Leveraging Strengths. Maximising Outcomes.

Corporate Overview Statutory Reports Financial Statements

Consolidated Balance Sheet

as at 31stMarch, 2024

degree of compliance with the policies or procedures may financial controls over financial reporting insofar as it (` in Lakhs)
deteriorate. relates to twenty-nine subsidiary companies incorporated 31 March 2024 31 March 2023
Particulars Note
in India, and to whom internal control over financial
ASSETS
Opinion reporting is applicable, is based on the corresponding
reports of the Auditors of such companies. (1) Non-current assets
6 In our opinion, the Holding Company and its subsidiary (a) Property, plant and equipment 2.1 1,51,627.82 1,77,043.72
companies, which are companies incorporated in India, (b) Capital work in progress 2.2 2,65,802.38 3,38,514.86
have in all material respects, an adequate internal financial For M. K. Dandeker & Co LLP. (c) Investment properties - -
controls system over financial reporting and such internal Chartered Accountants, (d) Goodwill 593.09 593.09
financial controls over financial reporting were operating Firm’s Registration No.: 000679S / S000103 (e) Other Intangible assets 2.3 640.22 1,296.00
effectively as at March 31, 2023, based on the internal
(f) Financial assets
control over financial reporting criteria established by
(i) Investments 3.1 96,445.72 50.00
the Holding Company and its subsidiary companies,
considering the essential components of internal control (ii) Trade receivables 4 79,881.51 1,32,448.29
stated in the Guidance Note on Audit of Internal Financial (iii) Loans - -
Controls Over Financial Reporting issued by the Institute of (iv) Others 8 29,303.51 22,280.97
Chartered Accountants of India. S. Poosaidurai (g) Deferred tax assets 17 7,406.03 18,934.10
Partner (h) Other non-current asset 10 53,932.52 49,837.49
Other Matters Membership No. 223754 Total Non-Current Assets 6,85,632.80 7,40,998.52
UDIN:23223754BGVSUT7060
(2) Current assets
7 Our aforesaid report under Section 143(3)(i) of the Act on Place: Bhopal
the adequacy and operating effectiveness of the internal Date: 19.05.2023 (a) Inventories 5 3,36,826.45 3,43,913.72
(b) Financial assets
(i) Investments 3 - -
(ii) Trade receivables 4 1,38,925.33 95,663.64
(iii) Cash and cash equivalent 6 19,795.71 34,294.60
(iv) Bank balances other than (iii) above 7 22,804.61 23,984.21
(v) Loans 9 6,239.57 8,358.91
(vi) Others 8 1,31,313.64 1,10,388.16
(c) Current Tax Asset (Net) 19,152.80 36,459.61
(d) Other current assets 10 1,67,598.84 2,33,057.88
Total Current Assets 8,42,656.95 8,86,120.73
Assets held-for-sale / Assets included in disposal group(s) held-for-sale 3.2 15,644.01 6,961.54
TOTAL ASSETS 15,43,933.76 16,34,080.79
EQUITY AND LIABILITIES
Equity
(a) Equity share capital 11a 14,621.50 14,621.50
(b) Other equity 11b 3,85,539.05 3,40,445.39
(c) Non Controlling Interest (321.38) (88.64)
Total Equity 3,99,839.17 3,54,978.25
Liabilities
(1) Non-current liabilities
(a) Financial liabilities
(i) Borrowings 12 3,96,129.18 5,96,401.88
(ii) Trade payable - -
(iii) Other financial liabilities 14 592.28 1,774.07
(b) Provisions 15 20,704.06 15,282.40
(c) Deferred tax liabilities - -
(d) Other non-current liabilities 16 33,729.65 50,509.14
Total Non-Current Liabilities 4,51,155.17 6,63,967.49

316 Annual Report 2022-23 Annual Report 2023-24 317

 Leveraging Strengths. Maximising Outcomes. Corporate Overview Statutory Reports Financial Statements

