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Directors Report of Shriniwas Power & Infrastructure Ltd.

Mar 31, 2011

To the members of CONCURRENT (INDIA) INFRASTRUCTURE LIMITED,

The Directors take pleasure in presenting the 17th Annual Report together with Audited accounts for the financial year ended 31st March 2011. The report covers all major events till the date of report. FINANCIAL HIGHLIGHTS 2010-11 (Rs in Lakhs)

FINANCIAL HIGHLIGHTS 2010-11 2009-10

Income 14214.62 6505.74

Profit before Depreciation and Interest 1609.66 504.27

Depreciation 4.40 6.36

Interest 54.10 0.56

Profit after Depreciation and Interest 1551.15 497.35

Provision for tax - 54.31

Profit after tax 1551.15 443.04

Balance Brought Forward 532.57 89.53

Balance carried to Balance Sheet 2083.72 532.57

FINANCIAL HIGHLIGHTS

During the year Company has achieved a total income of Rs. 14214.62 Lakh as compared to Rs. 6505.74 Lakhs in the previous year and thereby registered an increase of 118.49% over the previous year. Out of the total income of Rs. 14214.62 Lakhs Rs. 12472 Lakhs is from the Infrastructure activities. The Company has posted a PBT of Rs. 1551.15 Lakhs as compared to Rs. 497.35 Lakhs in the previous year .

DIVIDEND

Your Directors have decided to plough back the profits and therefore no Dividend is declared.

CHANGE IN CAPITAL

The authorised capital of the company stood at Rs. 45,16,00,000/- (Rupees Forty Five Crores Sixteen Lakhs only) divided into 4,51,60,000 (Four Crore Fifty One Lakhs Sixty Thousand Only) equity shares of Rs. 10/- (Rupees Ten each) as on date. The paid up share capital as on the date of this report stood at Rs. 430,599,990/- (Rupees Forty Three Crores Five Lakhs Ninety Nine Thousand and Ninety Nine Only)

DIRECTORS

The Board of Directors of the company currently consists of 5 directors.

Name of Director Designation

Sudhir Babu Koneru Managing Director

K Poornachandra Rao Director

G Sateeshkumar Director

Manoj Kokane Additional Director

Neeraj Nagar Additional Director

FIXED DEPOSITS

Your company has not accepted any deposits within the meaning of Section 58A of the Companies Act, 1956.

100% SUBSIDIARY COMPANY

Your company has acquired Vakratund Ispat Pvt Ltd. in this year. Vakratund Ispat Pvt Ltd. is 100% subsidiary of your company. The financial results of the subsidiary are consolidated with your company.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to provisions of Section 217(2AA) of the Companies Act, 1956, the directors confirm that:

(i) In the preparation of the accounts for the financial year ended 31st March 2011 the applicable accounting standards have been followed, along with proper explanation relating to all material departures;

(ii) They have, in the selection of the accounting policies, consulted the statutory auditors and have applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for that period under review.

(iii) They have taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) The Directors have prepared the accounts for the financial year ended 31st March, 2011 on a going concern basis.

AUDITORS

M/s Hanumantha Rao & Co., Chartered Accountants, Hyderabad were appointed as auditors at the Annual General Meeting held on 30th August, 2010. However, he resigned on 22nd December, 2010 and M/s B R R & Associates, Chartered Accountants were appointed at the Extra-ordinary General Meeting held on 24th December, 2010.

M/s B R R & Associates, Chartered Accountants will retire at the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. The retiring auditors have expressed their willingness to continue as Statutory Auditors of the Company.

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION

Your Company's operation does not involve large scale use of energy. The disclosure of particulars under this head is not applicable as your Company operates in the Service Sector. Although your Company is not a large scale energy user, acknowledges, the concept of conventional energy.

CORPORATE GOVERNANCE

A separate report on Corporate Governance has been provided as part of this annual report.

MANAGEMENT DISCUSSION AND ANALYSIS

A detailed review on operational highlights and achievements, vision and strategy for the future notes and outlook for the industry segment in which we operate, are given separately under the head "Management Discussion and Analysis" elsewhere as part of this annual report.

MANAGEMENT'S REPLY TO AUDITOR'S QUALIFICATIONS

1. Mr Sudhir Babu Koneru, Managing Director of the company and Mr K Poornachandra Rao, Chairman of the company are also directors in Concurrent Infrastructure Pvt Ltd. (CIPL), which was merged in Concurrent India Infrastructure Ltd. (CIIL). The petition for condo nation of delay in filing the order of merger of CIPL with CIIL was allowed by the High Court and the matter is pending in the ROC, Mumbai. The directors are pursuing the matter with ROC in right earnest.

2. The company is taking steps to regularize the payments of overdue interest and installments due to financial institutions or banks.

3. The company has taken steps to appoint independent directors and would reconstitute the composition of board, audit committee, remuneration committee and investors committee as per the requirements of the listing agreement with the Bombay Stock Exchange in the immediate future.

PARTICULARS OF EMPLOYEE

During the year under review, no employee of the Company was in receipt of remuneration exceeding the sum prescribed under section 217(2A) of the Companies Act 1956, read with the Companies (particulars of employees) Rules 1975.

FOREIGN EXCHANGE

During the year, the Company has not entered into any Foreign Currency Transactions.

