(i) Company has taken assets on leases which majorly include Land & Building, Machinery and Vehicles.
(ii) There are exemption provided by accounting standard for following leases as defined in para 5 of IND AS-116:
a. Short term lease and
b. Leases for which the underlying asset is of low value.
(iii) Under such exemption company booked expenses of Rs. 1704.00 Lacs (P.Y. Rs. 2037.16 lacs) as Rental expenses, Machine Hiring and Vehicle Hiring.
(iv) Company has accounted as per guidance provided by Ind AS -116 and recognize Right to use assets and lease liability for which complete disclosure is provided.
*The entire advance provided to Om Metal Consortium Private Limited has been classified as a non-current asset, as the management does not expect its recovery within the next twelve months. Considering the financial position of the subsidiary and the significant interest burden on its existing borrowings, no interest has been charged on the advance extended by the Company. Further, as the repayment schedule is presently indeterminate and the nature of the funding cannot be distinctly bifurcated between debt and equity contribution, the entire amount continues to be disclosed as an advance.
**No Interest Provided on Loans to Subsidaries As Agreement with Food Corporation of India is being terminated by the Project Authority and Subsidiaries have either sold the partial land or in process of selling land.
*** No Interest Provided on Joint venture due to such company terminated its agreement with project authority and recovery of Interest amount is not probable.
1 Above issued,subscribed and paidup capital includes :-
(a) 42554000 nos.of fully paid Equity Share of Rs.1/- each were alloted as bonus shares by way of capitalisation of reserves and Profit & Loss Account
(b) 20112659 Shares of Rs. 1 each have been allotted for consideration other than cash, pursuant to the scheme of amalgamation sanctioned by Hon'ble High Court of Rajasthan dated 19.01.2007 to the share holders of erstwhile :-2. Rights, preferences and restrictions attached to equity shares .The Company has a single class of equity shares. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
(i) General reserve
The Company created a General Reserve in earlier years pursuant to the provisions of the Companies Act,1956 where in certain percentage of profits were required to be transferred to General Reserve before declaring dividends. As per Companies Act 2013, the requirements to transfer profits to General Reserve is not mandatory. General Reserve is a free reserve available to the company.
(ii) Dividends
The Company declared and paid final dividends in Indian rupees Rs. 385.26 lacs for the year 202425 and Board recommend dividend of Rs. 0.50. In Board meeting dated 13.05.2026 and such amount will be payable after approval in annual general meeting by shareholders for FY 2025-26.
(iii) Capital Reserve
Reserve is created on amalgamation as per statutory requirement for Rs. 81.67 crore and balance Rs. 41.51 crore on account of sales of assets and investments.
(iv) Other Comprehensive Income (Refer Note : 46)
(A) Remeasurements of the Net Defined Benefit liability, comprising actuarial gains and losses on remeasurement of net defined benefits, are recognized in Other Comprehensive Income. These amounts are not reclassified to profit or loss in subsequent periods.
(B) Changes in the fair value of equity instruments designated as measured through Other Comprehensive Income are recognized in OCI. The cumulative gains or losses are not reclassified to profit or loss on disposal of the instruments.
(C) Foreign Currency Translation Reserve (FCTR) represents the exchange differences arising from translating the financial statements of foreign operations into Indian Rupees. These differences are recognized in Other Comprehensive Income and accumulated under equity.
Indian companies are subject to Indian income tax on a standalone basis. Each entity is assessed to tax on taxable profits determined for each fiscal year beginning on April 1 and ending on March 31.
Statutory income taxes are assessed based on book profits prepared under generally accepted accounting principles in India adjusted in accordance with the provisions of the (Indian) Income tax Act, 1961. Such adjustments generally relate to depreciation of fixed assets, disallowances of certain provisions and accruals, deduction for tax holidays, the set-off of tax losses and depreciation carried forward and retirement benefit costs. Statutory income tax is charged at 25% plus a surcharge and education cess.