Consolidated Balance Sheet Consolidated Statement of profit and loss

as at 31stMarch, 2024 for the year ended 31stMarch 2024

(` in Lakhs)
Particulars Note 31 March 2024 31 March 2023 Particulars Notes For the year ended For the year ended
31 March 2024 31 March 2023
(2) Current liabilities
I Revenue from Operations 18 10,64,364.45 9,56,642.91
(a) Financial liabilities
II Other income 19 6,796.40 3,838.65
(i) Borrowings 12 2,69,667.68 2,81,917.77 III Total Income (I+II) 10,71,160.85 9,60,481.56
(ii) Trade payable IV Expenses
(a) total outstanding dues of micro enterprises and small enterprises; 13 5,419.27 2,702.08 Cost of construction 20 9,31,018.41 8,27,101.38
(b) total outstanding dues of creditors other than micro enterprises Changes in inventories 21 (7,175.26) 1,142.48
13 3,00,311.04 2,23,880.27
and small enterprises; Employee benefits expense 22 21,400.37 22,545.39
(iii) Other financial liabilities 14 45,678.61 25,611.89 Finance costs 23 90,136.36 1,05,696.17
(b) Other current liabilities 16 70,192.44 79,487.69 Depreciation and amortization expense 2 39,849.73 39,977.05
Other expenses 24 23,462.20 28,592.05
(c) Provisions 15 1,670.38 1,535.34
Total expenses (IV) 10,98,691.81 10,25,054.51
(d) Current Tax Liability (Net) - -
V Profit / (Loss) before exceptional items and tax (III-IV) (27,530.96) (64,572.95)
Total Current Liabilities 6,92,939.42 6,15,135.05
VI Exceptional items 42 & 43 37,873.20 (5,779.60)
Liabilities classified as held for sale / Liabilities included in disposal group VII Profit / (Loss) before tax (V) + (VI) 10,342.24 (70,352.55)
- -
held-for-sale VIII Tax expenses
Total Liabilities 11,44,094.59 12,79,102.54 (1) Current tax 1,969.48 553.59
TOTAL EQUITY AND LIABILITIES 15,43,933.76 16,34,080.79 (2) Deferred tax charge/(credit) 17 9,025.70 (16,238.43)
(3) Income tax for earlier years (513.70) 299.87
The notes on account form an integral part of the financial statements 1 to 51
IX Profit / (Loss) for the year from continuing operations (VII - VIII) (139.24) (54,967.59)
As per our Report of even date X Share of Profit of Associates - -

For M K Dandeker & Co LLP For & on behalf of the Board XI Profit / (Loss) for the year (IX+X) (139.24) (54,967.59)
Chartered Accountants XII Other Comprehensive Income
Firm Regn. No. 000679S / S000103 A (i) Items that will not be reclassified to profit or loss 25 7,154.58 2,879.63
(Dilip Suryavanshi) (Devendra Jain)
Chairman and Managing Director Managing Director and CEO (ii) Income tax relating to items that will not be reclassified to profit or loss 17 (2,502.37) (1,006.22)
DIN: 00039944 DIN: 02374610 B (i) Items that will be reclassified to profit or loss (16.66)

(ii) Income tax relating to items that will be reclassified to profit or loss

(S. Poosaidurai) (Sanjay Kumar Bansal) (Abhishek Shrivastava) XIII Total Comprehensive Income for the year (XI + XII) 4,496.31 (53,094.17)
Partner Chief Financial Officer Company Secretary XIV Profit / (Loss) for the year attributable to
M.No. 223754 Owners of the Parent 93.50 (54,886.61)

Place: Bhopal Place: Bhopal Non Controlling Interest (232.74) (80.97)
Date: 19.05.2023 Date: 19.05.2023 XV Total Comprehensive Income for the year attributable to
Owners of the Parent 4,729.05 (53,013.20)
Non Controlling Interest (232.74) (80.97)
XVI Earnings per equity share (for continuing operations)
(1) Basic 28 (0.10) (37.77)
(2) Diluted 28 (0.10) (37.77)

The Notes on Account form integral part of the Ind AS Financial Statements 1 to 51

As per our Report of even date

For M K Dandeker & Co LLP For & on behalf of the Board
Chartered Accountants
Firm Regn. No. 000679S / S000103
(Dilip Suryavanshi) (Devendra Jain)
Chairman and Managing Director Managing Director and CEO
DIN: 00039944 DIN: 02374610


(S. Poosaidurai) (Sanjay Kumar Bansal) (Abhishek Shrivastava)
Partner Chief Financial Officer Company Secretary
M.No. 223754

Place: Bhopal Place: Bhopal
Date: 19.05.2023 Date: 19.05.2023

318 Annual Report 2023-24 Annual Report 2023-24 319

 Leveraging Strengths. Maximising Outcomes. Corporate Overview Statutory Reports Financial Statements