LISTING OF SHARES

Equity shares of your company are listed on Bombay Stock Exchange and the company has paid necessary listing fees for the year 2011-12 in time.

ACKNOWLEDGEMENTS

Your directors take this opportunity to express their gratitude to the investors, banks and financial institutions, customers, suppliers and employees of the company for their valuable and continued support.

REGISTERED OFFICE

OFFICE NO. 218, BIG SPLASH, PLOT NO. 78 & 79, SECTOR -17, VASHI, NAVI MUMBAI - 400 703 MAHARASHTRA, INDIA.

BY ORDER OF THE BOARD OF DIRECTORS

K.Sudhir Babu K. P Rao

Managing Director Director

DATED: 7th December, 2011


Mar 31, 2010

The Directors take pleasure in presenting the 16th Annual Report together with Audited accounts for the financial year ended 31st March 2010. The report covers all major events till the date of report.

Financial Results (Rs. In Lacs)

Particulars Year ended 31/03/2010 Year ended 31/03/2009

Income 6505.74 5939.99

Profit / (loss) before Dep. & Int. 503.71 59.98

Depreciation 6.36 0.68

Interest - 36.14

Profit after Depreciation & Interest 497.35 23.16

Provision for Tax 55.75 7.52

Provision for Tax (FBT) - 1.83

Deferred Tax (1.44) (0.15)

Profit after Tax 443.04 13.96

Balance brought forward 89.53 75.57

Balance carried to Balance Sheet 532.57 89.53

FINANCIAL HIGHLIGHTS

During the year Company has achieved a total income of Rs. 6505.74 Lacs as compared to Rs. 5939.99 Lacs in the previous year and thereby registered an increase of 9.52% over the previous year. Out of the total income of Rs. 6505.74 Lacs Rs. 5568.66 Lacs is from the Infrastructure activities. The Company has posted a PBT of Rs. 497.35 Lacs as compared to Rs. 23.16 Lacs in the prevoius year.

DIVIDEND

Your Directors have decided to plough back the profits and therefore no Dividend is declared.

CHANGE IN CAPITAL

The authorised capital of the company stood at Rs. 450,000,000/- (Rupees Forty Five Crores only) divided into 4,50,00,000 (Four Crore Fifty Lakh Only) equity shares of Rs. 10/- (Rupees Ten Only) each as on date. And there was no change in the Authorised capital of the company during the year. The paid up share capital as on the date of this report stood at Rs. 430,599,990/- (Rupees Forty Three Crores Five Lakh Ninety Nine Thousand and Ninety Nine Only)

DIRECTORS

Name of Dircetor Designation

Sudhir Babu Koneru Managing Director & CEO

K. P.Rao Director

G.Sateesh Wholetime Director

R.B. Rao Additional Director

Dr. M.V. Prasad Additional Director

A Shivram Prasad Additional Director

FIXED DEPOSITS

Your company has not accepted any deposits within the meaning of Section 58A of The Companies Act, 1956.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956, the directors confirm that:

(i) in the preparation of the accounts for the financial year ended 31st March 2010 the applicable accounting standards have been followed, along with proper explanation relating to all material departures;

(ii) they have, in the selection of the accounting policies, consulted the statutory auditors and have applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for that period under review.

(iii) they have taken proper and sufficient care to the best of their knowledge and ability for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

(iv) the Directors have prepared the accounts for the financial year ended 31st March, 2010 on a going concern.

AUDITORS

* The annual accounts of the Company for the year under report have been audited by M/s Hanumantha Rao & Co., Chartered Accountants, Hyderabad appointed at the Annual General Meeting. They will retire at the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. The retiring auditors have expressed their willingness to continue as Statutory Auditors of the Company

CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION

Your Companys operations does not involve large scale use of energy. The disclosure of particulars under this head is not applicable as your Company operates in the Service Sector. Although your Company is not a large scale energy user,

acknowledges, the concept of conventional energy.

CORPORATE GOVERNANCE

A separate report on Corporate Governance has been provided as a part of this annual report.

MANAGEMENT DISCUSSION AND ANALYSIS

A detailed review of operational highlights and achievements, vision and strategy for the future notes and outlook for the industry segment in which we operate, are given seperately under the head "Management Discussion and Analysis" elsewhere as a part of this annual report.

PARTICULARS OF EMPLOYEE

During the year under review, no employee of the Company was in receipt of remuneration exceeding the sum prescribed under section 217(2A) of the Companies Act 1956, read with the Companies (particulars of employees) Rules 1975. Thus furnishing of particulars under the Companies (particulars of employees) Rules 1975 are not applicable.

FOREIGN EXCHANGE

During the year, the Company has not entered into any Foreign Currency Transactions.

LISTING OF SHARES

Equity shares of your company are listed on Bombay Stock Exchange and the company has paid necessary listing fees for the year 2009-2010 in time.

ACKNOWLEDGEMENTS

Your directors take this oppurtunity to express their gratitude to the investors, banks and financial institutions, customers, suppliers and employees of the company for their valuable and continued support.

REGISTERED OFFICE BY ORDER OF THE BOARD OF DIRECTORS

OFFICE NO. 218, BIG SPLASH,

PLOT NO. 78 & 79, SECTOR -17,

VASHI, NAVI MUMBAI - 400 703

MAHARASHTRA, INDIA. Sd/-

K. Sudhir Babu

DATED : 3rd August, 2010 Managing Director & CEO

 
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