Note 1 : Working Capital Loans and non Fund base facilities viz. Bank Guarantees and Letter of Credit from banks i.e.SBI, IDBI, BOB, HDFC, RBL and Union Bank are secured by way of hypothecation of all company's current assets including stocks and book debts and first charge on other movable assets,both present and future on ranking pari - passu basis inter se between the lender. These loans are further secured on pari-passu charges by way of first/second charge by way of mortgage, by deposit of titledeeds in respect of some immovable properties as per arrangement letter & personal guarantees of the Shri D.P.Kothari, Sunil Kothari and Vikas Kothari Directors of the company, and further secured by way of equitable mortgage of land & building belonging to other companies viz Lambodar Finvest Pvt. Ltd., and Om Kothari parawarik Trust. Interest rate on working capital facilities taken from banks are either linked with Bank MCLR or Repo Rate.
The Code on Social Security, 2020 (Code') relating to employee benefits during employment and postemployment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective. Based on a preliminary assessment, the entity believes the impact of the change will not be significant."
Effective November 21, 2025, the Government of India consolidated 29 existing labour regulations into four Labour codes, namely, The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to as the ‘New Labour Codes’, The New Labour Codes has resulted in a onetime material increase in provision for employee benefits on account of recognition of past service costs. Based on the requirements of New Labour Codes and the ICAI clarification, the Company has assessed the impact of the New Labour Codes and concluded that there is no impact on the financial statements for the year ended March 31, 2026.
(b) Defined Benefit Plans
Gratuity has been provided on the basis of actuarial valuation using the project unit credit method and same is non-funded. The obligation for leave encashment is recognized in the same manner as gratuity.
The plans in India typically expose the Company to actuarial risks such as: investment risk, interest rate risk, longevity risk and salary risk.
Investment risk: The liability is not funded and is not relevant in Company.
Interest risk: The rate used to discount post-employment benefit obligation should be determined by reference to market yields at the balance sheet date on Government bonds. The currency and term of government bonds should be in consistent with the currency and estimated term of postemployment benefit obligation.
Salary risk: Salary increase should take into account inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.
No other post-retirement benefits are provided to these employees.
Discount rate
Discount Rate for the valuation is based on Yield to Maturity (YTM) available on Government bonds having similar term to decrement-adjusted estimated term of liabilities. Estimated term of liabilities, for selection of discount rate, is calculated as average term of all future benefit payments on account of death, retirement or resignation weighted by corresponding amount of benefits.
Salary growth rate
Salary growth rate is company’s long term best estimate as to salary increases & takes account of inflation, seniority, promotion, business plan, HR policy and other relevant factors on long term basis as provided in relevant accounting standard.
Withdrawal rate
Assumptions regarding withdrawal rates are also set based on the estimates of expected long-term future employee turnover within the organization.
Mortality rate
Indian Assured Lives Mortality (2012-14) as issued by Institute of Actuaries of India has been used.
Projected Unit Credit Method
As required under Para 51 (b) of Ind AS 19, valuation of plan benefits is done using Projected Unit Credit Method. Under this method, only benefits accrued till the date of valuation (i.e. based on service unto date of valuation) are considered for valuation. Present value of Defined Benefit Obligation is calculated by projecting salaries, exits due to death, resignation and other decrements, if any, and benefit payments made during each month till the time of retirement of each active member using assumed rates of salary escalation, mortality & employee turnover rates. The expected benefit payments are then discounted back from the expected future date of payment to the date of valuation using the assumed discount rate.
Ind AS 19 also requires 'Service Cost' to be calculated separately in respect of benefit accrued during the current period. Service Cost is calculated using the same method as described above; however instead of all accrued benefits, benefit accrued over the current reporting period is considered.
(a) Primary Segment: Business Segment
Based on the guiding principles given in “IndAccounting Standard -108 Operating Segments” notified under Companies (Accounting standard) Rules 2006, the Company’s operating business are organized and managed separately according to the nature of products manufactured and services provided. The identified reportable are:
1 Engineering Segment
2 Real Estate Segment
Secondary Segment: Geographical segment:
The analysis of Geographical segment is based on the geographical location i.e. domestic and overseas markets of the customers.
