ANNUAL

REPORT
2016-2017

CONTENTS

Notice to Shareholders 05

Directors Report 08

Auditors Report 26

Balance Sheet 32

Statement of Profit and Loss 33

Cash Flow Statement 34

Consolidated Financial Statements 59

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 ANNUAL
REPORT
2016-2017

CIN : U45209KL2007PLC020471
Registered Office : 2nd Floor, Ajiyal Complex, Post Office Road, Kakkanad, Kochi - 682030

CHAIRMAN
Shri A C Moideen
Hon’ble Minister (Industries, Textiles, Sports & Youth Affairs)
Government of Kerala

DIRECTORS
Shri Paul Antony IAS
Additional Chief Secretary (Industries & Power)

Shri Varghese Kurian

Managing Director, ALNAMAL Group

Shri C.K. Menon
Chairman & MD, Behzad Group

Shri C.V. Rappai

Director & GM, Video Home

Shri Mohamed Althaf

Regional Director, Lulu Group

Shri M M Abdul Basheer

Managing Director, IGCL

Smt M Beena IAS

Managing Director, KSIDC

Shri P Nandakumaran
Former Managing Director, SBT

Smt. Pamela Anna Mathew

Managing Director, OEN India Ltd

Managing Director
Shri T. Balakrishnan

Company Secretary
Shri K. Padmadasan

Statutory Auditors
M/s. Varma & Varma Chartered Accountants, Cochin

Bankers
State Bank of India, Federal Bank Ltd.

4

NOTICE
Notice is hereby given that the Tenth Annual General Meeting of the members of the company will be held on
Friday, the 25th August, 2017 at 10.30 a.m. at Grand Hotel, Jos Junction, M.G. Road, Cochin to transact the
following business:
ORDINARY BUSINESS
1. To receive, consider and adopt Audited Financial
Statements of the Company for the Financial Year
ended 31st March, 2017 including the Balance Sheet
and Statement of Profit & Loss for the year ended
on that date and Cash Flow Statement and the
Consolidated Financial Statements and the Reports
of the Board of Directors and Auditors thereon.
2. To declare dividend on Equity Shares.
3. To appoint a Director in place of Mr. Varghese
Kurian (DIN – 01114947) who retires by rotation
and being eligible offers himself for re-appointment.
4. To appoint a Director in place of Mr. Mohamed
Althaf (DIN – 06409935) who retires by rotation
and being eligible offers himself for re-appointment.
5. To consider and, if thought fit, approve with or
without modification (s) the following resolution as
an Ordinary Resolution:
RESOLVED THAT, pursuant to Sections 139, 142
and other applicable provisions of the Companies Act
2013 and the Rules made there under, as amended
from time to time, pursuant to the resolution passed
by the members at the AGM held on 26.08.2015
and recommendations of the Board of Directors,
the appointment of Varma & Varma, Chartered
Accountants (Firm Registration No.004532S) as
Auditors of the Company to hold office from the
conclusion of this Annual General Meeting (AGM) till
the conclusion of the 11th Annual General Meeting
of the Company to be held in the year 2018 be and
is hereby ratified and that the Board of Directors be
and is hereby authorized to fix the remuneration
payable to the Auditors for the financial year ended
31.03.2018 as may be determined by the Board in
consultation with the Auditors.
SPECIAL BUSINESS
Election of Director
6. To consider and if thought fit approve with or
without modification(s) the following as an Ordinary
Resolution:
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ANNUAL
REPORT
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RESOLVED THAT pursuance to Section 152 and
other applicable provisions, if any, of the Companies
Act, 2013 read with Companies (Appointment and
Qualification of Directors) Rules, 2014 (including
any statutory modification(s) or enactment(s) thereof
for the time being in force) Mr. C K Menon (DIN –
01955233) who was appointed as an Additional
Director with effect from 16.12.2016 by the Board
of Directors of the Company and who in terms of
Section 161 of the Companies Act, 2013 holds office
upto the date of this Annual General Meeting and in
respect of whom the Company has received a notice
in writing from a member under section 160 of the
Companies Act 2013 proposing his candidature for
the office of director be and is hereby appointed as
a Non-Executive Director of the Company, liable to
retire by rotation.
Terms of Appointment of Managing
Director
7. To consider and if thought fit approve with or
without modification(s) the following as a Special
Resolution:
RESOLVED THAT pursuant to the provisions of
Section 197, 198 and 203 read with Schedule V and
other applicable provisions, if any, of the Companies
Act 2013 including any statutory modification or re-
enactment thereof, or any other law and subject to
such consent(s), approval(s) and permission(s) as
may be necessary in this regard and subject to such
conditions as may be imposed by any authority
while granting such consent(s), approval(s) and
permission(s) and as are agreed by the Board/
Committee of Directors, consent of the Company be
and is hereby accorded to the appointment of Mr. T
Balakrishnan as Managing Director of the company
from 01.04.2017 to 31.07.2017 or until further
orders from the Government whichever is earlier, on
the same terms of appointment as hither to.
By Order of the Board
Sd/-
30.06.2017 K Padmadasan
Kochi Company Secretary

Notes:
1. A member entitled to attend and vote at the
Annual General Meeting (the “Meeting”) may appoint
a proxy to attend and vote on a poll instead of himself
and the proxy need not be a member of the Company.
The instrument appointing the proxy should,
however, be deposited at the registered office of the
Company not less than forty-eight hours before the
commencement of the Meeting. Form of proxy is
attached at the end of the Annual Report.
A person can act as a proxy on behalf of members
not exceeding fifty and holding in the aggregate not
more than ten percent of the total share capital of the
Company carrying voting rights. A member holding
more than ten percent of the total share capital of the
Company carrying voting rights may appoint a single
person as proxy and such person shall not act as a
proxy for any other person or shareholder.
2. A Statement pursuant to Section 102(1) of the
Companies Act, 2013, relating to the Special
Business to be transacted at the Meeting is annexed
hereto.
3. Members are requested to hand over the
enclosed attendance slip, duly signed in accordance
with their specimen signature (s) registered with the
Company for admission to the meeting hall where
the Annual General Meeting is proposed to be held.
4. Dividend recommended by the Board of Directors,
if approved by the members at the Annual General
Meeting will be paid within the time limit specified
in the Act to those members whose names appear
on the Company’s Register of Members as on
24.08.2017.
5. Members may note that dividends not
encashed or claimed within seven years and 30
days from the date of declaration of the dividend,
will, as per Section 124 read with Section 125 of
the Companies Act, 2013, be transferred to the
Investor Education and Protection Fund of
Government of India. A few members have not
encashed their dividend pertaining to the
dividend declared for the financial year ended
31st March, 2014, 31st March, 2015 and 31st
March, 2016. Details of the unclaimed/unpaid
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ANNUAL
REPORT
2016-2017
dividend are also uploaded on the company’s
website www.inkel.in. Members who wish
to claim dividends, which remain unclaimed, are
requested to correspond with the company.
6. Members, who have not registered their e-mail
addresses so far, are requested to register their
e-mail address for receiving all communication
including Annual Report, Notices, Circulars, etc.
from the Company electronically.
7. As a measure of austerity, copies of the Annual
Report will not be distributed at the Annual General
Meeting. Members are therefore requested to bring
their copies of the Annual Report to the Meeting.
8. The route map showing the directions to reach
the venue of the 10th Annual General Meeting is
given in page no. 102
9. All documents referred to in the notice are
open for inspection at the Registered Office of the
Company on all working days between 10.00 am
to 01.00 pm up to and inclusive of the date Annual
General Meeting.
STATEMENT PURSUANT TO SECTION
102(1) OF THE COMPANIES ACT, 2013
(“the Act”)
The following Statement sets out all material facts
relating to the Special Business mentioned in the
accompanying Notice:
Item No.6
Mr. C K Menon was appointed as an Additional
Director on 16.12.2016 by the Board of Directors of
the company. According to the provisions of Section
161 of the Companies Act, 2013, he holds office as
director only up to the date of the ensuing Annual
General Meeting. As required by Section 160 of the
Act, a notice has been received from a member
signifying his intention to propose appointment of
Mr. C K Menon as a Director along with a deposit
of specified amount as mentioned in the Section.
The Board considers it desirable that the company
should continue to avail itself of his services.
Except, Mr. C K Menon, no other Directors of the
company are concerned or interested in the proposed
resolution.

Item No.7
Govt. of Kerala vide G.O (Rt) No.1149/2016/ID
dated 01.11.2016 stated that Mr. T Balakrishnan
will continue as Managing Director INKEL until a
new officer is appointed. Since the order has not
specified a duration, for the purpose of compliance,
the company has appointed Mr. T Balakrishnan as
Managing Director for a period from 01.11.2016
to 31.03.2017 or until further orders from the
Government whichever is earlier. Since no orders
have been issued so far on the strength of the G.O
(Rt) No.1149/2016/ID dated 01.11.2016 that Mr. T
Balakrishnan will continue as Managing Director
INKEL until a new officer is appointed, he has
continued as Managing Director beyond 31.03.2017.
The Board of Directors at its meeting held on
23.06.2017, for compliance purpose, regularise his
appointment and extended upto 31st July, 2017 or
until a new Officer is appointed, whichever is earlier.
In accordance with provisions of Section 169 of the
Companies Act, 2013 appointment of Managing
Director requires approval of the members.
The information as required under Clause (iv)
of Section II of Part II of the Schedule V of the
Companies Act, 2013 is furnished below:
General Information
INKEL is a Public- Private Partnership venture
promoted by Government of Kerala in the year 2007.
The company was established with its objects to
promote, setup, operate maintain, sell or otherwise
deal in all or any infrastructure facilities, projects
and ventures including but not limited to Special
Economic Zones, Industrial Parks or Estates, roads
rail and other transport facilities and all or any
related infrastructure facilities.
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ANNUAL
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Information about the Appointee
Background details:
Mr. T Balakrishnan, a post graduate in Political
Science & International Relations joined the Indian
Administrative Services in 1980 and held the
positions of District Collector, Thiruvananthapuram,
Regional Director America Govt. of India Tourist
Office New York, Deputy Director General Ministry
of Tourism Govt of India, New Delhi (1995-
99), Secretary, Local Self Govt. Dept., Urban
Development Dept., Secretary, Culture & Chairman,
Kerala Water authority (1999-01), Secretary, Tourism
and Cultural affairs Department (2001-04), Excise
Commissioner (2004-05) and retired as additional
Chief Secretary on 31.10.2011.
Remuneration proposed:
1. An annual remuneration of Rs. 36,00,000/-
(Rupees Thirty Six Lakhs)
2. Gratuity not exceeding 15 days salary for every
year of completed service.
3. Encashment of unavailed leave, limited to 30
days per year of service or proportionate thereof.
4. Medical reimbursement, as available to an
employee of the company.
None of the other Directors of the Company are in
any way concerned or interested in this resolution.
Other Information
Reasons for loss or inadequate profits: The profit
generated this year is fell short of our expectation.
However since several projects are on hand, the
profitability is likely to register a much higher graph.
Disclosure
The shareholders of the Company shall be informed
of the remuneration package of the managerial
person and in compliance of this; the relevant
information has been given at the appropriate place.
 ANNUAL
REPORT
2016-2017

BOARD’S REPORT
Dear Members,

The Board of Directors are happy to present this Report on the business and operations of your company for
the Financial Year ended 31st March 2017.
Operational Results
Rs in lacs
PARTICULARS
INCOME 2016-2017 2015-2016
Sub Lease 1,093.84 2,494.99
PMC 700.63 241.77
Interest 697.94 911.36
Solar Business 678.99 -
Other Income 486.31 338.55
TOTAL (A) 3,657.71 3,986.66
EXPENSE
Cost of Lease 592.04 1,166.25
Solar Expense 637.56 -
Other Operating Expense 208.88 41.11
Other Expense 1,206.36 846.82
TOTAL (B) 2,644.84 2,054.17
PBT (A) - (B) 1,012.87 1,932.49
TAX EXPENSE 283.97 671.03
PAT 728.90 1,261.46

Dividend
The Board at its meeting held on 23.06.2017 has
recommended a dividend of 30 paise per equity
share of Rs. 10/- each for the financial year ended
31st March 2017. The proposal is subject to the
approval of shareholders at the ensuing Annual
General Meeting (AGM) to be held on 25th August
2017.
Share Capital
During the current year, there has been no change
in the capital structure. The present paid up capital
of the company is Rs. 1,63,02,70,000/- divided into
163027000 equity shares of Rs. 10/- each.
Operations
BRIDGE PROJECTS
Seguro-Inkel LLP has successfully completed two
bridge projects and three are in different stages
of progress. Both the projects are landmarks since
the one at Alwaye, across Periyar, is basically a
foot overbridge but is meeting the requirement of
lakhs of pilgrims every year, who were dependent
on wooden temporary bridges or country boats.
The other one provides a second new connection
from the Willingdon Island to the western side of
the Kochi City and facilitates easier access to the
coastal areas of Ernakulam and Alleppey Districts.
Three Bridge Projects are currently under execution
and these are expected to be completed during the
current financial year.
With the success in bridge construction, the LLP
is now executing two building projects, with a
combined project cost of Rs.8.76 Crores for
Government of Kerala. In parallel, the LLP is also
bidding for bridge projects now being tendered for.

