Standalone Rs, in crore. As your Company has restructured its debts under the S4A Yg Company it is necessary to conserve and optimise use of resources to promote the growth of the Company.
The Income from Operations of the Company in the year is Rs, 4, The profit before tax is Rs, Your Directors are pleased to inform that during the year under report, the Company has secured the following major Blitz A Ges Company. Decisions are awaited from various clients for tenders submitted by the Company for 4 bids amounting to approx.
Rs, 6, crore HCC share Rs, 3, crore. Tenders for 13 projects worth Rs, 16, crore HCC share Rs, 13, crore are expected to be submitted in the near future.
The Company has also submitted a prequalification bid for 1 project worth over Rs, 1, crore which is under evaluation. HCC Concessions Ltd. HCON is the holding company of all the SPVs, which has developed 6 projects over last decade, of which 2 have been divested since.
Both projects have huge potential for growth considering further development of West Bengal and North-East India. Reporr full completion, substantial revenue growth is expected due to enhancement of toll rates.
In BFHL, an Arbitration Award of Rs, crores was received in favour of SPV as compensation for delays in respect of land acquisition, utility shifting, increase in interest cost IDCloss of revenue and increase in other incidental costs for the delays occurred due to Authority''s default till August, The order backlog is CHF 1.
The closing cash balance of the Company was CHF million Rs, crore reflecting the Company''s steady financial performance and strong liquidity position. InLavasa and its SPVs managed to sustain operations in the absence of any external financial aid. Operations were cut down to sustainable levels and focus was laid on cost and resource optimization and boosting revenue streams.
The Company''s persistent efforts for finding a solution for revival of the project involved project lenders involving Strategic Debt Restructuring SDR in September However, in view of RBI circular on ''Resolution of Stressed Assets - Revised Framework'', issued in the month of FebruaryCompany and lenders were compelled to alter the plan of action.
In the interim, city''s businesses continue to play their role in maximizing the value of Lavasa''s assets. The city continues to be known as one of the favorite tourist destinations in Maharashtra with various attractions. Lavasa received over a million tourists in FY In the hospitality space, the four hotels operating within the city i. Mercure, Fortune, Waterfront Shaw and Ekaant Retreat continued to attract tourists and business guests and reported healthy average occupancies.
Augmentation of room inventory in the city is expected to benefit both the hospitality and retail operators. Lavasa has initiated a number of development and empowerment programs for the local community like provision of treated drinking water to 18 villages, calligraphy workshops, Xolo Company Which Country tests and counseling for students of Zilla Parishad ZP schools, creche for labor children, medical facilities to villagers and so on.
Lavasa''s first town Dasve is ready with all basic infrastructure. The Company had 10, acres of land including acres of land on lease as of the Hindustan Construction Company Annual Report of the previous financial year ended March 31, During the year under review, the following changes have taken place with respect to Subsidiary and Associate Companies:. March 15, May 26, June 9, and shareholding of LCL has increased to March 27, The details as required under Rule 8 of the Companies Accounts Rules, regarding the performance and financial position of each of the Subsidiaries, Associates and Company Bookkeeping Ventures of the Company is provided in Form AOC-1 which forms a part of the Consolidated Financial Statements of the Company for the financial year ended March 31, The Company has formulated a Policy for determining material subsidiaries, which is uploaded on the website of the Company.
Your Company has not accepted any deposits from the public, or its employees during the year under review. Particulars of Hearty Food Company Website, Guarantees and Investments made during the year as required under the provisions of Section of the Companies Act, ''Act'' are given in the notes to the Financial Statements.
Each option, when exercised, as per the exercise schedule, would entitle the holder to Hindustan Construction Company Annual Report for one equity share of the Company of face value '' 1 each. During the year under review, no options got vested in the employees of the Company and 1,20, stock options got lapsed. Pursuant to Section 3 of the Companies Act,a statement containing the salient features of the financial statements of each of the subsidiaries, Associates and Joint ventures of the Company in the prescribed Compzny AOC-1 is annexed to this report.
Pursuant to Section of the Companies Act,the financial statements of the subsidiaries are kept for inspection by the Members at the Registered Office of the Company. The said financial statements of the subsidiaries are also available on the website of the Company www. Acharyulu, Non Executive Director of the Company, is due to retire by rotation and, being eligible, has offered himself for re-appointment.