(b) Segment accounting polices
In addition to the significant accounting policies applicable to the business segment as set in note 2.23, the accounting policies in relation to segment accounting are as under:
i) Segment revenue & expenses
Joint revenue and expenses of segments are allocated amongst them on a reasonable basis. All other segment revenue and expenses are directly attributable to the segments.
Segment assets include all operating assets used by a segment and consist principally of operating cash, receivables, inventories and fixed assets, net of allowance and provisions, which are reported as direct off sets in the balance sheet. Segment Liabilities include all operating Liabilities and consist principally of trade payables & accrued liabilities. Segment assets and liabilities do not include deferred income taxes except in the Engineering division. While most of the assets/liabilities can be directly attributed to individual segments, the carrying amount of certain assets /liabilities pertaining to two more segments are allocated to the segments on a reasonable basis.
Inter segment sales between operating segments are accounted for at market price. These transactions are eliminated in consolidation. The main division is engineering division and funds provided by engineering division to other division and interest on such balances are not charged.
(I) Capital Risk Management
The Company being in a capital intensive industry, its objective is to maintain strong credit rating healthy capital ratios and establish a capital structure that would maximize the return to stakeholders through optimum mix of debt and equity.
The Company’s capital requirement is mainly to fund its capacity expansion, repayment of principal and interest on its borrowings and strategic acquisitions. The principal source of funding of the Company has been, and is expected to continue to be, cash generated from its operations supplemented by funding from bank borrowings and the capital markets.
The Company regularly considers other financing and refinancing opportunities to diversify its debt profile, reduce interest cost and elongate the maturity of its debt portfolio, and closely monitors its judicious allocation amongst competing capital expansion projects and strategic acquisitions, to capture market opportunities at minimum risk.
(II) Financial Risk Management
The Company manages financial Risk by its Board of Directors for overseeing the Risk Management Framework and developing and monitoring the Company’s risk management policies. The risk management policies are established to ensure timely identification and evaluation of risks, setting acceptable risk thresholds, identifying and mapping controls against these risks, monitor the risks and their limits, improve risk awareness and transparency. Risk management policies and systems are reviewed regularly to reflect changes in the market conditions and the Company’s activities to provide reliable information to the Management and the Board to evaluate the adequacy of the risk management framework in relation to the risk faced by the Company.
The risk management policies aim to mitigate the following risks arising from the financial
(A) Market risk
(B) Credit risk; and
(C) Liquidity risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in the market prices. The Company is exposed in the ordinary course of its business to risks related to changes in foreign currency exchange rates, commodity prices and interest rates.
(i) Foreign Currency Risk Management [As per Annexure 48.2(II)(A)(i)]
The Company’s functional currency is Indian Rupees (INR). The Company undertakes transactions denominated in foreign currencies; consequently, exposure to exchange rate fluctuations arise. Volatility in exchange rates affects the Company’s revenue from export markets and the costs of imports, primarily in relation to raw materials. The Company is exposed to exchange rate risk under its trade and debt portfolio.
Adverse movements in the exchange rate between the Rupee and any relevant foreign currency result’s in increase in the Company’s overall debt position in Rupee terms without the Company having incurred additional debt and favorable movements in the exchange rates will conversely result in reduction in the Company’s receivables in foreign currency.
(ii) Commodity Price Risk -:
The Company’s revenue is exposed to the market risk of price fluctuations in its division is as under:
The Company generally takes Turnkey projects from government departments. The contract price is generally fix and free from any price risk subject to change in any government policy or rules.
Real Estate Segment: The Company is exposed to risk of prices of Residential and commercial units. These prices may be influenced by factors such as supply and demand, and regional economic conditions.
The Company primarily purchases its raw materials in the open market from third parties. The Company is therefore subject to fluctuations in prices for the purchase of Building Material and other raw material inputs. The Company purchased substantially all of its Raw Material from third parties in the open market.
The Company aims to sell the products at prevailing market prices. Similarly the Company procures raw materials on prevailing market rates as the selling prices of its products and the prices of input raw materials move in the same direction.