8

ROAD PROJECTS
INKEL-EKK Roads Private Limited is now executing
58 km State highway/MDR project in Trivandrum
and Kottayam Districts, with a total project cost of
Rs. 162 Crores under PPP annuity mode.
The Project is making brisk progress and is
scheduled to be completed in August, 2018.
CONTAINER FREIGHT STATION
The Contract between MIV Logistics Private Limited
and APM Terminals India Private Limited, for
operation and management of the Container Freight
Station, Vallarpadam, was terminated with effect
from the 31st of December, 2016. The tie up, even
after two years, was found to be neither beneficial
nor remunerative to MIV.
The CFS is now run directly by MIV, with managerial
support from the Company, for day to day operations.
The Unit has now started performing better and,
hopefully, by the end of this Financial Year, it may
turn the corner.
The Company has made investments of almost
thirty Crores of rupees in this project and no efforts
will be spared to make this project profitable.
CITY CENTRE, TRIVANDRUM
Work on this long delayed project will finally
commence this year. Clearance from the City
Corporation was pending as the project land
happened to be in the industrial category due to
historic reasons. This issue has now been solved
by the Government. This project with an estimated
project cost of Rs.42 Crores, is a commercial
building, at Thampanoor, with 2 lac square feet of
space.
CONSULTANCY & PMC
The Company registered significant gains in
Consultancy and Project Management Consultancy.
Several prestigious projects have been awarded to
the Company by the Government of Kerala and
Government organizations like KINFRA.
The company is currently executing PMC for Defence
Park Project at Ottapalam, Mega Food Park at
Palakkad – Electrical Consultancy, Coir Corporation
and Pollution Control Board/Chandiroor ETP
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ANNUAL
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The company has received orders from Government
according Administrative Sanction for executing four
hospital Projects for the Health Department of Govt
of Kerala. This include (i) Construction of Cancer
Hospital and Research Institute at Medical College
Campus, Kochi (ii) Development of Govt Medical
College, Ernakulam (iii) Govt General Hospital,
Ernakulam and (iv) Govt Taluk Hospital, Punalur.
Government has entrusted INKEL with construction
of 55 treasuries across the State with budgetary
provision of Rs.150 cr. Report for 25 treasuries is
already submitted and administrative sanction is
issued for 10 nos.
The total project cost for the PMC services is Rs.125
crores and the income to the company shall be 3.75
percentage of the project cost.
The total value of hospital projects will be Rs 865
Crores to be implemented in a span of three years.
The income to the Company shall be the Centage
- 3.5% for projects above 100 Cr and 3.75% for
projects below 100 Cr - for executing the above
Projects. A detailed plan of action for execution of
the project with detailed budget is under preparation.
SOLAR ENGINEERING
We started Solar vertical with a Vision to make INKEL
a leading EPC integrator for Implementing Solar
projects across the country. We provide street light
systems and roof top solutions using solar panels.
During the year under review the company bagged
a project for laying 1115 Nos. 78W Solar Street
lights along the Thodupuzha – Pala - Ponkunnnam
road with a project cost of Rs. 8 crores. This project
is almost complete.
We have also installed 9 Nos. of High Mast Lighting
System at Kongad constituency having project
value Rs. 72 lakhs. The company has also bagged
the order for installation of 800Nos. 60W Solar
Street light system along Chengannur - Ettumanoor
Road at a project cost of around Rs. 4 crores. We
are also doing 10kWp Grid Tie SPV Plant for a client
at Angamaly.
FACILITIES MANAGEMENT
We are now carrying out the Facility Management
of Tower 1 and Tower 2 at Angamaly and intend
to show case this to the public as a testimony to

our expertise in this area. We have implemented
mechanized cleaning process to maintain the
property towards high levels of standard. Facilities
Management of SDS – BPCL, KSIDC Incubation
Centre, Angamaly has been entrusted with INKEL
Care. INKEL Care has now taken-up the Integrated
Facilities Management of MIV and Inkel Green.
AGRI BUSINESS
It is our policy to utilise productively available land
parcels till the time the projected developments
are taken up. Towards this objective, we have
constructed poly houses at Malappuram, Piravam
and Palakkad where the Company is in possession
of lands both owned or leased. The agricultural
assets at Palakkad are looked after and these have
started earning revenue to the Company at least on
a smaller scale.
INKEL BUSINESS PARK
Fifty percent of the total space at INKEL Tower II
has been leased out. The company is aggressively
moving forward with one to one meetings as well
as meetings with trade bodies and associations
for leasing of the remaining area. IBP has almost
accomplished the objective for which it was set up.
Within a short span of time, the Park is brimming with
activities of different nature, all aiding the industrial
growth and national resources. More than 75 per
cent of the available space has been leased out and
the ongoing discussions for leasing are likely to see
full occupation of the space much before the end of
this Financial Year.
The Park has already become a known destination
and this is bound to aid further developments which
are planned in the coming months and years in over
23 acres of land at Angamali.
INKEL GREENS
At INKEL Greens Malappuram, 45 acres has
already been allotted. 5 educational institutions and
26 industrial units have taken land on lease of which
some have started functioning and others are in
various stages of implementation.
In the Education Zone, INKEL NTTF Training Center
is fully functional in 40,000 sq.ft. area offering 100%
job oriented diploma programs to around 500
students, every year.
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ANNUAL
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Loans. Guarantees . Investments
Being a company engaged in the business of
providing infrastructure facilities, provisions of
Section 186 is not applicable to the company.
However loans, guarantees or investments covered
under the Section form part of the notes to the
financial statements provided in this Annual Report.
Fixed Deposits
The Company, during the year, for the first time,
went for a public exposure in finance mobilization.
The Public Deposit Scheme which was kept open
for a short period of 25 days, mobilised nearly Rs.10
Crores. This instrument of finance mobilization will
be put to use in the future, when the requirements
arise.
There is no outstanding deposit at the end of the
year and the company has not made any default
in repayment of deposits or payment of interest
thereon during the year.
Contracts or arrangements made with
related parties
During the year under review, the company has not
entered into any contracts or arrangements with
related parties referred to in Section 188 (1) of the
Companies Act, 2013
Material change and commitments
affecting financial position
There have been no material changes or commitment
affecting financial position of the company between
the end of the financial year and date of the Report.
Subsidiaries & Associates
As on 31st March, 2017, the company has 6
subsidiaries and 2 associates. The consolidated
financial statements of the company and the
subsidiaries, form part of this Annual Report in
accordance with Section 129(3) of the Companies
Act 2013. Further a statement containing the
salient features of the financial statements of our
subsidiaries /associates in the prescribed format
AOC -1 is appended as Annexure – 1 to this Report.
In accordance with Section 136 of the Companies
Act 2013, the audited financial statements,
including the consolidated financial statements and
related information of the company and the audited

accounts of the subsidiaries are available on our
website www.inkel.in.
Corporate Governance
Corporate Governance Report for the FY 2016-17
forms part of this report.
Number of meetings of the Board
The Board met 5 times during the financial year,
the details of which are given in the Corporate
Governance Report. The maximum interval between
any two meetings did not exceed 120 days, as
prescribed in the Companies Act 2013. Specific
details of the meetings are provided in the Corporate
Governance Report which form part of this Annual
Report.
Directors and Key Managerial Personnel
Appointments
Chairman
Shri A C Moideen, Hon’ble Minister (Industries,
Textiles, Sports & Youth Affairs), Govt. of Kerala
was appointed as the Chairman of the company on
16.12.2016 in the place of Shri E.P.Jayarajan, the
former Hon Minister (Industries & Sports).
GoK Nominee
Shri Paul Antony IAS, Additional Chief Secretary
(Industries & Power), nominee of Govt of Kerala,
was appointed as a Director on 16.12.2016 in the
place of Shri P H Kurian IAS, the former Additional
Chief Secretary (Industries).
Independent Directors
Mr. P Nandakumaran and Mrs. Pamela Anna Mathew
were appointed as Independent Directors of the
company for a period of two years, by the members
at the Extra Ordinary General Meeting held on
27.03.2015 under section 149(10) of the Companies
Act; these appointments however are subject to
provisions of section 152 of the Companies Act. Mr.
P Nandakumaran and Mrs. Pamela Anna Mathew,
were reappointed as Independent Directors at the
Extra Ordinary General Meeting held on the 27th
March, 2017, for a further period of 2 years.
Independent Directors, can be appointed for a
consecutive term of five years under section 149(10)
of the Companies Act. Since the appointments are
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ANNUAL
REPORT
2016-2017
governed by the overall provisions of Section 152 of
the Companies Act, the Company has followed the
pattern of two years + two years, below the term of
5 years stipulated under the Act.
The company has received necessary declaration
from each Independent Director under Section 149
(7) of the Companies Act, 2013 stating that he/she
meets the criteria of independence as provided in
sub-section (6) of the Act.
Resignation
During the Year, Shri Siddeek Ahmed Haji
Panamtharayil Director, resigned from the Board.
The Board place on record its appreciation of the
valuable contribution by Shri Siddeek Ahmed Haji
during his association, which dates back to the
formative years, with the Company.
Re-appointment
Mr C K Menon was appointed, as Additional Director
pursuant to Section 161(1) of the Companies Act
2013, by the Board on 16.12.2016, after a short
gap during which he ceased to be a Director on his
resigning from the Board.
Your Directors recommend his appointment as Non-
Executive Director of your Company pursuant to the
provisions of Section 152 of the Companies Act,
2013 read with the Companies (Appointment and
Qualification of Directors) Rules, 2014.
Mr. Varghese Kurian and Mr. Mohamed Althaf are
liable to retire at the ensuing Annual General Meeting
pursuant to the provisions of Section 152 of the
Companies Act, 2013 read with the Companies
(Appointment and Qualification of Directors) Rules
2014 and the Articles of Association of your Company
and being eligible, have offered themselves for
reappointment.
Appropriate resolutions for their re-appointment are
being placed for your approval at the ensuing Annual
General Meeting. Your Directors recommend their
reappointment as Non-Executive Directors of your
Company.
Key Managerial Personnel
In accordance with the provisions of Section 203
of the Companies Act 2013 read with Companies
(Appointment and Remuneration of Managerial

Personnel) Rules 2014, Shri T Balakrishnan,
Managing Director, Shri K Padmadasan, Company
Secretary and Shri George Raphael, General
Manager (Finance & Accounts) are the key
managerial personnel of your Company.
Committees of the Board
As on 31st March, 2017, the Board has 4 committees :
the Audit Committee, Nomination & Remuneration
Committee, Corporate Social Responsibility
Committee and Share Transfer Committee. All the
committees are duly constituted.
Internal financial control and its adequacy
The Board has adopted policies and procedures
for ensuring the orderly and efficient control of its
business.
Significant and Material Orders
There are no orders passed by the regulators or
courts or tribunals impacting the going concern
status and company’s operations in future.
Extract of Annual Return
In accordance of Section 134(3)(a) of the
Companies Act, 2013 an extract of Annual Return
in the prescribed format is attached as Annexure to
this Report.
Directors Responsibility Statement
Your Directors state that:
a) in the preparation of the annual accounts for
the year ended March, 31, 2017, the applicable
accounting standards read with requirements
set out under Schedule III to the Act, have been
followed and there are no material departures from
the same;
b) the Directors have selected such accounting
policies and applied them consistently and made
judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state
of affairs of the Company as at March 31, 2017 and
of the profit and loss of the Company for the year
ended on that date;
c) the Directors have taken proper and sufficient
care for the maintenance of adequate accounting
records in accordance with the provisions of the
Act for safeguarding the assets of the Company and
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ANNUAL
REPORT
2016-2017
for preventing and detecting fraud and other
irregularities;
d) the Directors have prepared the annual accounts
on a going concern basis;
e) the Directors have laid down internal financial
controls to be followed by the Company and that such
internal financial controls are adequate and are
operating effectively; and
f) the Directors have devised proper systems to
ensure compliance with the provisions of all
applicable laws and that such systems are adequate
and operating effectively.
Audit Report and Auditors
Audit Report
The Auditors Report for the FY 2016-17 does not
contain any qualification, reservation or adverse
remarks. The Auditors Report is enclosed with the
financial statements in this report.
With regard to the Secretarial Auditors’ observation
that the company has not spent the entire amount
on CSR, there is only a negligible shortfall in the
overall expenditure on CSR activities vis-a-vis the
amount representing 2% of the average profit in the
last three years, for lack of projects which will benefit
large group of people. This amount will be earmarked
for spending during the current financial year.
Auditors
Statutory Auditors
At the Annual General Meeting held on 26th August
2015 M/s. Varma & Varma Chartered Accountants
were appointed as the Statutory Auditors of the
company to hold office till the conclusion of the
Annual General Meeting to be held in the year 2019.
The appointment of M/s. Varma & Varma Chartered
Accountants, as Statutory Auditors of the company,
for the Financial Year 2017-2018 is placed for
ratification by the shareholders, pursuant to Section
139 of the Companies Act, 2013.
Secretarial Auditors
As required under Section 204 of the Companies
Act, 2013 and rules thereunder, the Board has
 ANNUAL
REPORT
2016-2017

appointed Mr. T R Sreeram, Practicing Company and outgo, as required to be disclosed under the
Secretary, as secretarial auditor for FY 2017-18. Act, are provided in Annexure to this Report.