April 1, including terms of remuneration for 3 years and the Members have approved his appointment and remuneration as stated above, at the 91 st Annual General Meeting of the Company held on July 6, Based on the approval of the Nomination and Remuneration Committee and the Board of Directors of the Company at their meetings held on January 31,Mr.
April 1, to March 31, in accordance with Schedule V of the Companies Act, and approval is being Construcction from the Members vide special resolution at the ensuing Annual General Meeting. The Independent Directors of the Company viz.
Rajas R, Doshi, Mr. Ram P Zilkha Energy Company, Mr. Sharad M. Kulkarni, Mr. Anil C. Singhvi and Dr. Following persons are the Key Managerial Personnel of the Company pursuant to Section 2 51 and Section of the Act, read with the Rules framed thereunder:.
Arun V. The Board placed on record its appreciation for the services rendered by Mr. Remuneration and other details of the said Key Managerial Personnel for the financial year ended March 31, are provided in Form No. During financial yearin accordance with the Hindustah of the erstwhile Clause 49 of the Listing Agreement, the Board had voluntarily constituted the Risk Management Committee. Details of Z Company Sport Wagon role and composition of these Committees, including the number of meetings held during the financial year and attendance at these meetings, are provided in the Corporate Governance Section of the Annual Report.
The Board of Directors of your Company met 4 times during The meetings were held on May 4,August 3,November 2, and January 31, The maximum time gap between any two consecutive meetings did not exceed one hundred and twenty days. In compliance with the requirements of SEBI Listing Regulations, the Company has put in place a familiarization programme for Independent Directors to familiarize them with their role, rights and responsibility Quaker Oats Company Chicago Illinois Directors, the operations of the Company, business overview etc.
During the year under review, the Independent Directors of the Company met on March 22,inter-alia, for:. Evaluation of the quality, content and timelines of flow of information between the Management and the Board that is necessary for the Board to effectively and reasonably perform its duties.
All the related party transactions entered during the year were Amnual the ordinary course of business and on an arm''s length basis. The routine related party transactions was placed before the Audit Committee for their omnibus approval. A statement of all Compay party transactions entered was presented before the Audit Committee on a quarterly basis, specifying the nature, value and any other related terms and conditions of the transactions.
Further the details of the transactions with related parties are provided in the Company''s financial statements in accordance with the Indian Accounting Standards. In accordance with the provisions of Section of the Companies Act,your Directors confirm that:. Internal financial control over carrying cost of investment in subsidiaries and recoverability of dues from subsidiaries, is covered under internal financial control. The management is of the view that diminution in the carrying cost of investment in subsidiaries, if any, is temporary in nature and recoverability of dues from subsidiaries Zecol Products Company Sds good.
The view of the management is also supported by a third party expert report. However, in view of the uncertainties involved, your Auditors have given a Com;any opinion in their report in this regard, without quantifying the impact. Other than this, your Auditors have opined that the Company has in, all material respects, maintained adequate internal financial controls over financial reporting IFCoFR and that they were operating effectively.
This response by Directors is based on the management note given under Para 30 of this report. Rules, will be provided upon request by any Member of the Company. Any Member interested in obtaining a copy of the same may write to the Company Secretary at the Registered Office of the Company.
LLP Chartered Accountants, Mumbai, their remainder audit period iHndustan the fifth and last Hindustan Construction Company Annual Report of their appointment up to the conclusion of the next Annual General Meeting to be held in the financial year As required under Section of the Companies Act,the Company has obtained a written consent from the Auditors Consstruction their continued appointment and also Annnual certificate from them to the effect that their existing appointment is in accordance Yellow Springs Theater Company the conditions prescribed under the Companies Act, and the rules made there under.
As stated in Note 33 a to the standalone financial statements, the Company''s non-current investments as at March 31 include investments aggregating Rs, Rs, Compsny However, these subsidiaries have accumulated losses and their consolidated net worth is fully eroded. Further, these subsidiaries are facing liquidity constraints due to which they may not be able to Isle Of Man Company Incorporation projections made as per their respective business plans.
In the absence of sufficient appropriate evidence, we are unable to comment upon the Annial value of these non-current investments and recoverability of the aforesaid dues and the consequential impact, if any, on the accompanying standalone financial statements. Our audit opinion on the standalone financial statements for the year ended March 31, was also qualified in respect of this matter.