(iii) Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to interest rate risk because funds are borrowed at both fixed and floating interest rates. Interest rate risk is measured by using the cash flow sensitivity for changes in variable interest rate.
(B) Credit Risk Management:
Credit risk refers to the risk that counterparty will default on its contractual obligations resulting in financial loss to the Company. Credit risk encompasses of both, the direct risk of default and the risk of deterioration of creditworthiness as well as concentration risks.
Company’s credit risk arises principally from the trade receivables, loans, investments in debt securities, cash & cash equivalents.
Trade Receivables:
The Company’s customer profile includes public sector enterprises, state owned companies and private corporate as well as large individuals. Accordingly Company’s customer risk is low. The Company’s average project execution cycle is around 24 to 36 months, general payment terms includes mobilization advances, monthly progress payments with a credit period ranging from 45 to 90 days and certain retention money to be released at the end of the project.
Customer credit risk is managed centrally by the Company and subject to established policy, procedures and control relating to customer credit risk management. Credit quality of a customer is assessed based on an extensive credit rating scorecard. The history of trade receivables shows a negligible allowance for bad and doubtful debts.
Cash and cash equivalents and other bank balances
The Company held cash and cash equivalents and other bank balances as at March 31, 2026 is Rs. 7475.18 lacs. The cash and cash equivalents are held with bank with good credit ratings and financial institution counterparties with good market standing.
(C) Liquidity Risk Management
Liquidity risk refers to the risk of financial distress or extraordinary high financing costs arising due to shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and requiring financing. The Company requires funds both for short term operational needs as well as for long term capital expenditure growth projects. The Company generates sufficient cash flow for operations, which together with the available cash and cash equivalents and short term investments provide liquidity in the short-term and long-term. . The Company has established an appropriate liquidity risk management framework for the management of the Company’s short, medium and longterm 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 actual cash flows, and by matching the maturity profiles of financial assets and liabilities.
The following tables detail the Company’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods and its non-derivative financial assets. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows.
a) Performance Obligations and Remaining Performance Obligations
i) The remaining performance obligation disclosure provides the aggregate amount of the transaction price yet to be recognized as at the end of the reporting period and an explanation as to when the Company expects to recognize these amounts in revenue. Applying the practical expedient as given in Ind AS 115, the Company has not disclosed the remaining performance obligation related disclosures for contracts where the revenue recognized corresponds directly with the value to the customer of the entity's performance completed to date, typically those contracts where invoicing is on time and material basis. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustment for revenue that has not materialized and adjustments for currency.
b) Disaggregation of revenue of segments as required by Ind As-115, has already been disclosed under note no. 45.
c) Out of Revenue from operations Rs. 46842.38 Lacs (P.Y. Rs. 66627.77 lacs) recognized under IndAS 115 during the year, Rs. 44115.10 Lacs (P.Y. Rs. 64456.60 lacs) is recognized over a period of time and Rs. 2727.28 Lacs (P.Y. Rs. 2171.17 lacs) is recognized at point in time.
d) There is no material impact on provision for expected credit loss so movement analysis is not required.
e) Contract balances: Company recognized revenue as per Ind AS 115 and revenue is directly debited in trade receivables instead of debiting it into contract assets. Retention money deducted amounting to Rs. 11211.41 (P.Y. Rs. 11328.28 Lacs) is included in Trade receivables. Company's Trade
receivables includes unbilled receivable of Rs 5116.73 lacs (P.Y. Rs. 4981.42 lacs ) in balance sheet which are recognized as contact assets in balance sheets. Contract liabilities are those liabilities for which revenue recognized on point in time approach and amount has been received as booking (only in real estate activities).
Contingent Liabilities (Not Provided For) In Respect of Following:
2) The Company from time to time provides need based funding to subsidiaries and joint ventures entity towards capital and other requirements.
3) The Company has provided a corporate guarantee of up to Rs 50 crores to RBL Bank on behalf of its subsidiary, Om Metal Consortium Private Limited, in respect of a loan facility of Rs 50 crores sanctioned to the subsidiary. As at the reporting date, the subsidiary has not drawn or utilized any amount under the said loan facility and, accordingly, no obligation has arisen under the corporate guarantee.