Corporate Social Responsibility (CSR) Your Directors further state that during the year
INKEL through its Corporate Social Responsibility under review, there were no cases filed pursuant
initiatives shall strive to enrich the quality of life to the Sexual Harassment of Women at Workplace
in different segments of the society. The Annual (Prevention, Prohibition and Redressal) Act, 2013.
Report on the CSR activities is annexed to the
Board’s Report. Acknowledgment
Your Directors would like to express their sincere
Conservation of Energy, Technology appreciation for the assistance and co-operation
Absorption and Foreign Exchange received from the financial institutions, banks,
Earnings and Outgo Government authorities, customers, vendors and
The particulars relating to conservation of energy, members during the year under review.
technology absorption, foreign exchange earnings
For and on behalf of the Board of Directors

sd/- sd/-
23.06.2017 T Balakrishnan M M Abdul Basheer
Kochi Managing Director Director

13
 ANNUAL
REPORT
2016-2017

Statement containing salient features of the financial statement of subsidiaries /

associate companies / joint ventures
FORM NO. AOC – 1
Part “A” : Subsidiaries Rs in lacs
Sl Name of Financial Share Reserves Total Total li- invest- Turnover Profit Provi- Profit Pro- % of
No. subsidiary period capital & Surplus assets abilities ments before sion for after posed holding
ended taxation taxation taxation dividend
1 INKEL- 31.03.2017 1600 (13.07) 5372.40 3785.47 - 6.11 (13.07) - (13.07) - 51
EKK
Roads
Pvt Ltd
2 INKEL-KSIDC 31.03.2017 2476.14 (1045.20) 5035.88 3604.95 - 285.34 (380.47) (37.05) (343.36) - 74
Projects Ltd
3 INKES 31.03.2017 500 (46.24) 737.16 283.40 - 3.23 (7.03) - (7.03) - 74
Trade
Centre
Ltd
4 INKE-KINFRA 31.03.2017 10 (143.51) 68.66 202.17 - - (3.09) - (3.09) - 74
Infrastructure
Projects Ltd
5 Thalikulam 31.03.2017
Pura Pvt Ltd
6 Tirurangadi 31.03.2017
Pura
Pvt Ltd
Notes:
1. Sl. No. (3) is yet to commence operations.
2. Sl. No. (5) and (6) under dormant status.
3. Name of subsidiary which have been liquidated or sold during the year :NIL

Part “B” : Associates & Joint Ventures Amount in Rs.

Name of Associate / joint Venture MIV Logistics Private Limited Seguro-INKEL Consortium LLP
Latest audited Balance Sheet Date 31.03.2017 31.03.2017
Shares of Associate/joint venture
held by the company on the year end : 1,18,29,714 -
No: 11,82,97,140 4,50,000
Amount of Investment: 39.43% 45%
Extend of holding
Description of how there is Controls more than 20% of Controls more than 20% of total
significant influence total share capital share capital
Reason why associate/joint
venture is not consolidated NA NA
Net worth attributable to shareholding
as per latest audited Balance Sheet 5,89,25,390 99,89,870
Profit/Loss for the year
i. considered in consolidation - 50,69,036
ii. not considered in consolidation (3,20,12,237) 50,69,037

Notes:
1. Name of associate which is yet to commence operation : NIL
2. Name of associate which have been liquidated or sold during the year :NIL

14

ANNUAL REPORT ON CSR ACTIVITIES
(Pursuant to Section 135 of the Companies Act, 2013)
INKEL is committed to ensuring the social well being
of the communities in the vicinity of its business
operations through Corporate Social Responsibility
(CSR) initiatives.
The Company believes in conducting its business
responsibly, fairly and in a most transparent manner.
It continually seeks ways to bring about an overall
positive impact on the society and environment
where it operates and as a part of its social
objectives.
CSR Committee:
The Corporate Social Responsibility (CSR)
Committee of the Board is responsible for overseeing
the execution of company’s CSR policies. The
members of the CSR Committee are :
Shri Varghese Kurian Govt. L.P School Cotton Hill, Vazhuthacaud,
Shri M M Abdul Basheer
Shri Nandakumaran P
The financial details as sought by the Companies
Act, 2013 for FY 2016-17 are as follows:
Rs. in lacs
Particulars Amount
Average net profit of the company
for last three years 1195
Prescribed CSR expenditure
(2% of the average net profit as 23.91
computed above)
Details of CSR spent during the financial year:
a) Re-construction of a Road at Vadakarapathy
Panchayath
We have sponsored re-construction of a Road at
Vadakarapathy Panchayath, Palakkad District. The
15
ANNUAL
REPORT
2016-2017
Road connects Kalliyampara to Health Centre road,
located in a high density area which is near to the
land parcels acquired by us at Palakkad. The road
constructed at a cost of Rs.13.85 lakh benefits a large
number of rural populace.
b) Individual/Community toilets under
Rural Kerala Open Defecation Free (ODF) Mission
We have participated in the Rural Kerala Open
Defecation Free (ODF) Mission of the Govt. of Kerala.
We have adopted Vadakarapathy Panchayat,
Palakkad District, where we have land holding of
roughly 120 acres, for providing Individual/
Community toilets. We have constructed 24 toilets
at various places in the Panchayath at a cost of
Rs.7.2 lakh.
c)
Initiative of Govt. L P School Trivandrum
Thiruvananthapuram has conducted an initiative
called ‘Cotton Colour Creative’. The theme is drawal
of pictures on different themes on classroom walls.
We have participated in this by adopting one
classroom with an expenditure of Rs.1.50 lakh.
In case company has failed to spend 2%
of average net profit of the last 3 years,
reasons for the same:
There is only a negligible shortfall in the overall
expenditure on CSR activities vis-a-vis the amount
representing 2% of the average profit in the last three
years, for lack of projects which will benefit large
group of people. This amount will be earmarked for
spending during the current financial year.
Responsibility statement of the CSR Committee:
It is hereby affirmed that the CSR Policy, as approved
by the Board, has been implemented and the CSR
Committee monitors the implementation of the
project in compliance with our CSR objectives.
 ANNUAL
REPORT
2016-2017

CORPORATE GOVERNANCE REPORT

1. Company’s philosophy on Corporate Governance
The Company’s philosophy of Corporate Governance is oriented towards achieving efficient conduct of its
business, meeting its obligations to stakeholders with transparency, accountability and integrity as the
pillars.

2. Board of Directors
i. Composition and size of the Board as on 31.03.2017
The present strength of Board of Directors is 11. The details of the directors as at March 31, 2017 is given below:

Name of Director Type of Directorship

Shri A C Moideen Chairman, GoK Nominee
Shri T Balakrishnan Managing Director, GoK Nominee
Shri Paul Antony IAS Non Executive Director, GoK Nominee
Shri C.K.Menon Non Executive Director
Shri Varghese Kurian Non Executive Director
Shri C.V.Rappai Non Executive Director
Shri Mohamed Althaf Non Executive Director
Shri M M Abdul Basheer Non Executive Director
Smt. M Beena IAS Non Executive Director
Shri P Nandakumaran Independent Director
Smt. Pamela Anna Mathew Independent Director

ii. Board, General Meetings & Attendance

The details of attendance of the directors at the Board and Annual General Meeting are given below:

Name of Director No. of Meetings held No. of Meetings Presence at the
during the period attended last AGM
the Director was
on the Board
Shri A C Moideen 2 2 -
Shri T Balakrishnan 5 5 YES
Shri Paul Antony IAS 2 1 -
Shri C.K.Menon 2 1 -
Shri Varghese Kurian 5 2 -
Shri C.V.Rappai 5 5 YES
Shri Mohamed Althaf 5 4 YES
Shri M M Abdul Basheer 5 5 YES
Smt. M Beena IAS 5 2 -
Shri P Nandakumaran 5 4 YES
Smt. Pamela Anna Mathew 5 3 YES

16

3. Internal Audit And Compliance
The Company conducts its internal audit and
compliance functions within the parameters of
regulatory framework. The internal audit function is
being carried out by an external firm of chartered
accountants and their quarterly reports are
reviewed on quarterly basis by the Audit Committee,
which issues appropriate recommendations and
directions as may be necessary.
The Audit Committee reviews the performance of the
audit and compliance functions, the effectiveness of
controls and compliance with regulatory guidelines
and gives such directions to the Management as
necessary/considered appropriate.
ANNEXURE-II
Conservation of energy
The operations of the Company involve low energy
17
ANNUAL
REPORT
2016-2017
consumption. Adequate measures have however
been taken to conserve energy.
The Company has developed a Solar Energy wing
and is contributing to the renewable energy
generation efforts of the Government.
Technology absorption, adaptation and innovation
The Company uses the latest technologies for
improving the productivity of its human resources
and quality of its services.
Foreign Exchange Earnings & Outgo
There was no foreign exchange earnings and outgo
during the year under report.
 ANNUAL
REPORT
2016-2017

FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN
As on financial year ended on 31.03.2017
Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the
Companies (Management & Administration) Rules, 2014

I. REGISTRATION & OTHER DETAILS:

1 CIN U45209KL2007PLC020471
12 CIN
Registration Date U45209KL2007PLC020471
09.03.2007
23 Registration
Name of the Date
Company 09.03.2007
INKEL Limited
3 Name of the Company
Category/Sub -category INKEL Limited
4 Closely held public Company limited by shares
Category/Sub
of the Company -category
4 Closely held public Company limited by shares
of the Company Door No. 7/473 ZA -5&6, 2nd Floor, Ajiyal Complex,
Address of the
Door No. 7/473
Kakkanad, ZA -5&6,
Cochin 2nd Floor, Ajiyal Complex,
- 682030
5 Address
Registeredof the
office &
Kakkanad, Cochin - 682030
Ph: 0484 – 6491138
5 Registered office &
contact details
Ph: 0484
Email id: –deptcs@inkelkerala.com
6491138
contact details
Whether listed Email id: deptcs@inkelkerala.com
6 Unlisted
Whether
companylisted
6 Unlisted
company BGSE Financials Limited
BGSE Financials Towers,
Stock Exchange Limited
Stock
No.51,Exchange
1st Cross,Towers,
J. C. Road,
Name, Address &
No.51, 1st Cross,
Bangalore J. C. Road,
- 560 027
Name,
contactAddress
details of& the
7 Bangalore - 560 027
Office : 080-4132 9661
contact details
Registrar of the
& Transfer
7 Office
Mobile:: 080-4132 9661
0 77609 68051
Registrar & Transfer
Agent, if any.
Mobile: 0 77609 68051
email : rta_admin@bfsl.co.in or
Agent, if any.
email : manager_rta@bfsl.co.in
rta_admin@bfsl.co.in or
manager_rta@bfsl.co.in

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10% or more of the total turnover of the company shall be stated)
S. No. Name and Description of NIC Code of % to total turnover of the
S. No. Name and Description
main products of
/ services NIC
the Code of % to total turnover of the
company
main products / services the company
1 Infrastructural projects 45 100%
1 Infrastructural projects 45 100%

% of Holding/
S Name & address of Applicable
S
N Name
the&company
address of
CIN 18 % of
shares Holding/
subsidiary/
Applicable
section
CIN shares
held subsidiary/
Associate
S. No. Name and Description of NIC Code of % to total turnover of the
S. No. Name and Description of NIC Code of % to total turnover of the
main products / services the company
main products / services the company
1 Infrastructural projects 45 100% ANNUAL
1 Infrastructural projects 45 100%
REPORT
2016-2017

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

% of Holding/
S Name & address of % of Holding/ Applicable
S Name & address of CIN shares subsidiary/ Applicable
N the company CIN shares subsidiary/ section
N the company held Associate section
held Associate
INKEL -KSIDC U74900KL2010PLC025553 74 Subsidiary 2(87)(ii)
1 INKEL -KSIDC U74900KL2010PLC025553 74 Subsidiary 2(87)(ii)
1 Projects Limited
Projects Limited
INKEL -KINFRA
2 INKEL -KINFRA U74900KL2010PLC025556 74 Subsidiary 2(87)(ii)
2 Infrastructure U74900KL2010PLC025556 74 Subsidiary 2(87)(ii)
Infrastructure
Projects Limited
Projects Limited
3 MIV Logistics U63012KL2011PTC028839 39.43 Associate 2(6)
3 MIV Logistics U63012KL2011PTC028839 39.43 Associate 2(6)
Private Limited
Private Limited
4 Thalikulam PURA U45100KL2012PTC030590 98.86 Subsidiary 2(87)(ii)
4 Thalikulam PURA U45100KL2012PTC030590 98.86 Subsidiary 2(87)(ii)
Private Limited
Private Limited
5 Tirurangadi PURA U45100KL2012PTC030589 98.84 Subsidiary 2(87)(ii)
5 Tirurangadi PURA U45100KL2012PTC030589 98.84 Subsidiary 2(87)(ii)
Private Limited
Private Limited
6 INKES Trade U45400KL2014PLC037668 74 Subsidiary 2(87)(ii)
6 INKES Trade U45400KL2014PLC037668 74 Subsidiary 2(87)(ii)
Centre Limited
Centre Limited
7 Seguro – INKEL AAD -1041 45 Associate 2(6)
7 Seguro – INKEL AAD -1041 45 Associate 2(6)
Consortium LLP
Consortium LLP
8 INKEL -EKK Roads U45203KL2016PTC039948 51 Subsidiary 2(87)(ii)
8 INKEL -EKK Roads U45203KL2016PTC039948 51 Subsidiary 2(87)(ii)
Private Limited
Private Limited

IV. SHARE HOLDING PATTERN

Name of shareholders No. of shares held Percentage
Name of shareholders No. of shares held Percentage
Govt. of Kerala 4,05,00,000 24.84
Govt. of Kerala 4,05,00,000 24.84
Govt. Companies 1,20,00,000 7.36
Govt. Companies 1,20,00,000 7.36
Directors / Relatives of Directors 6,72,17,000 41.23
Directors / Relatives of Directors 6,72,17,000 41.23
Foreign Holdings 2,20,00,000 13.49
Foreign Holdings 2,20,00,000 13.49
Banks & Corporate Holdings 87, 00, 000 5.34
Banks & Corporate Holdings 87, 00, 000 5.34
Others 1,26,10,000 7.73
Others 1,26,10,000 7.73
TOTAL 16,30,27,000 100.00
TOTAL 16,30,27,000 100.00