Consolidated Cash Flow Statement Consolidated Cash Flow Statement

for the year ended 31st March 2023 for the year ended 31st March 2023

(` in Lakhs) Particulars For the year ended For the year ended
Particulars For the year ended For the year ended 31 March 2024 31 March 2023
31 March 2024 31 March 2023 Finance Income due to Unwinding of security deposit 31.71 26.44
A. CASH FLOW FROM OPERATING ACTIVITIES Dividend Paid (146.21) (1,462.15)
Net Profit / (Loss) before Tax as per Statement of Profit and Loss 10,342.24 (70,352.55) NET CASH USED IN FINANCING ACTIVITIES: (TOTAL C) (3,02,774.55) (2,29,505.41)
Adjustments for: Net Increase/(Decrease) of Cash & Cash Equivalents ( A+B+C) (15,678.48) (22,599.70)
Depreciation 39,849.73 39,977.05 Add: Cash & Cash Equivalents at the beginning of the year (inlcuding Other 58,278.81 80,878.52
Interest income (2,671.04) (2,991.48) Bank Balances)
Dividend on InvIT Units (103.22) - Less: Other Bank balances not forming part of Cash and Cash Equivalent 22,804.61 23,984.21
Finance Income due to Unwinding of security deposit (31.71) (26.44) Cash & Cash Equivalents at the end of the period 19,795.71 34,294.60
(Profit)/Loss on Sale of Fixed Assets (1,205.67) - Closing Cash and Cash Equivalents
Interest Expense 90,136.36 1,05,696.17 Cash in Hand 416.27 562.43
Provision for Doubtful Debts (net) (18,641.81) 3,873.53 Other Bank Balances
Provision for Doubtful Advance 5.00 Bank Balance with Scheduled Banks
Bad debts written off 21,372.29 in Current Account 5,988.62 8,858.28
Remeasurements gains /( losses) on post-employment benefits 7,154.58 2,879.63 in Fixed Deposit Account 51,672.53 58,191.04
Loss on sale of Investment - 247.49 Less: Fixed Deposits having maturity more than a year shown under Other 15,483.01 9,335.88
Exceptional items - (Profit)/Loss on Sale of Subsidiary companies (37,873.20) 5,779.60 Financial Assets ( Refer Note 7)
Provision for Major Maintenance - 2,883.68 Less: Fixed Deposits having maturity more than a year shown under Other 22,798.70 23,981.27
Financial Assets ( Refer Note 7)
Provision for impairment - 1,017.78
19,795.71 34,294.60
Operating Profit Before Working Capital changes 1,08,333.55 88,984.45
Working Capital Changes: The Notes on Account form integral part of the Ind AS Financial Statements
(Increase)/Decrease in Current and Non- Current Assets 82,478.81 1,07,711.75
As per our Report of even date
Increase/(Decrease) in Current and Non Current Liabilities 71,958.12 (19,103.08)

Increase/(Decrease) in Provisions 5,556.69 2,760.66 For M K Dandeker & Co LLP For & on behalf of the Board
Cash generated from operations 2,68,327.17 1,80,353.77 Chartered Accountants
Firm Regn. No. 000679S / S000103
Income tax paid 16,190.07 (17,983.53)
(Dilip Suryavanshi) (Devendra Jain)
NET CASH GENERATED FROM OPERATING ACTIVITIES (TOTAL A) 2,84,517.24 1,62,370.24 Chairman and Managing Director Managing Director and CEO
DIN: 00039944 DIN: 02374610

B. CASH FLOW FROM INVESTMENT ACTIVITIES:
Purchase of Fixed Assets (including movement in Capital WIP) (3,91,622.04) (3,98,363.82) (S. Poosaidurai) (Sanjay Kumar Bansal) (Abhishek Shrivastava)
Partner Chief Financial Officer Company Secretary
Sale of Fixed Assets (including movement in Capital WIP) 4,52,623.32 4,34,279.97
M.No. 223754
Purchase of Investment (81,914.54) -
Place: Bhopal Place: Bhopal
Interest Received 2,671.04 2,991.48
Date: 19.05.2023 Date: 19.05.2023
Dividend on InvIT Units 103.22 -
Sale of Investments 20,717.83 5,627.83
NET CASH USED IN INVESTING ACTIVITIES (TOTAL B) 2,578.83 44,535.46

C. CASH FLOW FROM FINANCING ACTIVITIES:

(Repayment) / Proceeds of / from Equity - 50,079.69
Repayment of Long Term Borrowings (net) (2,00,272.70) (1,04,464.60)
Repayment of Short Term Borrowings (net) 18,322.78 (59,719.21)
Repayment of Current Maturities of Long Term Borrowings (net) (30,573.77) (8,269.41)
Interest paid (90,136.36) (1,05,696.17)

320 Annual Report 2023-24 Annual Report 2023-24 321