Mar 31, 2015
A. Company Information
VKS Projects Limited (referred to as "Company") is an Engineering
Procurement and Construction Company (EPC Contractor) engaged in the
business of undertaking EPC Contracts of CS/SS/Alloy Steel, Turnkey
Piping, Civil Land Development, Industrial/Commercial Infra Projects,
Structural Fabrication and Erection of Equipments, Fire Fighting
Projects and Commissioning of Chemical Plants for various industries.
i) In the opinion of the management, current assets, loans and advances
and other receivables have realizable value of at least the amounts at
which they are stated in the accounts.
ii) Balances shown under Secured & Unsecured Loans, Sundry Creditors,
Advance from Customers, Other Liabilities & Payables, Advance for
Property and Services, Advance to Suppliers, Trade Receivables, Loans
and Advances (Assets), Sundry Deposits and Other Current Assets are
subject to confirmations, reconciliation and consequential adjustments,
if any thereon.
iii) The company being listed company required to follow section 203 &
134 (1), However, the view of absence of appropriate candidate for
filing vacancy of Company Secretary and CFO have not appointed. The
said Key Managerial Personnel as per section 203 and to the extent
134(1) Signing of financial statement have been considered only by
director. However, the management has considered the matter in the
process of appointing Company Secretary and CFO.
iv) It is informed to us that the Company does not have any pending
litigations / disputed matters as at March 31, 2015 including Income
Tax, Sales Tax and Other Taxes which will impact the financial position
except the matters which is reported in CARO Audit Report and Annexure
"A" of Main Audit Report.
v) Management has sought information from various suppliers in case if
they are registered under MSMED Act, 2006. However no information has
been received from suppliers regarding their status under the said Act
and hence disclosure, if any, relating to amounts unpaid as at the
yearend together with interest paid/payable as required under the said
act have not been furnished.
vi) As per Accounting Standard (AS) 17 on "Segment Reporting", Segment
information has not been provided as the Company has only one
reportable segment.
vii) Earnings per Share:
Earnings per share is calculated by dividing the profit/(loss)
attributable to the equity shareholders by the weighted average number
of equity shares outstanding during the year. The number used in
calculating the basic and diluted earnings per share are stated below:
viii) These financial statements have been prepared in the format
prescribed by the Revised Schedule VI to the Companies Act. Previous
year figures have been restated to conform to the classification of the
current year.
Mar 31, 2014
1. Company Information
VKS Projects Limited (referred to as "Company") is an Engineering
Procurement and Construction Company (EPC Contractor) engaged in the
business of undertaking EPC Contracts of CS/SS/Alloy Steel, Turnkey
Piping, Civil Land Development, Industrial/Commercial Infra Projects,
Structural Fabrication and Erection of Equipments, Fire Fighting
Projects and Commissioning of Chemical Plants for various industries.
2. i) In the opinion of the management, current assets, loans and
advances and other receivables have realizable value of at least the
amounts at which they are stated in the accounts.
ii) Balances shown under Secured & Unsecured Loans, Sundry Creditors,
Advance from Customers, Other Liabilities & Payables, Advance for
Property and Services, Advance to Suppliers, Trade Receivables, Loans
and Advances (Assets), Sundry Deposits and Other Current Assets are
subject to confirmations, reconciliation and consequential adjustments,
if any thereon.
i) Management has sought information from various suppliers in case if
they are registered under MSMED Act, 2006. However no information has
been received from suppliers regarding their status under the said Act
and hence disclosure, if any, relating to amounts unpaid as at the
yearend together with interest paid/payable as required under the said
act have not been furnished.
iii) As per Accounting Standard (AS) 17 on "Segment Reporting", Segment
information has not been provided as the Company has only one
reportable segment.
These financial statements have been prepared in the format
prescribed by the Revised Schedule VI to the Companies Act. Previous
year figures have been restated to conform to the classification of the
current year.
3. Contingent liabilities
As at 31 March 2014 As at 31 March 2013
Particu|ars Amount Amount
( Rs. in Lakhs ) ( Rs. in Lakhs )
(i) Contingent Liabilities
(a) Claims against the
company not acknowledged
as debt - -
(b) Guarantees - 190.00
(c) Other money for which
the company is contingently
liable - -
Mar 31, 2013
Note 1. Company information
VKS Projects Limited (referred to as "Company") is an Engineering
Procurement and Construction Company (EPC Contractor) engaged in the
business of undertaking EPC Contracts of CS/SS/Alloy Steel, Turnkey
Piping, Civil Land Development, Industrial/Commercial Infra Projects,
Structural Fabrication and Erection of Equipments, Fire Fighting
Projects and Commissioning of Chemical Plants for various industries.