Change in Promoters’ Shareholding (please specify, if there is no change)

NIL Secured Loans

Secured Loans Unsecured Total
excluding Unsecured Deposits Total
excluding Loans Deposits Indebtedness
deposits Loans Indebtedness
deposits
19
NIL
NIL
 Govt. of Kerala
Kerala 4,05,00,000
4,05,00,000 24.84
24.84
Govt. Companies
Companies 1,20,00,000
1,20,00,000 7.36
7.36
Directors / Relatives
Relatives of
of Directors
Directors 6,72,17,000
6,72,17,000 41.23
41.23
Foreign
Foreign Holdings
Holdings 2,20,00,000
2,20,00,000 13.49
13.49
Banks ANNUAL
Banks && Corporate
Corporate Holdings
Holdings 87
,, 00
87 ,, 000
00 000 5.34
5.34
REPORT
Others
Others 1,26,10,000
1,26,10,000 7.73
2016-2017
7.73
TOTAL
TOTAL 16,30,27,000
16,30,27,000 100.00
100.00
V) INDEBTEDNESS -Indebtedness of the Company including interest outstanding/
accrued but not due for payment.
Secured
Secured Loans
Loans Unsecured
excluding Unsecured Deposits Total
Total
excluding Loans Deposits Indebtedness
deposits Loans Indebtedness
deposits
NIL
NIL

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-

A. Remuneration to Managing Director, Whole-time Directors and/or Manager:

SN.
SN. Particulars
Particulars of
of Remuneration
Remuneration Name
Nameof ofMD
MD
TT Balakrishnan
Balakrishnan
11 Gross
Gross salary
salary
(a)
(a) Salary as
Salary as per
per provisions
provisions contained
contained in
in
section 17(1) of the Income -tax Act, 1961
section 17(1) of the Income -tax Act, 1961 36,00,000
36,00,000
(b)
(b) Value
Value ofof perquisites
perquisites u/s
u/s 17(2)
17(2) Income-tax
Income-tax
Act, 1961
Act, 1961 --
(c)
(c) Profits
Profits in
in lieu
lieu of
of salary
salary under
under section
section 17(3)
17(3)
Income- tax Act,
Income- tax Act, 1961 1961 --
22 Stock
Stock Option
Option NIL
NIL
33 Sweat
Sweat Equity
Equity NIL
NIL
44 Commission
Commission NIL
NIL
-- as
as %% of
of profit
profit
-- others, specify…
others, specify…
55 Others,
Others, please
please specify
specify NA
NA
Total
Total 36,00,000
36,00,000
Ceiling
Ceiling as
as per
per the
the Act
Act 48,00,000
48,00,000

20
 B. Remuneration to other directors
Amount (Rs)
SN Particulars
. of Remune- Total
Name of Directors
ration Amount

Mr. Paul Mr. P.H. Mr. Mr. C.K Mr. Siddeek Mr. C.V. Mr. Mr. M M Mr. P Mrs. Mrs. Dr.
Antony Kurian Varghese Menon Ahmed Haji Rappai Mohamed Abdul Nandaku- Pamela M Beena
Kurian Panatharayil Althaf Basheer maran Anna
Mathew
1 Independent
- - - - - - - - - - - -
Directors
Fee for
attending
board/ - - - - - - - 1,75,000 1,35,000 - 3,10,000
committee
meetings
Commission - - - - - - - - - - -
Others,
please - - - - - - - - - -
specify

21
Total (1) - - - - - - - -

2 Other Non-
Executive
Directors
Fee for
attending
board 25,000 25,000 50,000 25,000 0 1,70,000 90,000 2,00,000 - - 50,000 6,35,000
/committee
meetings
Commission
Others,
please
specify
Total (2) 25,000 25,000 50,000 25,000 0 1,70,000 90,000 2,00,000 - - 50,000 6,35,000
Total
25,000 25,000 50,000 25,000 0 1,70,000 90,000 2,00,000 1,75,000 1,35,000 50,000 9,45,000
(B)=(1+2)
2016-2017
REPORT
ANNUAL
 ANNUAL
REPORT
2016-2017

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD

Amount (Rs)
SN Particulars of Remuneration Key Managerial Personnel
CS CFO Total
1
SN
Gross salary
Particulars of Remuneration Key Managerial Personnel
(a) Salary as per provisions contained in CS
1,719,327 CFO1,874,428Total 3,593,755
1 section 17(1)
Gross salary of the Income -tax Act, 1961
(b)Salary
(a) Valueasofper perquisites
provisionsu/s 17(2) in
contained 167,923
1,719,327 169,291
1,874,428 3,593,755337,214
Income-tax
section 17(1) Act,
of the1961
Income-tax Act, 1961
(c)Value
(b) Profitsof in lieu of salary
perquisites under section
u/s 17(2)
167,923 169,291 337,214
Income-tax Act, 1961Act, 1961
17(3) Income-tax
2 (c) Profits
Stock in lieu of salary under section
Option
17(3) Income-tax Act, 1961
3 Sweat Equity
2 Stock Option
4 Commission
3 Sweat Equity
- as % of profit
4 Commission
-others,
as % ofspecify…
profit
5 others, specify… specify
Others, please
5 Total please specify
Others, 1,887,250 2,043,719 3,930,969
Total 1,887,250 2,043,719 3,930,969

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of Brief Details of Authority Appeal made,
Type Section
the of Brief Details
Description of
Penalty / Authority Appeal made,
[RD / NCLT/ if any (give
theCompanies Description Penalty /
Punishment/[RD / NCLT/
COURT] if any (give
Details)
Companies Punishment/ COURT] Details)
Act Compounding
Act Compounding
fees imposed
fees imposed
A. COMPANY
A. COMPANY : NIL: NIL
B. DIRECTORS
B. DIRECTORS : NIL: NIL
C. OTHER
C. OTHEROFFICERS
OFFICERSIN IN DEFAULT
DEFAULT : NIL: NIL

22
 ANNUAL
REPORT
2016-2017

SECRETARIAL AUDIT REPORT

For the Financial Year ended 31st March, 2017
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of Companies
(Appointment and Remuneration Personnel) Rules, 2014]
Form MR-3
To, (iii) The Depositories Act, 1996 and the Regulations
The Members and Bye-laws framed there under; (The clause
Inkel Limited is not applicable as the company is a
(CIN # U45209KL2007PLC020471) Unlisted Public Company)
Kakkanad,Kochi–682 030.
Kerala. India. (iv) Foreign Exchange Management Act, 1999
and the rules and regulations made there under
I have conducted the Secretarial Audit of the
to the extent of Foreign Direct Investment,
compliance of applicable statutory provisions and
Overseas Direct Investment and External
the adherence to good corporate practices by
Commercial borrowings (The clause is not
Inkel Limited (hereinafter called the company).
applicable during the Audit period)
The Secretarial Audit was conducted in a manner
that provided me a reasonable basis for evaluating
(v) The following Regulations and Guidelines
the corporate conducts/statutory compliances and
prescribed under the Securities and Exchange
expressing my opinion thereon.
Board of India Act, 1992 (‘SEBI Act’): (The
company being an Unlisted Public Company,
Based on the verification of company’s books,
Clause (v) and its sub clauses (a) to (h) are
papers, minute books, forms and returns filed and
not applicable)
other records maintained by the company and
also the information provided by the company, its
(a) The Securities and Exchange Board of India
officers, agents and authorized representatives
(Substantial Acquisition of Shares and
during the conduct of Secretarial Audit, I hereby
Takeovers) Regulations, 2011;
report that in my opinion, the company has, during
the audit period covering the financial year ended
(b) The Securities and Exchange Board of India
on 31st March, 2017 (‘Audit Period’) complied with
(Prohibition of Insider Trading) Regulations,1992;
the statutory provisions listed hereunder and also
that the company has followed the Board processes
(c) The Securities and Exchange Board of India
and has the required compliance mechanism in
(Issue of Capital and Disclosure Requirements)
place to the extent, in the manner and subject to the
Regulations, 2009;
reporting made hereinafter:
(d) The Securities and Exchange Board of India
I have examined the books, papers, minute books,
(Employee Stock Option Scheme and Employee
forms and returns filed and other records maintained
Stock Purchase Scheme Guidelines, 1999;
by Inkel Limited for the financial year ended on
31st March, 2017 according to the provisions of:
(e) The Securities and Exchange Board of India
(Issue and Listing of Debt Securities
(i) The Companies Act, 2013(the Act) and the
Regulations, 2008;
rules made there under;
(f) The Securities and Exchange Board of India
(ii) The Securities Contracts (Regulation) Act,
(Registrars to an issue and Share Transfer
1956(‘SCRA’) and the rules made there under;
Agents) Regulations, 1993 regarding the
(The clause is not applicable as the company
Companies Act and dealing with client;
is an Unlisted Public Company).

23

(g) The Securities and Exchange Board of India
(Delisting of Equity Shares) Regulations, 2009; and
(h) The Securities and Exchange Board of India
(Buy back of Securities) Regulations, 1998.
I have also examined with applicable clauses of
following:
(i) Secretarial Standards issued by the Institute of
Company Secretaries of India and
(ii) The Listing Agreements entered into by
the company with Bombay Stock (s) Exchange
Limited, National Stock Exchange of India
Limited and London Stock Exchange.(The
Clause is not applicable as the company is
an Unlisted Public Company)
During the period under review the company has
complied with the provisions of the Act, Rules,
Regulations, Guidelines and Standards as mentioned
above, subject to the following observations:
1. The provisions of the Act regarding Corporate
Social Responsibility (CSR) is applicable to the
company. As per the provisions of Section 135 read
with Companies (Corporate Social Responsibility
Policy) Rules, 2014 and Schedule VII of the
Companies Act, 2013, the company should have
spent Rs. 23,91,471/- (Rupees twenty three lakhs
ninety one thousand four hundred and seventy one
only) on CSR activities, which is 2% of the average
net profit of the last three financial years. However,
the company has spent Rs. 21,05,000/- (Rupees
twenty one lakhs and five thousand only) on CSR
activities during the Audit period. Consequently
a sum of Rs. 2,86,471/- (Rupees two lakhs eighty
six thousand four hundred and seventy one only)
remains under spent.
In respect of other laws, like legislation srelating
to employee and labour regulations, welfare and
connected activities specifically applicable to the
company, I have relied on information/records
produced by the company during the course of the
audit and the reporting is limited to that extent. The
company has complied with following legislations
specifically applicable to it:
(a) Employees Provident Fund and Miscellaneous
Provisions Act, 1952;
24
ANNUAL
REPORT
2016-2017
(b) Employees State Insurance Act, 1948;
(c) The Maternity Benefit Act, 1961;
(d) The Payment of Gratuity Act, 1972;
(e) Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013;
(f) The Minimum Wages Act, 1948;
(g) The Payment of Bonus Act, 1965 and
(h) Kerala Industrial Establishments (National and
Festival Holidays) Act, 1958.
I further report that:
The Board of Directors of the company is duly
constituted with proper balance of Executive
Director, Non-Executive Directors, Woman Director
and Independent Directors. The change in the
composition of the Board of Directors that took
place during the audit period were carried out in
compliance with the provisions of the Act.
Adequate notice is given to all directors to schedule
the Board Meetings. Agenda and detailed notes on
agenda were sent at least seven days in advance
and a system exists for seeking and obtaining further
information and clarifications on the agenda items
before the meeting and for meaningful participation
at the meeting.
Decisions at Board Meetings are carried out and
recorded in the Minutes of Meetings of Board of
Directors.
There are adequate systems and processes in
the company commensurate with the size and
operations of the company to monitor and ensure
compliance with applicable laws, rules, regulations
and guidelines.
I further report that during the audit period
following Special Resolutions were passed having a
major bearing on the company’s affairs in pursuance
of the above referred laws, rules, regulations and
guidelines as applicable:
(i) On 29/07/2016, a special resolution was passed
 ANNUAL
REPORT
2016-2017

in the Extra Ordinary General Meeting for
acceptance of unsecured deposit from Members
and/or Public.
(ii) In the Annual General Meeting held on
24/09/2016, a special resolution was passed
for acceptance of unsecured deposit from
Members and/or Public beyond 24/09/2016.
Place : Ernakulam
Date : 24.04.2017
(iii) On 27/03/2017, a special resolution was
passed in the Extra Ordinary General Meeting
ratifying the appointment of the Managing
Director of the company and fixing his
remuneration (term of appointment is from
01/11/2016 to 31/03/2017 or until further orders
from the Government, whichever is earlier).
Name of the Company Secretary : T R Sreeram
FCS No. : 4926
C.P. No : 3351