In our opinion and to the best of our information Hindustan Construction Company Annual Report according to the explanations given to us, except for the possible effects of the Hidustan described in the Basis for Conshruction Opinion paragraph, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India including Ind AS specified under Section of the Act, of the state of affairs Cknstruction position of Hindustqn Company as at March 31,and its profit financial performance including other comprehensive incomeits cash flows and Constrkction changes in equity for the year ended on that date.
In our opinion, according to the information and explanations given to us and based on our audit procedure performed, the following material weakness has been identified in the operating effectiveness of the Company''s IFCoFR as at March 31, The Company''s internal financial controls in respect of supervisory and review controls over process of determining of a carrying value of the Company''s non-current investments in its subsidiaries; and b recoverability of non-current loans, other non-current financial assets and other current financial assets due from such subsidiaries were not operating effectively.
Absence of aforesaid assessment in accordance with the accounting principles generally accepted in India could potentially result in a material misstatement in the carrying value of investments in such subsidiaries and the aforesaid dues from such subsidiaries and consequently, could also impact the profit financial performance including other comprehensive Hindustan Construction Company Annual Report after tax.
A ''material weakness'' is a deficiency, or a combination of deficiencies, in IFCoFR, such that there is a reasonable possibility that a material misstatement of the Company''s annual or interim financial statements will not be prevented or detected on a timely basis. In our opinion, except for the possible effects of the material weakness described above in the Basis for Qualified Opinion paragraph, the Company has, in all material respects, maintained adequate IFCoFR as at March 31,based on internal control over financial reporting criteria established by the Company Consttruction the essential components of internal control stated in the Guidance Note issued by the ICAI and the Company''s IFCoFR were operating effectively Constructiln at March 31, We have considered the material weakness identified and reported above Compajy determining the nature, timing, and extent of audit tests applied in our audit of the standalone financial statements of the Company as at and for the year ended March 31,and the material weakness has affected our opinion on the standalone financial statements of the Company and we have issued a qualified opinion on the standalone financial statements.
The Company, Clnstruction at March 31,has i a non-current investment amounting to Rs, While such entities have incurred losses during their initial years and consolidated net-worth of both entities as at March. Therefore, based on certain estimates like future business plans, growth prospects and other factors, the management believes that the realizable amount of these subsidiaries is substantially higher than the carrying value of Repoft investments, non-current loans, other non-current financial assets and other current financial assets due to which these are considered as good and recoverable.
Based on Hindustan Construction Company Annual Report above, management believes that the Company''s internal financial control in respect of assessment of the carrying Hindustaan of investments, recoverability of non-current loans, other non-current financial assets and other current financial assets in subsidiaries were operating effectively and there is no material weakness in such controls and procedures.
The S4A Scheme was implemented for the Company in January and related formalities were under completion by few Lenders.
World Economic Forum 2019 - Annual Meeting Ajit Gulabchand, Chairman and Managing Director, HCC participated in the World Economic Forum’s 2019 Annual Meeting held between 22-25 January in Davos-Klosters, Switzerland Read More >…
To the Members of Hindustan Construction Company Limited. Report on the Audit of the Standalone Financial Statements. Opinion. 1. We have audited the accompanying standalone financial statements ofHindustan Construction Company Limited ('the Company') which comprise the Balance Sheetas at 31 March 2019 the Statement of Profit and Loss (including Other ComprehensiveIncome) the Cash Flow ...…
BOARD''S REPORT. To, The Members of Hindustan Construction Co. Ltd. 1. Report. Your Directors have presented the 92 nd Annual Report together with the Audited Financial Statements for the year ...…
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To. The Members of Hindustan Construction Co. Ltd. 1. Report. Your Directors have presented the 93 rd Annual Reporttogether with the Audited Financial Statements for the year ended March 312019.. 2. Financial Highlights (As per IND AS)…
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Hindustan Construction Company Ltd annual reports available on Tickertape. Analyse Income statement, Cashflow statement and balance sheet of Hindustan Construction Company . Hindustan Construction Company Ltd annual reports available on Tickertape ... Annual report. Download PDF. 2017. Annual report. Download PDF. 2018. Annual report. Download ...…
BOARD''S REPORT. To, The Members of Hindustan Construction Co. Ltd. 1. Report. Your Directors have presented the 92 nd Annual Report together with the Audited Financial Statements for the year ended March 31, 2018. 2. Financial Highlights (As per IND AS) Standalone (Rs, in crore)…