52 Related Party disclosure under IND AS-24 “Related party disclosures” notified:
During the year, the Company entered into transactions with the related parties. Those transactions along with related balance as at 31st March 2025 and for the year ended on 31st March 2026 are presented below.
a) The Company, as at 31 March 2026, has (i) a non-current investment amounting to Rs 5589.70 lacs (31 March 2025: 5589.70 Lacs), and current advances of Rs 6032.62 lacs (31stMarch 2025 : Rs. 6024.00 Lacs) in Bhilwara Jaipur Toll Road Private Limited, subsidiary (P.Y. Joint Venture), is holding 51.28% (P.Y. 51.28%) share in Special Purpose Vehicle (SPV). SPV had been awarded project by Rajasthan State Govt. through PWD to Design, Build, Finance, Operate and transfer (DBFOT) SH-12 toll road through an agreement dated 12.07.2010. SPV was granted a right to collect toll fees for 22 years starting from 02.02.2012 till 02.02.2034. Company is fulfilling its obligations perfectly despite of regular defaults made by government in fulfilling its obligations.
The Special Purpose Vehicle (SPV) has filed for termination with the respective authority and claimed the amount invested along with termination payments as per the concession agreement, amounting to Rs. 61,200.00 Lakhs. The arbitrator has awarded Rs. 77,943.00 Lakhs in favour of the SPV. Out of this awarded amount, the SPV has received Rs. 25,054.00 Lakhs to comply with the commercial court's order. This amount has been used to repay loans and cover other expenses. Amount Received from PWD is treated as current liability in Financial statements of SPV.
However, neither the arbitration award nor the amount received from the government has been accounted for in the SPV's financial statements as of the balance sheet date. This is because the Public Works Department (PWD) has challenged the arbitrator's award in an appeal to the High Court. Given the ongoing legal proceedings, the recognition of this amount in the financial statements has been deferred until there is a final resolution of the case.
b) The Company, as at 31 March 2026, has a non-current investment amounting to Rs 2.50 lacs (31 March 2025: Rs. 2.50 lacs), and non-current advances of Rs 748.43 lacs (31st March, 2025 Rs. 748.43 Lacs) in Gurha Thermal Power Company Limited, aJoint Venture, is holding 50% share in Joint Venture.The Joint Venture has terminated the Power Purchase Agreement (PPA) on 15-07-2015 with Rajasthan RajyaVidhyut Prasaran Nigam Ltd (RRVPNL). The Joint Venture was formed for the Business of Power generation and selling the same to the RRVPNL. As the agreement is terminated by the Joint Venture and the Joint Venture has also filed the claim against the RRVPNL for the recovery of the amount invested by the Company of Rs. 750.16 Lacs plus interest. The Joint Venture has filed petition before the Rajasthan Electricity Regulatory Commission, Jaipur. RERC vide its order dated 09.01.2018 dismissed the petition. The Joint Venture challenged the order of RERC, Jaipur by filing appeal before the APTEL (Appellate Tribunal for Electricity), New Delhi.
The Joint Venture has filed for termination with the respective authority (DISCOMS) and has claimed the amount invested along with termination payments. Initially, the Rajasthan Electricity Regulatory Commission (RERC) dismissed the claim. Subsequently, the Joint Venture preferred an appeal before the Appellate Tribunal for Electricity (APTEL).
APTEL ruled in favor of the Joint Venture, awarding a total of Rs. 5,390.92 Lakhs, inclusive of interest. However, this verdict has not been accounted for in the Joint Venture's financial statements as of the balance sheet date. The decision has not been recognized in the financial statements due to the appeal filed against the APTEL's verdict in the Honorable Supreme Court. As the final outcome remains uncertain, the Joint Venture has deferred the recognition of the awarded amount in its financial records.