Annexure - A

3. I have not verified the correctness and

To,
appropriateness of financial records and books
The Members
of accounts of the company.
Inkel Limited
(CIN # U45209KL2007PLC020471)
4. Whereever required, I have obtained the
Kakkanad, Kochi – 682 030.
Management representation about the
Kerala. India.
compliance of laws, rules and regulations and
happening of events etc.
The report of even date is to be read along with this
Annexure.
5. The compliance of the provisions of corporate
and other applicable laws, rules, regulations,
1. Maintenance of Secretarial record is the
standards is the responsibility of management. I
responsibility of the management of the
have based my opinion on the basis of
company. My responsibility is to express an
information/records produced by the company
opinion on these Secretarial records based on
during the course of the audit and the reporting
my audit.
is limited to that extent.
2. I have followed the audit practices and
6. The Secretarial Audit report is neither an
processes as were appropriate to obtain
assurance as to the future viability of the
reasonable assurance about the correctness
company nor of the efficacy or effectiveness
of the contents of the Secretarial records. The
with which the management has conducted the
verification was done to ensure that correct
affairs of the company.
facts are reflected in Secretarial records. I
believe that the processes and practices that
were followed provide a reasonable basis for my
opinion.
Name of the Company Secretary : T R Sreeram
Place : Ernakulam FCS No. : 4926
Date : 24.04.2017 C.P. No : 3351

25

INDEPENDENT AUDITOR’S REPORT
To The Members of Inkel Limited,
Kochi
Report on the Standalone Financial
Statements
We have audited the accompanying standalone
financial statements of Inkel Limited (“the Company”),
which comprise the Balance Sheet as at 31st
March, 2017, the Statement of Profit and Loss, the
Cash Flow Statement for the year then ended, and a
summary of the significant accounting policies and
other explanatory information.
Management’s Responsibility for the
Standalone Financial Statements
The Company’s Board of Directors is responsible
for the matters stated in Section 134(5) of the
Companies Act, 2013 (“the Act”) with respect to the
preparation of these standalone financial statements
that give a true and fair view of the financial
position, financial performance and cash flows of
the Company in accordance with the accounting
principles generally accepted in India, including
the Accounting Standards specified under Section
133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014. This responsibility also
includes maintenance of adequate accounting
records in accordance with the provisions of the
Act for safeguarding of the assets of the Company
and for preventing and detecting frauds and
other irregularities; selection and application of
appropriate accounting policies; making judgments
and estimates that are reasonable and prudent;
and design, implementation and maintenance
of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant
to the preparation and presentation of the financial
statements that give a true and fair view and are
free from material misstatement, whether due to
fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these
standalone financial statements based on our audit.
We have taken into account the provisions of the
26
ANNUAL
REPORT
2016-2017
Act, the accounting and auditing standards and
matters which are required to be included in the
audit report under the provisions of the Act and the
Rules made thereunder.
We conducted our audit in accordance with the
Standards on Auditing specified under Section
143(10) of the Act. Those Standards require that
we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance
about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures
in the financial statements. The procedures selected
depend on the auditor’s judgment, including the
assessment of the risks of material misstatement
of the financial statements, whether due to fraud
or error. In making those risk assessments, the
auditor considers internal financial control relevant
to the Company’s preparation of the financial
statements that give a true and fair view in order to
design audit procedures that are appropriate in the
circumstances. An audit also includes evaluating the
appropriateness of accounting policies used and the
reasonableness of the accounting estimates made
by Company’s Directors, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis
for our audit opinion on the standalone financial
statements.
Opinion
In our opinion and to the best of our information
and according to the explanations given to us, 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, of the state of affairs of the Company as at
31st March, 2017, and its profit and its cash flows
for the year ended on that date.
Emphasis of Matter
We draw attention to Note 2.13.1, Note 2.19.1 and

Note 2.19.2to the standalone financial statements
which states that having regard to the plans for future
operations of the subsidiary companies/associate
company, the realizable value of assets owned
by subsidiary company INKEL- KSIDC Projects
Limited and associate company MIV Logistics
Private Limited and based on the discussions held
by the management of subsidiary company INKEL-
KINFRA Infrastructure Projects Limited with senior
officials of Government of Kerala, the management
is of the opinion that the loans given to the subsidiary
companies will be recovered in full and there is no
permanent diminution in the value of investments in
the subsidiary companies/associate company.
Our opinion is not modified in respect of this matter.
Report on Other Legal and Regulatory
Requirements
1. As required by the Companies (Auditor’s
Report) Order, 2016 (“the Order”), issued by the
Central Government of India in terms of sub-section
(11) of section 143 of the Companies Act, 2013, we
give in “Annexure A”, a statement on the matters
specified in paragraphs 3 and 4 of the Order, to the
extent applicable.
2. As required by Section 143 (3) of the Act, we
report that:
(a) We have sought and obtained all the
information and explanations which to the
best of our knowledge and belief were
necessary for the purposes of our audit.
(b) In our opinion, proper books of account as
required by law have been kept by the
Company so far as it appears from our
examination of those books.
(c) The Balance Sheet, the Statement of Profit
and Loss, and the Cash Flow Statement
dealt with by this Report are in agreement
with the books of account.
(d) In our opinion, the aforesaid standalone
financial statements comply with the
Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014.
27
ANNUAL
REPORT
2016-2017
(e) On the basis of the written representations
received from the directors as on 31st
March, 2017 taken on record by the Board of
Directors, none of the directors is disqualified as on
31st March, 2017 from being appointed as a director
in terms of Section 164 (2) of the Act.
(f) With respect to the adequacy of internal
financial controls over financial reporting of the
Company and the operating effectiveness
of such controls, refer to our separate Report in
“Annexure B”.
(g) With respect to the other matters to be included
in the Auditor’s Report in accordance with
Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our
information and according to the explanations
given to us :
i. The Company has disclosed the impact
of pending litigations on its financial position
in its financial statements – Refer Note
2.33(c) to the standalone financial
statements.
ii. The Company did not have any long-term
contracts including derivative contracts for
which there were any material foreseeable
losses.
iii. There has been no delay in transferring
amounts, required to be transferred, to
the Investor Education and Protection Fund
by the Company.
iv. The Company has provided requisite
disclosures in the financial statements as
to holdings as well as dealings in Specified
Bank Notes during the period from 8th
November, 2016 to 30th December, 2016.
Based on audit procedures and relying on
the management representation, we report
that the disclosures are in accordance with
books of account maintained by the
Company and as produced to us by
the Management – Refer Note No 2.18.4 to
the standalone financial statements.
Place: Kochi-19
Date: 23.06.2017

“ANNEXURE A” REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING
“REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS” OF OUR
INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE STANDALONE
FINANCIAL STATEMENTS OF INKEL LIMITED FOR THE YEAR ENDED
31st MARCH 2017
1. (a) The Company is maintaining proper records
showing full particulars including quantitative details
and situation of fixed assets.
(b) We are informed that fixed assets have been
physically verified by the management at reasonable
intervals and that no material discrepancies were
noticed on such verification.
(c) According to the information and explanation
given to us, the records of the Company examined
by us and the confirmation from financial lender in
respect of title deeds deposited with them and based
on the details of immovable property furnished to us
by the Company, the title deeds of the immovable
property are held in the name of the Company.
2. The inventory comprises of land and building/
amenities. We are informed that the inventory
has been physically verified by the management
at reasonable intervals and that no material
discrepancies were noticed on such verification.
3. The Company has granted unsecured loans to
two companies and one limited liability partnership
covered in the register maintained under Section
189 of the Act. In relation to such loans :-
(a) In our opinion,the terms and conditions
on which the loans have been granted to the
companies and limited liability partnershipcovered
in the register maintained under Section 189 of the
Act were not prima facie prejudicial to the interest of
the Company.
(b) As per the information and explanations
given to us and the records of the Company
examined by us, the terms do not stipulate any
repayment schedule and the principal and interest
are repayable on demand. As per the information
and explanations given to us, the Company has not
raised any demand against the above loans during
the year.
28
ANNUAL
REPORT
2016-2017
(c) There are no overdue amounts in respect of
such loans.
4. According to the information and explanations
given to us and the records of the Company
examined by us, the Company has complied with
the provisions of Sections 185 and 186 of the Act
in respect of the loans granted, investments made,
guarantees given and securityprovided by the
Company.
5. According to the information and explanations
given to us and the records of the Company
examined by us, the Company has complied with
the directives issued by the Reserve Bank of India
and the provisions of Sections 73 to 76 or any other
relevant provisions of the Act and the rules framed
thereunder in accepting deposits from the public
during the year.
6. To the best of our knowledge and according
to the information and explanations given to us,
the Central Government has not prescribed the
maintenance of cost records under Section 148(1)
of the Act for the Company at this stage.
7. (a)As per the information and explanations
given to us and according to our examination of the
records of the Company, the Company has been
generally regular in depositing undisputed statutory
dues including Provident Fund, Employees’ State
Insurance, Income Tax, Sales Tax, Service Tax,Duty
of Customs, Duty of Excise, Value Added Tax,
Cess and other statutory dues as applicable to the
Company to the appropriate authorities during the
year,except for minor delays in depositing Income
Tax and Service Tax.
There are no arrears of undisputed statutory dues
outstanding at the last day of the financial year for
a period of more than six months from the date on
which they became payable.

(b) According to the information and explanations
given to us and the records of the Company examined
by us, the Company has no dues of Income Tax,
Sales Tax, Service Tax, Duty of Customs, Duty
of Excise or Value Added Tax that have not been
deposited on account of any dispute.
8. According to the information and explanations
given to us and the records of the Company
examined by us, the Company has not defaulted
in repayment of loans or borrowings to a financial
institution, bank, Government or dues to debenture
holders.
9. According to the information and explanations
given to us and the records of the Company
examined by us, no money has been raised by way
of initial public offer or further public offer (including
debt instruments) and the term loan availed by the
Company have been applied for the purpose for
which the loan was obtained.
10. During the course of our examination of the
books and records of the Company carried out in
accordance with the generally accepted auditing
practices in India, and according to the information
and explanations given to us, we have neither
come across any instance of material fraud by
the Company or on the Company by its officers or
employees, noticed or reported during the year,
nor have been informed of any such case by the
Management.
11. According to the information and explanations
given to us and based on the examination of the
records of the Company, managerial remuneration
has been paid or provided in accordance with the
requisite approvals mandated by the provisions of
Section 197 read with Schedule V to the Act.
29
ANNUAL
REPORT
2016-2017
12. The Company is not a Nidhi company.
Accordingly, the reporting requirements under
clause (xii) of paragraph 3 of the Order are not
applicable.
13. According to the information and explanations
given to us and the records of the Company
examined by us, all transactions with the related
parties are in compliance with Sections 177 and
188 of the Act where applicable and the details of
such transactions have been disclosed in Note 2.30
to the standalone financial statements as required
by the applicable accounting standards.
14. According to the information and explanations
given to us and based on the examination of the
records of the Company, the Company has not made
any preferential allotment or private placement
of shares or fully or partly convertible debentures
during the year.
15. According to the information and explanations
given to us and the records of the Company
examined by us, the Company has not entered
into any non-cash transactions with directors or
persons connected with the directors. Accordingly,
the reporting requirement under clause (xv) of
paragraph 3 of the Order is not applicable.
16. According to the information and explanations
given to us and the records of the Company
examined by us, the Company is not required to
be registered under Section 45-IA of the Reserve
Bank of India Act, 1934. Accordingly, the reporting
requirement under clause (xvi) of paragraph 3 of the
Order is not applicable.
Place: Kochi-19
Date: 23.06.2017

“ANNEXURE B” REFERRED TO IN PARAGRAPH 2(f) UNDER THE HEADING
“REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS” OF OUR
INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE STANDALONE
FINANCIAL STATEMENTS OF INKEL LIMITED FOR THE YEAR ENDED
31st MARCH 2017
Report on the Internal Financial Controls
under Clause (i) of sub- section 3 of
Section 143 of the Companies Act, 2013
(“the Act”)
We have audited the internal financial controls over
financial reporting of Inkel Limited (“the Company”)
as of March 31, 2017 in conjunction with our audit of
the standalone financial statements of the Company
for the year ended on that date.
Management’s Responsibility for
Internal Financial Controls
The Company’s management is responsible for
establishing and maintaining internal financial
controls based on the internal control over financial
reporting criteria established by the Company
considering the essential components of internal
control stated in the Guidance Note on Audit of
Internal Financial Controls Over Financial Reporting
issued by the Institute of Chartered Accountants
of India. These responsibilities include the design,
implementation and maintenance of adequate
internal financial controls that were operating
effectively for ensuring the orderly and efficient
conduct of its business, including adherence to the
Company’s policies, the safeguarding of its assets,
the prevention and detection of frauds and errors,
the accuracy and completeness of the accounting
records, and the timely preparation of reliable
financial information, as required under the Act.
Auditor’s Responsibility
Our responsibility is to express an opinion on the
Company’s internal financial controls over financial
reporting based on our audit. We conducted our
audit in accordance with the Guidance Note on
Audit of Internal Financial Controls Over Financial
Reporting (the “Guidance Note”) and the Standards
on Auditing, issued by the ICAI and deemed to be
prescribed under Section 143(10) of the Act, to the
extent applicable to an audit of internal financial
30
ANNUAL
REPORT
2016-2017
controls, both applicable to an audit of Internal
Financial Controls and, both issued by the Institute
of Chartered Accountants of India. Those Standards
and the Guidance Note require that we comply with
ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether
adequate internal financial controls over financial
reporting was established and maintained and if
such controls operated effectively in all material
respects.
Our audit involves performing procedures to obtain
audit evidence about the adequacy of the internal
financial controls system over financial reporting and
their operating effectiveness. Our audit of internal
financial controls over financial reporting included
obtaining an understanding of internal financial
controls over financial reporting, assessing the risk
that a material weakness exists, and testing and
evaluating the design and operating effectiveness
of internal control based on the assessed risk.
The procedures selected depend on the auditor’s
judgement, including the assessment of the risks of
material misstatement of the financial statements,
whether due to fraud or error.
We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for
our audit opinion on the Company’s internal financial
controls system over financial reporting.
Meaning of Internal Financial Controls
Over Financial Reporting
A company’s internal financial control over
financial reporting is a process designed to provide
reasonable assurance regarding the reliability of
financial reporting and the preparation of financial
statements for external purposes in accordance
with generally accepted accounting principles. A
company’s internal financial control over financial
reporting includes those policies and procedures
that (1) pertain to the maintenance of records that,

in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit
preparation of financial statements in accordance
with generally accepted accounting principles, and
that receipts and expenditures of the company are
being made only in accordance with authorisations of
management and directors of the company; and (3)
provide reasonable assurance regarding prevention
or timely detection of unauthorised acquisition, use,
or disposition of the company’s assets that could
have a material effect on the financial statements.
Inherent Limitations of Internal Financial
Controls Over Financial Reporting
Because of the inherent limitations of internal
financial controls over financial reporting, including
the possibility of collusion or improper management
override of controls, material misstatements due to
error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial
31
ANNUAL
REPORT
2016-2017
controls over financial reporting to future periods are
subject to the risk that the internal financial control
over financial reporting may become inadequate
because of changes in conditions, or that the degree
of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, the Company has, in all material
respects, an adequate internal financial controls
system over financial reporting and such internal
financial controls over financial reporting were
operating effectively as at March 31, 2017, based
on the internal control over financial reporting
criteria established by the Company considering
the essential components of internal control stated
in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the
Institute of Chartered Accountants of India.
Place:Kochi-19
Date: 23.06.2017
 ANNUAL
REPORT
2016-2017

