| 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.
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