58 In every payment of running bill, project authority deduct retention amount on account of defect liabilities arise during the contract period which is either released by submitting bank guarantee or released after successful completion of project. This retention amount keeps accumulating. Collection of retention money is probable and therefore debtors on account of retention money are considered good based on the track record and previous performance of the company. Deduction of retention money has been claimed as per the provisions of Income Tax Computation and Disclosure Standards (ICDS). Company have created deferred tax on retention money due to difference in tax base and accounting base as per Ind As 12 and same has been considered for previous year as well.
59 In case of UP Amroha & Rampur (Revenue C.Y. Rs 5904.03 Lacs and P.Y Rs 14145.73 Lacs) project, which has been allocated to OMIL-JWIL JV and SSNNL Gujrat (Revenue C.Y. Rs 883.42 lacs and P.Y. Rs. 550.53 lacs ) project which has been allotted to Om Metals -Spml JV but being a lead partner, revenue is been recognized in comapny’s books and Income tax is deducted in the name of Om Infra Limited itself. All payments were received by Om Infra Limited and no objection for the same has been received from project authority .
60 Insurance cover has been taken for bulky items at Kota factory like steel plates/ Machines etc. which are not easily subjected to for burglary or theft.
61 Due to high labour turnover at hilly or remote locations of project site some time it is very difficult to accomplish the labour related compliances in these regions.
62 The provision of Employees benefits has been taken on the basis of best judgment policy and prudent business practice as assessed and provided by the Board of directors and Remuneration committee.
63 After the award of work, sometimes other partner of the JV falls short of its financial commitment in JV and the one partner has to meet all financial obligations. This entails for modified profit percentage to the other partner in JV depending on nature and circumstances of the project and the JV agreement is supplemented to provide such effect.
As per section 135 of the Companies Act, 2013, a company meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years of corporate social responsibility (CSR) activities. The areas for CSR activities are eradication of hunger and malnutrition, promoting education, art and culture, healthcare, destitute care and rehabilitation, environment sustainability, disaster relief and rural development projects. A CSR committee has been formed by the Company as per the Act. The funds were primarily allocated to a corpus and utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013.
The Company has contributed an aggregate amount of ?105.00 lakhs towards Corporate Social Responsibility (CSR) activities, comprising ?40.00 lakhs to Shree Madhav Priya Gau Sewa Samiti, ?50.00 lakhs to Dakshiva Welfare Foundation, and ?15.00 lakhs to Om Kothari Foundation. As per the Utilization Certificates obtained from the respective implementing agencies, the entire amount has been utilized for the intended CSR purposes. The Company has relied upon these Utilization Certificates as evidence of utilization of the CSR expenditure.
• Gross amount required to be spent by the Company during the year is Rs. 105.00 Lacs (P.Y. Rs. 93.00 Lacs).
65 Claims
The company raised various claims with various customer/ parties/subsidiaries of company/Joint Ventures/Subsidiaries amounting to Rs 52771.23 lacs (Rs. 58116.80 lacs in Previous Years), against these claims, the Arbitrator awarded claims of Rs 1263.70 lacs (P.Y Rs.1401.70 lacs). The company has not been recognizing the revenue on the aforesaid Arbitration Awards on its claimed including interest as awarded from time to time. There are also some counter claims by the customer / Other Parties amounting to Rs 1805.72 lacs (Rs. 1521.02 Lacs included in previous year) against these claims, the Arbitrator awarded claims to the customer of Rs 366.94 (Rs 82.24 lacs in the Previous Year). These awards are further challenged by the customer as well as the Company in the higher courts as the case may be. In accordance with past practice, the Company has not made adjustment because the same has not become rule of the court due to the objections filed by customer / parties and by the Company.
66 Amount received of Rs 30.98 lacs (P.Y. Rs. 1.68 Lacs) as profit from Joint venture namely OMIL VKMCPL JV (Pench -II) is received as per agreement dated 15th Nov 2019 between company and Vijay Kumar Mishra Construction Pvt. Ltd. (VKMCPL) . As per agreement company waived its rights in OMIL-VKMCPL JV (Pench II) in lieu of 1.5% of turnover to be received as profit only but such amount is shown as contractual work by VKMCPL and TDS is deducted accordingly. But company has booked such amount as profit from JV only as per agreement terms.