BALANCE SHEET AS AT 31st MARCH 2017

Note As at 31.03.2017 As at 31.03.2016
Particulars
No. (In Rupees) (In Rupees)

I. EQUITY AND LIABILITIES

(1) Shareholders' Funds
(a) Share Capital 2.1 1,63,02,70,000 1,63,02,70,000
(b) Reserves and Surplus 2.2 33,85,53,468 26,56,63,151

(2) Non - Current Liabilities

(a) Long-term Borrowings 2.3 11,21,63,000 3,00,00,000
(b) Deferred Tax Liabilities (Net) 2.4 6,00,92,346 5,38,26,040
(c) Other Long -Term Liabilities 2.5 64,28,622 63,53,240
(d) Long - Term Provisions 2.6 34,51,389 22,54,189

(3) Current Liabilities

(a) Short Term Borrowings 2.7 1,03,50,000 -
(b) Trade Payables 2.8
i. Total outstanding dues of micro enterprises and small enterprises; and - 3,13,999
ii. Total outstanding dues other than micro enterprises and small enterprises 3,88,81,323 96,50,437
(c) Other Current Liabilities 2.9 4,76,84,895 5,92,06,945
(d) Short Term Provisions 2.10 2,49,76,844 12,36,23,473

TOTAL 2,27,28,51,887 2,18,11,61,474

II. ASSETS
(1) Non - Current Assets
(a) Fixed Assets
(i) Tangible Assets (Property, Plant and Equipment) 2.11 66,45,07,268 68,32,48,990
(ii) Intangible Assets 2.11 2,26,548 3,59,618
(iii) Capital Work - in - Progress 2.12 75,000 67,308
(b) Non - Current Investments 2.13 59,18,63,033 50,91,88,935
(c) Long - Term Loans and Advances 2.14 9,78,36,781 15,69,26,769
(d) Other non-current assets 2.15 2,57,50,342 2,05,73,000

(2) Current Assets

(a) Inventories 2.16 - -
(b) Trade Receivables 2.17 16,45,08,873 24,24,51,332
(c) Cash and Cash Equivalents 2.18 34,12,84,792 18,46,44,159
(d) Short - Term Loans and Advances 2.19 38,04,86,278 36,99,98,067
(e) Other Current Assets 2.20 63,12,972 1,37,03,296

TOTAL 2,27,28,51,887 2,18,11,61,474

Significant Accounting Policies and Notes to Accounts 1&2
The Accompanying Notes are an integral part of the financial statements
For and on behalf of the Board of Directors As per our separate report of even date attached

T. Balakrishnan, Managing Director M.M. Abdul Basheer, Director For Varma & Varma
DIN: 00052922 DIN: 00120916 Chartered Accountants
Firm No.004532S
K. Padmadasan, George Raphael, Vijay Narayan Govind
Company Secretary Chief Financial Officer (Partner)
Membership No.203094
Place : Kochi
Date : 23.06.2017

32
 ANNUAL
REPORT
2016-2017

STATEMENT OF PROFIT AND LOSS FOR

THE YEAR ENDED 31st MARCH 2017
For the year ended For the year ended
Particulars Note No. 31.03.2017 31.03.2016
(In Rupees) (In Rupees)

I. Revenue
Revenue from Operations 2.21 27,59,05,886 29,91,37,999
Other Income 2.22 8,98,65,255 9,95,28,436

II. Total Revenue 36,57,71,141 39,86,66,435

lIl. Expense:
Cost of land acquired/building/amenities constructed and 2.23 5,92,04,063 11,66,24,551
disposed (on Long Term Finance Lease Agreements)
Purchase of Stock in Trade 2.24 6,06,88,285 -
Employee Benefits Expense 2.25 4,26,58,328 2,75,43,191
Finance Costs 2.26 1,17,55,687 -
Depreciation and Amortisation Expense 2.11 2,56,11,055 1,71,55,609
Other Expense 2.27 6,45,66,848 4,40,93,895
IV.Total Expense 26,44,84,266 20,54,17,246

V. Profit Before Tax (II - IV) 10,12,86,875 19,32,49,189

VI. Tax Expense:

(1) Current Tax 3,49,54,710 4,08,34,925
Less: MAT Credit Entitlement 1,28,24,458 -
Net Current tax 2,21,30,252 4,08,34,925
(2) Deferred tax 62,66,306 2,62,68,390

VII. Profit for the year (V - VI) 7,28,90,317 12,61,45,874

VIII. Earning per Equity Share: 2.28

(Face value of share Rs 10/- (Rs 10/-) each)
(1) Basic 0.45 0.77
(2) Diluted 0.45 0.77
Significant Accounting Policies and Notes to Accounts 1&2

The Accompanying Notes are an integral part of the financial statements.

For and on behalf of the Board of Directors As per our separate report of even date attached

T. Balakrishnan, Managing Director M.M. Abdul Basheer, Director For Varma & Varma
DIN: 00052922 DIN: 00120916 Chartered Accountants
Firm No.004532S
K. Padmadasan, George Raphael, Vijay Narayan Govind
Company Secretary Chief Financial Officer (Partner)
Membership No.203094
Place : Kochi
Date : 23.06.2017

33
 ANNUAL
REPORT
2016-2017

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31ST MARCH 2017
(In Rupees)
For the Year ended For the Year ended
Particulars
31.03.2017 31.03.2016
A CASH FLOW FROM OPERATING ACTIVITIES
Profit Before Taxation and exceptional items 10,12,86,875 19,32,49,189
Adjustments for :
Depreciation and Amortisation expense 2,56,11,055 1,71,55,609
Loss/(Profit) on sale of Assets(Net) (1,43,715) 1,11,006
Interest Income (6,97,93,806) (9,11,35,767)
Finance costs 1,17,55,687 -
Share of Profit from Seguro-INKEL Consortium LLP (50,69,036) (59,47,407)
Conversion of fixed assets to current assets 5,92,04,063 11,43,60,507
Operating profit before Working Capital Changes 12,28,51,123 22,77,93,137

Changes in Working Capital

Adjustments for (Increase)\Decrease in Operating Assets
Trade Receivables 7,79,42,459 (13,11,99,261)
Short term loans and advances 1,55,50,593 (7,11,548)
Other Non-Current Assets (51,77,342) 7,21,79,268
Long term Loans and Advances 39,150 5,44,250
8,83,54,860 (5,91,87,291)
Adjustments for Increase\(Decrease) in Operating Liabilities
Trade Payables 2,89,16,887 8,35,303
Other Current Liabilities 2,07,29,234 (2,34,98,993)
Short term Provisions (14,55,771) 25,77,472
Long term Provisions 11,97,200 12,13,739
Long Term Liabilities (22,56,710) 8,07,000
4,71,30,840 (1,80,65,479)

Cash generated from Operations 25,83,36,823 15,05,40,367

Taxes Paid (3,72,75,536) (3,49,05,531)
Net Cash Used in Operating activities - ( A ) 22,10,61,287 11,56,34,836

B CASH FLOW FROM INVESTING ACTIVITIES

Purchase of Fixed Assets including Capital WIP (9,36,12,359) (33,03,77,615)
Loans and Advances made 2,40,93,592 4,00,92,869
Interest received on loans/deposits 7,71,84,130 8,53,88,453
Proceeds from sale of Fixed assets 2,88,557 1,00,000
(Investments)/Sale of equity shares/preference shares (8,15,70,000) (19,66,60,000)
Share of Profit received from LLP 39,64,938 -
Net Cash Used in Investing activities - ( B ) (6,96,51,142) (40,14,56,293)

C CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Short term borrowings 1,03,50,000 -
Proceeds from Long term borrowings 34 8,21,63,000 3,00,00,000
Grant and Subsidy received from Government - 9,14,41,382
 Purchase of Fixed Assets including Capital WIP (9,36,12,359) (33,03,77,615)
Loans and Advances made 2,40,93,592 4,00,92,869
Interest received on loans/deposits 7,71,84,130 8,53,88,453
Proceeds from sale of Fixed assets 2,88,557 1,00,000
ANNUAL
(Investments)/Sale of equity shares/preference shares (8,15,70,000) (19,66,60,000)
REPORT
Share of Profit received from LLP 39,64,938 2016-2017 -
Net Cash Used in Investing activities - ( B ) (6,96,51,142) (40,14,56,293)

C CASH FLOW FROM FINANCING ACTIVITIES

Proceeds from Short term borrowings 1,03,50,000 -
Proceeds from Long term borrowings 8,21,63,000 3,00,00,000
Grant and Subsidy received from Government - 9,14,41,382
Finance costs paid (90,41,727) -
Dividend paid (6,49,65,400) (4,88,13,600)
Dividend Distribution tax paid (1,32,75,385) (99,56,538)
Net Cash Generated By Financing Activities - ( C ) 52,30,488 6,26,71,244
Net increase in Cash and Cash equivalents (A+B+C) 15,66,40,633 (22,31,50,213)
Cash and Cash equivalents at the beginning of the year 18,46,44,159 40,77,94,372
Closing Cash And Cash Equivalents 34,12,84,792 18,46,44,159

Cash and cash equivalents at the end of the year includes Rs.7,84,33,734/- (Rs.5,34,61,396/-)held under
lien, Rs.5,70,406/- (Rs.3,25,006/-) deposited in unpaid dividend account which is earmarked for payment of
dividend and Rs.1,00,99,500/- (Rs.NIL/-) deposited in Deposit Repayment Reserve which is earmarked for
repayment of public deposits.

For and on behalf of the Board of Directors As per our separate report of even date attached

T. Balakrishnan, Managing Director M.M. Abdul Basheer, Director For Varma & Varma
DIN: 00052922 DIN: 00120916 Chartered Accountants
Firm No.004532

K. Padmadasan, George Raphael, Vijay Narayan Govind

Company Secretary Chief Financial Officer (Partner) Membership
No.203094
Place : Kochi
Date : 23.06.2017

35

SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON
ACCOUNTS FOR THE
FINANCIAL YEAR ENDED 31st MARCH 2017
1. Significant Accounting Policies
a. Basis of Accounting
The financial statements of the Company have been
prepared in accordance with generally accepted
accounting principles in India (Indian GAAP). The
Company has prepared these financial statements
to comply in all material respects with the Accounting
Standards specified under Section 133 of the Act,
read with Rule 7 of the Companies (Accounts) Rules,
2014. The financial statements have been prepared
on an accrual basis and under the historical cost
convention. The accounting policies adopted in the
preparation of financial statements are consistent
with those of previous year.
b. Use of Estimates
The presentation of financial statements in
conformity with the generally accepted accounting
principles require estimates and assumptions to
be made that affect the reported amount of assets
and liabilities on the date of the financial statements
and the reported amount of revenues and expenses
during the reporting period. Difference between the
actual result and estimates are recognized in the
period in which the results are known /materialized.
c. Tangible Assets (Property, Plant and Equipment)
Property, Plant and Equipments are stated at cost
less accumulated depreciation and impairment in
value if any. Cost includes purchase price (inclusive
of non – refundable purchase taxes, after deducting
trade discounts and rebates), other costs directly
attributable to bringing the asset to the location and
condition necessary for it to be capable of operating
in the manner intended by management.
When parts of an item of property, plant and equipment
have different useful lives, they are accounted for as
separate items (Major components).
Land acquired on long term lease arrangements that
are in the nature of financial leases are classified
under Fixed Assets and amortised over the lease
period. Buildings constructed on such land are
36
ANNUAL
REPORT
2016-2017
capitalised and depreciated as per company’s
accounting policy. Such land and building are
reclassified and treated as Current Assets (at Net
Book Value) when the decision to dispose under
long-term finance leases is conclusively taken by
the management.
The cost of assets not ready for use at the balance
sheet date are disclosed under Capital Work in
Progress.
d. Intangible Assets
Intangible assets are recorded at the cost of
acquisition of such assets and are carried at cost
less accumulated amortisation and impairment, if any.
e. Depreciation/ Amortisation
Depreciation on property, plant and equipments
is provided on Written Down Value Method on the
basis of the useful lives in the manner prescribed as
per Schedule II of The Companies Act, 2013 based
on a review by the management at the year end.
Leasehold land is amortised over the duration of the
lease. Cost of software treated as Intangible Assets
are amortised over a period of six years.
f. Government Grant/Subsidies
Grants and Subsidies in the nature of Promoters
contribution or identifiable with non depreciable
assets are credited to capital reserve.
Grants and Subsidies, specifically identifiable
with capital assets other than depreciable assets,
are credited to the carrying cost of the respective
asset. Grants/Subsidies in the nature of revenue are
recognized as income over the period necessary to
match them with the related costs which they are
intended to compensate.
g. Investments
Non-Current Investments are stated at cost. Decline
in value, if any, which is not considered temporary in
nature, is provided for.