2 In the opinion of the management, current assets, loans and advances
have realizable value of at least the amounts at which they are stated
in the accounts.
3 Balances of trade receivables, loans and advances, sundry deposits
and current liabilities are subject to confirmations, reconciliation
and consequential adjustments, if any thereon.
4 The company has taken 4 premises on Operating Lease. All of those
are short term leases with none going beyond March 31, 2015. The
agreements are renewable. Non- cancellable operating lease rents
payable (minimum lease payments) under these leases are as follows:
5 Management has sought information from various suppliers in case if
they are registered under MSMED Act, 2006. However no information has
been received from suppliers regarding their status under the said Act
and hence disclosure, if any, relating to amounts unpaid as at the
yearend together with interest paid/payable as required under the said
act have not been furnished.
6 As per Accounting Standard (AS) 17 on "Segment Reporting",
Segment information has not been provided as the Company has only one
reportable segment.
7 Earnings per Share:
Earnings per share is calculated by dividing the profit/(loss)
attributable to the equity shareholders by the weighted average number
of equity shares outstanding during the year. The number used in
calculating the basic and diluted earnings per share are stated below:
8 Related party transactions:
A) Related parties and their relationship
Key Management Personnel:
i) Mr. V. K. Sukumaran (Promoters and directors of the company)
ii) Mrs. Sarita Sukumaran (Promoters and directors of the company.
She ceased to be a Director effective January 10, 2013)
iii) Mr. C. D. Nathan (Appointed as a Whole-Time Director effective
January 10, 2013.
Others:
Enterprises over which Key Management Personnel are able to exercise
significant influence/controls
a. VKS Healthcare Pvt. Ltd.
b. VKS Edserve Pvt. Ltd.
9 These financial statements have been prepared in the format
prescribed by the Revised Schedule VI to the Companies Act. Previous
year figures have been restated to conform to the classification of the
current year.
Mar 31, 2012
A. Company information
VKS Projects Limited (referred to as "Company") is an Engineering
Procurement and Construction Company (EPC Contractor) engaged in the
business of undertaking EPC Contracts of CS/SS/Alloy Steel, Turnkey
Piping, Civil Land Development, Industrial/Commercial Infra Projects,
Structural Fabrication and Erection of Equipments, Fire Fighting
Projects and Commissioning of Chemical Plants for various industries.
1.1 There are no calls remaining unpaid as on March 31, 2012, hence no
disclosure is required pursuant to Note no. 6(A)(k) of Part I of
Schedule VI to the Companies Act, 1956.
1.2 Terms/rights atatched to Equity Shares
The Company has only one class of euity shares having a par value of
Rs. 10/- per share. Each holder of equity share is entitled to one vote
per share.
Note : 2.1 Contribution made to schemes, such as Provident Fund is
charged to the Profit and Loss Account, in the year for which such
contributions are due. Gratuity is accounted based on actuarial
valuation at the end of financial year.
3 Contingent liabilities and As at 31 March As at 31 March
commitments 2012 2011
Rs. Rs.
Contingent Liabilities
Guarantees 19,000,000 20,000,000
Total 19,000,000 20,000,000
4 In the opinion of the management, current assets, loans and advances
have realizable value of at least the amounts at which they are stated
in the accounts.
5 Balances of trade receivables, loans and advances, sundry deposits
and current liabilities are subject to confirmations, reconciliation
and consequential adjustments, if any thereon.
6 In view of multiplicity and difficulty in identification of accounts
to Micro, Small and Medium Enterprises, information with regard to
amount unpaid at the year end together with the interest paid/payable
under the MSMED Act, 2006 as required under to the Companies Act, 1956
is not disclosed.
7 As per Accounting Standard (AS) 17 on " Segment Reporting",
Segment information has not been provided as the Company has only one
reportable segment.
8 Related party transactions:
A) Related parties and their relationship
Key Management Personnel:
Mr. V. K. Sukumaran & Mrs. Sarita Sukumaran, - Promoters and directors
of the Company.
Others:
Enterprises over which Key Management personnel are able to exercise
significant influence:
i) VKS Infraprojects Pvt. Ltd. and(ceased to be an associates in
2010-11)
ii) Chaitanya Contractors & Engineers Pvt. Ltd. (ceased to be an
associates in 2010-11)
iii) Telecon Engineering Pvt. Ltd. (ceased to be an associates in
2010-11)
9 These financial statements have been prepared in the format
prescribed by the Revised Schedule VI to the Companies Act. Previous
period figures have been recasted / restated to confirm to the
classification of the current period.