67 The company, through its two subsidiaries namely Gujrat Warehousing Private Limited (GWPL) & Bihar Logistics Private Limited (BLPL), had signed a concession agreement with Food Corporation of India (FCI) for the construction of silos on a Build, Own, Develop, and Operate (BODO) basis for a period of 30 years in Gujarat and Bihar. While a significant portion of the required land was acquired, a small portion encountered statutory hurdles. As a result, the subsidiaries had to surrender the project to FCI and sought a claim for the both projects. The matter is currently under arbitration. Meanwhile, the GWPL has sold the major portion of the acquired land in Gujarat, and the land in Bihar is in the process of monetization.
The company has invested Rs. 7.53 crores as share capital and advanced Rs. 12.33 crores in both subsidiaries, which are considered good and recoverable.
* Reason for not being held in the name of company
The property can not be registered under the name of company as there are some judicial proceedings continuing against the whole building.
(ii) Revaluation of Property, Plant and Equipment (PPE): The Company has not revalued its PPE, accordingly the disclosure of information related to this point is not applicable.
(iii) Details of Benami Property Held: The company does not have any Benami property, where any proceeding has been initiated or pending against the company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.
(iv) Capital-Work-in Progress (CWIP): The Company have Capital Work in Process as on 31st March, 2026.
(v) Intangible Assets under Development: The Company does not have Intangible assets under development as on 31st March, 2026.
(vi) Loans and advances granted to promoters, directors, KMPs and the related parties: The
Company has not granted loans and advances in the nature of loan to promoters, directors, KMPs and the related parties (as defined under the Act) either severally or jointly with any other person, that are repayable on demand or without specifying any terms or period of repayment except loans and advance to its Joint venture & Subsidiaries(Refer Note-10&17)
(vii) Security of Current Assets against Borrowings: The Company has borrowed funds from banks for working capital management and hypothicated the Inventories and Book Debts for the same.
(viii) Willful Defaulter: The Company has not been declared a wilful defaulter by any bank or financial institution or government, or any government authority.
(ix) Relationship with Struck off Companies : The company does not have any transactions with companies struck-off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956.
(x) Registration of Charges or Satisfaction with Registrar of Companies: The Company has created charge(s) on its borrowings, and all terms and conditions relating to such charges have been complied with as at the reporting date.
(xi) Compliance with Number of Layers of Companies: The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013, read with Companies ( Restriction on Number of Layers) Rules 2017.
(xii) Compliance with approved Scheme(s) of Arrangements: The Company has not undertaken any such transaction, accordingly the disclosure of information related to this point is not applicable.
(xiii) Utilization of Borrowed Funds and Share Premium:
a) The Company has not advanced or loan or invested funds (either borrowed funds or share premium or any other source or kind of funds) to any other persons or entity, including foreign entity (intermediaries) with the understanding that the intermediary shall directly or indirectly lend or invest in other persons or entitles identified in any manner whatsoever by or on behalf of the Company (ultimate Beneficiaries) or provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
b) The Company has not received any fund from any person or entity, including foreign entity (Funding Party) with the understanding that the Company shall directly or indirectly lend or invest in other person or entity identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or provided any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(xv) Undisclosed Income: The company does not have any transaction which is not recorded books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 .
(xvi) Details of Crypto Currency or Virtual Currency: The company does not have any cryptocurrency transactions during the financial year.
(xvii) The Company has not entered into any non-cash transactions with its directors or persons connected with its directors and hence provisions of Section 192 of the Act are not applicable to the Company.
(xviii) The other additional disclosures and information's (not specifically disclosed) as required by Schedule III are either nil or not applicable.
69 The Company have proposed Rs 0.50 final dividend for the year ended 31 March 2026 which is subject to the approval of the members at the ensuing Annual General Meeting. The dividend declared is in accordance with section 123 of the Act to the extent it applies to declaration of dividend.
71 Figures for previous year have been re-arranged/recomapnyed wherever necessary to make them comparable.