h. Revenue Recognition
Revenue arising on disposal of current assets under
long-term lease arrangements that are in nature of
financial leases is recognised in the year in which
the lease agreements are entered into.
Proportionate income during the period of license
agreement and income from other arrangements
which are in the nature of operating leases, are
recognized as income in the respective years.
Income from services rendered are recognized
based on the stage of completion of the respective
contracts/arrangements having regard to the specific
milestones wherever specified therein.
Other income are recognized on accrual basis
except when there are significant uncertainties.
i. Employee Benefits
i. Short Term Employee Benefits
All employee benefits payable wholly within twelve
months of rendering the service are classified as
short-term employee benefits and recognized
in the period in which the employee renders the
related service.
ii. Defined Contribution Plans
The company has defined contribution plans
for employees comprising of Provident Fund,
Employee’s State Insurance and National
Pension Scheme . The contributions paid/payable
to these plans during the year are charged to the
Statement of Profit and Loss for the year.
iii. Defined Benefit Plans: Gratuity (Funded) &
Long term employee benefits:
Compensated absences (Funded).
a) Gratuity
The company makes contributions to the
Employee’s Group Gratuity-cum-Life Assurance
Scheme of the Life Insurance Corporation of
India. The net present value of the obligation
for gratuity benefits as determined on actuarial
valuation conducted annually using the projected
unit credit method, as adjusted for unrecognised
past services cost, if any, and as reduced by
the fair value of plan assets, is recognised in
the accounts. Actuarial gains and losses are
recognised in full in the Statement of Profit and
Loss for the period in which they occur.
37
ANNUAL
REPORT
2016-2017
b) Compensated absences
The company has a scheme for compensated
absences for employees, the liability of which is
determined on the basis of an actuarial valuation
carried out at the end of the year. Actuarial gains
and losses are recognised in full in the Statement
of Profit and Loss for the period in which they
occur.
iv. Termination Benefits
Termination benefits are recognized in the
Statement of Profit and Loss for the period in
which the same accrue.
j. Income Tax
Income tax is accounted in accordance with
Accounting Standard on Accounting for Taxes
on Income (AS-22), which includes current taxes
and deferred taxes. Deferred Tax assets/ liabilities
representing timing differences between accounting
income and taxable income are recognised to
the extent considered capable of being reversed
in subsequent years. Deferred tax assets are
recognised only to the extent there is reasonable
certainty that sufficient future taxable income will
be available, except that deferred tax assets arising
due to unabsorbed depreciation and losses are
recognised if there is a virtual certainty that sufficient
future taxable income will be available to realise the
same. MAT credit is recognised as an asset only
when and to the extent there is convincing evidence
that the company will pay normal income tax during
the specified period. In the year in which the Minimum
Alternative Tax (MAT) credit becomes eligible to
be recognised as an asset in accordance with the
recommendations contained in the Guidance Note
issued by the Institute of Chartered Accountants of
India, the said asset is created by way of a credit
to the Statement of Profit and Loss and shown as
MAT Credit Entitlement. The Company reviews the
same at each balance sheet date and writes down
the carrying amount of MAT Credit Entitlement to
the extent there is no longer convincing evidence to
the effect that the Company will pay normal Income
Tax during the specified period.
k. Foreign Currency Transactions
Transactions in foreign currencies are recorded
at the exchange rate prevailing on the date of the
transaction. Monetary assets and liabilities other
than forward contracts, outstanding at the Balance

Sheet date are translated at the applicable exchange
rates prevailing at the said date. The exchange
gain/loss arising during the year are adjusted to the
Statement of Profit and Loss.
l. Borrowing Costs
Borrowing costs that are directly attributable to the
acquisition, construction or production of an asset
that takes a substantial period of time to get ready
for its intended use are capitalised. Other borrowing
costs are recognized as expenditure for the period
in which they are incurred.
m. Earnings per share
Basic/ diluted earnings per share is calculated by
dividing the net profit or loss for the year attributable
to equity shareholders (after deducting attributable
taxes) by the weighted average number of equity
shares/ dilutive potential equity shares outstanding
as at the end of the year as the case may be.
n. Impairment of Assets
The company assesses at each Balance Sheet date
whether there is any indication that an asset may be
impaired. An asset is identified as impaired, when the
carrying value of the asset exceeds its recoverable
value. Based on such assessment, impairment loss
38
ANNUAL
REPORT
2016-2017
if any is recognized in the Statement of Profit and
Loss of the period in which the asset is identified
as impaired. The impairment loss recognised in
the prior accounting periods is reversed if there
has been a change in the estimate of recoverable
amount.
o. Provisions, Contingent Liabilities and
Contingent Assets
Provisions are recognised when the company has
a present obligation as a result of a past event,
for which it is probable that a cash outflow will be
required and a reliable estimate can be made of
the amount of the obligation. Provisions are not
discounted to its present value and are determined
based on management estimate required to settle
the obligation at the Balance Sheet date. These are
reviewed at each Balance Sheet date and adjusted
to reflect the correct management estimates.
Contingent Liabilities are disclosed when the
company has a possible obligation or a present
obligation and it is probable that a cash flow will not
be required to settle the obligation.
Contingent assets are neither recognized nor
disclosed in the accounts.
 ANNUAL
REPORT
2016-2017

NOTES FORMING PART OF BALANCE SHEET AS AT

31st MARCH 2017

NOTE - 2.1 SHARE CAPITAL (In Rupees)

As at 31.03.2017 As at 31.03.2016
Particulars Number of Number of
Amount Amount
Shares Shares
Authorised Equity Share Capital
Equity Shares of Rs 10/-(Rs. 10/-) each 20,00,00,000 2,00,00,00,000 20,00,00,000 2,00,00,00,000
20,00,00,000 2,00,00,00,000 20,00,00,000 2,00,00,00,000
Issued, Subscribed and Paid up
Equity Shares of Rs 10/-(Rs. 10/-) each 16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000

16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000

As at 31.03.2017 As at 31.03.2016
2.1.1 Terms/Particulars
Rights attached to Equity NumberShares
of Number of
Amount Amount
Shares Shares
The company has only one class of shares referred to as As equity shares with a face value
at 31.03.2017 AsofatRs.10/-
31.03.2016(Rs.10/-)
each. Each holder
Authorised of equity
Equity Share share is entitled to one voteNumber
Particulars
Capital per share.
of The company declares and of
Number pays dividends in
Amount Amount
Indian
EquityRupees. The
Shares of Rs dividend proposed
10/-(Rs. 10/-) each / declared by the Board
20,00,00,000 of Directors is subject
2,00,00,00,000
Shares to approval
20,00,00,000Shares / regularisation
2,00,00,00,000
ofEquity
the shareholders’
Shares in the ensuing Annual20,00,00,000
General Meeting. In the event of
2,00,00,00,000 liquidation of2,00,00,00,000
20,00,00,000 the company, the
holders
As
Issued, of
at the equity shares
beginning
Subscribed of the
and willupbe entitled
financial
Paid year to receive remaining assets
16,30,27,000 of the company
1,63,02,70,000 after distribution
16,30,27,000 of all
1,63,02,70,000
preferential
Shares amounts,
issued
Equity Shares during
of in proportion
the financial
Rs 10/-(Rs. to the number
year
10/-) each of equity1,63,02,70,000
16,30,27,000 shares- held by the shareholders.
-
16,30,27,000 -
1,63,02,70,000 -
As at the end of the financial year 16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000
Reconciliation of shares at the beginning and at the end
16,30,27,000 of the financial
1,63,02,70,000 year
16,30,27,000 1,63,02,70,000
Particulars of Shareholders holding more than 5%
share in the Company (In Rupees)
Govt. of Kerala - 24.84 % (Previous year 24.84 %) 4,05,00,000 40,50,00,000 4,05,00,000 40,50,00,000
Bismi Holdings Ltd - 6.75 % (Previous year 6.75 %) As at 31.03.2017
1,10,00,000 11,00,00,000 As at 31.03.201611,00,00,000
1,10,00,000
Particulars Number of Number of
Shri.Yusuffali M A - 15.13 % (Previous year 15.13 %) 2,46,66,000 Amount
24,66,60,000 2,46,66,000 Amount 24,66,60,000
Shares Shares
Shri.Varghese Kurian - 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000 11,00,00,000
Equity Shares
Dr.Mohamed Ali - 6.44 % (Previous year 6.44 %) 1,05,00,000 10,50,00,000 1,05,00,000 10,50,00,000
As at the beginning of the financial year 16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000
Shares issued during the financial year - - - -
As at the end of the financial year Particulars 16,30,27,000 1,63,02,70,000 16,30,27,000
As at 31.03.2017 1,63,02,70,000
As at 31.03.2016
Particulars of Shareholders holding more than 5%
Surplus
Opening the Company
share inbalance 26,56,63,151 21,80,03,462
Govt. of Kerala - 24.84
Net Profit after tax as per%Statement
(Previous year 24.84
of Profit and%)Loss 4,05,00,000 40,50,00,000 7,28,90,317
4,05,00,000 40,50,00,000
12,61,45,874
Bismi Holdings Ltd - 6.75 % (Previous
Amount available for appropriation year 6.75 %) 1,10,00,000 11,00,00,00033,85,53,468
1,10,00,000 11,00,00,000
34,41,49,336
Shri.Yusuffali M A - 15.13 % (Previous year 15.13 %) 2,46,66,000 24,66,60,000 2,46,66,000 24,66,60,000
Shri.Varghese
Less: Kurian - 6.75 % (Previous year 6.75 %)
Appropriations 1,10,00,000 11,00,00,000 1,10,00,000 11,00,00,000
Dr.Mohamed Ali
Proposed Dividend - 6.44
(See%Note
(Previous
2.2.1) year 6.44 %) 1,05,00,000 10,50,00,000 1,05,00,000
- 10,50,00,000
6,52,10,800
Tax on proposed dividend - 1,32,75,385
Total Appropriations Particulars As at 31.03.2017 - 7,84,86,185
As at 31.03.2016
Closing Balance 33,85,53,468 26,56,63,151
Surplus
Opening
Total balance
Surplus 26,56,63,151
33,85,53,468 21,80,03,462
26,56,63,151
Net Profit after tax as per Statement of Profit and Loss 7,28,90,317 12,61,45,874
Amount available for appropriation 33,85,53,468 34,41,49,336
Particulars As at 31.03.2017 As at 31.03.2016
Less: Appropriations
Proposed Dividend (See Note 2.2.1) - 6,52,10,800
(a) Loans from Other parties
Tax on proposed dividend
Unsecured (See Note 2.3.1) 39 -
3,00,00,000
1,32,75,385
3,00,00,000
Total Appropriations - 7,84,86,185
(b) Deposits
Closing Balance 33,85,53,468 26,56,63,151
 Shares issued during the financial year As at 31.03.2017
16,30,27,000 -
1,63,02,70,000 - As at 31.03.2016
16,30,27,000 - 1,63,02,70,000 -
As at the end ofParticulars
the financial year Number of 16,30,27,000 1,63,02,70,000
Number of
16,30,27,000 1,63,02,70,000
Amount Amount
Shares Shares
Particulars of Shareholders holding more than 5%
Authorised
share in theEquity
CompanyShare Capital As at 31.03.2017 As at 31.03.2016
Govt.
EquityofShares
Keralaof- 24.84 Particulars
% (Previous
Rs 10/-(Rs. Number
year 24.8420,00,00,000
10/-) each %) of
4,05,00,000 40,50,00,000
2,00,00,00,000 Number
4,05,00,000
20,00,00,000 ANNUAL
of 2,00,00,00,000
40,50,00,000
Amount REPORT Amount
Bismi Holdings Ltd - 6.75 % (Previous year 6.75 %)
20,00,00,000Shares
1,10,00,000 11,00,00,000
2,00,00,00,000 Shares 2,00,00,00,000
1,10,00,000
20,00,00,000 11,00,00,000
Equity 2016-2017
Issued,Shares
Shri.Yusuffali M A - 15.13
Subscribed % (Previous
and Paid up year 15.13 %) 2,46,66,000 24,66,60,000 2,46,66,000 24,66,60,000
As at the
Equity beginning
Shri.Varghese
Shares of Rsof10/-(Rs.
Kurian -the financial
6.75 %10/-) year year 6.75
(Previous
each %) 16,30,27,000
1,10,00,000
16,30,27,000 1,63,02,70,000
11,00,00,000
1,63,02,70,000 16,30,27,000
1,10,00,000
16,30,27,000 1,63,02,70,000
11,00,00,000
1,63,02,70,000
NOTE
Shares -issued
Dr.Mohamed 2.2 Aliduring
RESERVES
- 6.44the &year
% financial
(Previous SURPLUS
year 6.44 %) -
1,05,00,000 -
10,50,00,000 -
1,05,00,000 -
10,50,00,000
As at the end of the financial year 16,30,27,000
16,30,27,000 1,63,02,70,000
1,63,02,70,000 16,30,27,000
16,30,27,000 (In Rupees)
1,63,02,70,000
1,63,02,70,000
Particulars of Shareholders holding more than 5%
Particulars As at 31.03.2017 As at 31.03.2016
share in the Company
Surplus
Govt. of Kerala - 24.84 % (Previous year 24.84 %) 4,05,00,000 40,50,00,000 4,05,00,000
As at 31.03.2017 40,50,00,000
As at 31.03.2016
Opening balanceLtd - 6.75
Bismi Holdings Particulars
% (Previous year 6.75 %) 1,10,00,000
Number of 26,56,63,151
11,00,00,000 1,10,00,000
Number of 21,80,03,462
11,00,00,000
Net Profit afterM taxA as per Statement of Profit Amount 7,28,90,317 Amount
Shri.Yusuffali - 15.13 % (Previous yearand Loss
15.13 %) 2,46,66,000
Shares 24,66,60,000 2,46,66,000
Shares
12,61,45,874
24,66,60,000
Amount available for appropriation
Equity SharesKurian - 6.75 % (Previous year 6.75 %) 33,85,53,468 34,41,49,336
Shri.Varghese 1,10,00,000 11,00,00,000 1,10,00,000 11,00,00,000
As at the beginning
Dr.Mohamed of the
Ali - 6.44 financial year
% (Previous year 6.44 %) 16,30,27,000
1,05,00,000 1,63,02,70,000
10,50,00,000 16,30,27,000
1,05,00,000 1,63,02,70,000
10,50,00,000
Less: Appropriations
Shares issued during the financial year - - - -
Proposed Dividend (See Note 2.2.1) - 6,52,10,800
As at the end of the financial year 16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000
Tax on proposed dividend Particulars -
As at 31.03.2017 1,32,75,385
As at 31.03.2016
Total Appropriations
Particulars of Shareholders holding more than 5% - 7,84,86,185
Surplus
Closing
share inBalance
the Company 33,85,53,468 26,56,63,151
Opening balance 26,56,63,151 21,80,03,462
Govt. of Kerala - 24.84 % (Previous year 24.84 %) 4,05,00,000 40,50,00,000 4,05,00,000 40,50,00,000
Net Profit after tax as per Statement of Profit and Loss 7,28,90,317 12,61,45,874
Total
Bismi Surplus
Holdings Ltd - 6.75 % (Previous year 6.75 %) 1,10,00,000 33,85,53,468
11,00,00,000 1,10,00,000 26,56,63,151
11,00,00,000
Amount available for appropriation 33,85,53,468 34,41,49,336
Shri.Yusuffali M A - 15.13 % (Previous year 15.13 %) 2,46,66,000 24,66,60,000 2,46,66,000 24,66,60,000
Shri.Varghese Kurian - 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000 11,00,00,000
Less: Appropriations
2.2.1 The Board
Dr.Mohamed Ali - of
6.44Directors
% (Previous
Proposed Dividend (See Note 2.2.1)
Particulars
of the company
year 6.44 %) has proposed final dividend
1,05,00,000
As at 31.03.2017
of Rs. 0.30/-
10,50,00,000
As at 31.03.2016
(Rs.0.40/-)6,52,10,800
1,05,00,000
-
per share,
10,50,00,000
which
Tax
is subject
on proposed
to approval
dividend
by the shareholders at the ensuing Annual General Meeting. -
In accordance with the
1,32,75,385
(a) Loans
revised from Other
Accounting parties
Standard-4’ Contingencies and Events occurring after the Balance Sheet Date’ (effective
Total Appropriations Particulars As at -
31.03.2017 7,84,86,185
from Unsecured
01.04.2016)
Closing Balance
(Seeproposed
Note 2.3.1)dividend for the year and Corporate Dividend Tax thereon has notAs
3,00,00,000
33,85,53,468
at 31.03.2016
been 3,00,00,000
recognised
26,56,63,151
asSurplus
(b)a Deposits
distribution of profit in the current year’s accounts.
Unsecured
Opening (See Note 2.3.2)
balance 8,21,63,000
26,56,63,151 -
21,80,03,462
Total Surplus 33,85,53,468 26,56,63,151
NOTE - 2.3 LONG TERM BORROWINGS
Net Profit after tax as per Statement of Profit and Loss 11,21,63,000
7,28,90,317 3,00,00,000
12,61,45,874
(In Rupees)
Amount available for appropriation 33,85,53,468 34,41,49,336
Particulars As at 31.03.2017 As at 31.03.2016
Less: Appropriations Cumulative basis Non-Cumulative basis
Terms of repayment
Proposed Rate Amount Rate Amount
(a) Loans Dividend
from Other (See Note 2.2.1)
parties - 6,52,10,800
Within
Tax on 1 year
proposed dividend 10.92% 71,21,000 10.50% - 32,29,000
1,32,75,385
Unsecured (See Note 2.3.1) 3,00,00,000 3,00,00,000
Within
Total 2 years
Appropriations 11.46% 57,20,000 11.00% - 26,00,000
7,84,86,185
(b) Deposits
Within 3 years 12.01% 3,51,89,000 11.50% 3,86,54,000
Closing Balance
Unsecured (See Note 2.3.2) 33,85,53,468
8,21,63,000 26,56,63,151
-
Total 4,80,30,000 4,44,83,000
11,21,63,000 3,00,00,000
Total Surplus 33,85,53,468 26,56,63,151

