Schedule — XIV of the Companies Act 1956 on Straight Line Method.

9. Assets are classified into performing and non- performing- based on their records of recovery/ adjustments effected. Income from non-performing Assets is recognized on realization basis.

10. The company following mercantile system of Accounting and Recognize items of income as well as expenses on the accrual Basis except in the eases of non performing Assets on which Income is recognized on realization basis.

11. Schedule I to 10 form integral pan of the Balance Sheet and have been duly authenticated.

12. Managerial Remuneration to Managing Director arid whole time director under the Companies Act is given below.

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