2.3.1 The above interest free loan was sanctioned by the State Level Export Promotion Committee (SLEPC)
Cumulative basis Non-Cumulative basis
under theTerms
Assistance to States forParticulars
of repayment developing Export Infrastructure and other Allied
As at Activities As
31.03.2017 (ASIDE) Scheme
at 31.03.2016
Rate Amount Rate Amount
implemented
A. Deferred by Kerala
Tax Industrial Infrastructure Development Corporation (KINFRA) acting as the Government
Liability
Within 1 year 10.92% 71,21,000 10.50% 32,29,000
of(a)
Kerala
On Loans
excessappointed
from
of netOther
bookNodal
valueagency.
parties Thetax
over Income loan is repayable
written in of
down value three annual
fixed assets instalments of Rs.1 crore each
6,28,66,589 starting
5,61,64,244
Within 2 years 11.46% 57,20,000 11.00% 26,00,000
from the fourth
Unsecured
Within 3 years
year
(See of
Note disbursment,
2.3.1) to be paid
12.01%
before 31st March 2019,
3,51,89,000
31st March 2020
3,00,00,000
11.50%
& 31st March 2021
3,00,00,000
3,86,54,000
B. Deferred Tax Assets
respectively.
(b) Deposits
Total 4,80,30,000 4,44,83,000
On Provisions/other disallowances 27,74,243 23,38,204
Unsecured (See Note 2.3.2) 8,21,63,000 -
2.3.2 Deposits
Net Deferred Taxaccepted
Liability from various parties and interest thereon are repayable over the agreed5,38,26,040
6,00,92,346
11,21,63,000 terms.The
3,00,00,000
details are as follows:
(In Rupees)
Particulars As at 31.03.2017 As at 31.03.2016
Cumulative basis Non-Cumulative basis
Terms
A. Deferred Taxof repayment
Liability Rate Amount Rate Amount
On excess
Within of net book value over Income tax written
1 year down value of fixed
10.92% assets
71,21,000 6,28,66,589
10.50% 5,61,64,244
32,29,000
Particulars As at 31.03.2017 As at 31.03.2016
Within 2 years
B. Deferred Tax Assets 11.46% 57,20,000 11.00% 26,00,000
Security
Within
On Deposits disallowances
3 years
Provisions/other 12.01% 3,51,89,000 40,96,530
11.50%
27,74,243 63,53,240
3,86,54,000
23,38,204
Interest accrued but not due on borrowings
Total 4,80,30,000 23,32,092 -
4,44,83,000
Net Deferred Tax Liability 6,00,92,346
64,28,622 5,38,26,040
63,53,240
Interest is payable on a quarterly / maturity basis in accordance with the terms agreed with the depositors.

Particulars As at 31.03.2017 As at 31.03.2016
A. Deferred Tax Liability
40
Particulars As at 31.03.2017 As at 31.03.2016
Particulars
On excess of net book value over Income tax written down value of fixed assets As at 31.03.2017
6,28,66,589 As at 31.03.2016
5,61,64,244
Provision for employee benefits (See Note-2.29)
Security
B. Deposits
Deferredfor
- Provision Tax Assets
Leave Encashment
40,96,530
34,51,389
63,53,240
22,54,189
 Terms of repayment Cumulative basis Non-Cumulative Amount
basis
Within 1 year
Terms of repayment Rate
10.92% Amount
71,21,000 Rate
10.50% 32,29,000
Cumulative basis Non-Cumulative basis
Within 1 Terms of repayment
2 year
years Rate
10.92%
11.46% Amount
71,21,000
57,20,000 Rate
10.50%
11.00% Amount
32,29,000
26,00,000
Rate Amount
Cumulative basis Rate Amount
Non-Cumulative basis
Within 2
Within 1 years
3 year
Terms of repayment 10.92%
11.46%
12.01% 71,21,000
57,20,000
3,51,89,000 10.50%
11.00%
11.50% 32,29,000
26,00,000
3,86,54,000
Within 1 year 10.92%
Rate 71,21,000
Amount 10.50%
Rate 32,29,000
Amount
Within 3
Within
Total 2 years
years 11.46%
12.01% 57,20,000
3,51,89,000
4,80,30,000 11.00%
11.50% 26,00,000
3,86,54,000
4,44,83,000
Within
Within 2 years 11.46% 57,20,000 11.00% 26,00,000
Within 1
Total 3 year
years 10.92%
12.01% 71,21,000
3,51,89,000
4,80,30,000
10.50%
11.50% 32,29,000
3,86,54,000
4,44,83,000
Within 2
Within 3 years
Total years
12.01%
11.46% 3,51,89,000
57,20,000
4,80,30,000
11.50%
11.00% ANNUAL
3,86,54,000
26,00,000
4,44,83,000
Total 3 years
Within 12.01% 4,80,30,000
3,51,89,000 11.50% REPORT
4,44,83,000
3,86,54,000
2016-2017
Total 4,80,30,000 4,44,83,000
Particulars As at 31.03.2017 As at 31.03.2016
Particulars As at 31.03.2017 As at 31.03.2016
NOTE - 2.4TaxDEFERRED
A. Deferred Liability TAX LIABILITIES (NET)
Particulars As at 31.03.2017 As at (In Rupees)
31.03.2016
A. Deferred
On excess ofTax
net Liability
book value over Income tax written down value of fixed assets
Particulars 6,28,66,589
As at 31.03.2017 5,61,64,244
As at 31.03.2016
A. Deferred Tax Liability
On excess of net book value over Income tax written down value of fixed assets 6,28,66,589 As at 31.03.2016
5,61,64,244
A. Deferred Tax
Tax Liability Particulars As at 31.03.2017
B. Deferred
On excess of net Assets
book value over Income tax written down value of fixed assets 6,28,66,589 5,61,64,244
On
A. excess
B. Deferred
On ofTax
net Assets
book value over Income tax written down value of fixed assets
Liability
Provisions/other disallowances 6,28,66,589
27,74,243 5,61,64,244
23,38,204
B. Deferred
On excess ofTax
net Assets
book
Provisions/other value over Income tax written down value of fixed assets
disallowances 6,28,66,589
27,74,243 5,61,64,244
23,38,204
B.
NetDeferred
DeferredTax
TaxAssets
Liability 6,00,92,346 5,38,26,040
On Provisions/other disallowances 27,74,243 23,38,204
NetDeferred
On
B. DeferredTax
TaxAssets
Liability
Provisions/other disallowances 6,00,92,346
27,74,243 5,38,26,040
23,38,204
Net Deferred Tax Liability
On 6,00,92,346 5,38,26,040
NetProvisions/other disallowances
Deferred Tax Liability 27,74,243
6,00,92,346 23,38,204
5,38,26,040
Net Deferred Tax Liability 6,00,92,346 5,38,26,040

Particulars As at 31.03.2017 As at 31.03.2016

NOTE - 2.5 OTHER LONGParticulars
TERM LIABILITIES As at 31.03.2017 As at (In Rupees)
31.03.2016
Security Deposits Particulars 40,96,530
As at 31.03.2017 63,53,240
As at 31.03.2016
Security
Interest accrued Particulars
Depositsbut not due on borrowings As at 31.03.2017
40,96,530
23,32,092 As at 31.03.2016
63,53,240
-
Securityaccrued
Interest Depositsbut not due on borrowings
Particulars 40,96,530
23,32,092
64,28,622
As at 31.03.2017 63,53,240
-
63,53,240
As at 31.03.2016
Security Deposits 40,96,530 63,53,240
Interest accrued but not due on borrowings 23,32,092
64,28,622 -
63,53,240
Interest accrued
Security Depositsbut not due on borrowings 23,32,092
40,96,530 -
63,53,240
64,28,622 63,53,240
Interest accrued but not due on borrowings 64,28,622
23,32,092 63,53,240
-
64,28,622 63,53,240
NOTE - 2.6 LONG TERM PROVISIONS
Particulars As at 31.03.2017 As at 31.03.2016
(In Rupees)
Particulars As at 31.03.2017 As at 31.03.2016
Provision for employee benefits (See Note-2.29)
Particulars As at 31.03.2017 As at 31.03.2016
Provision
- Provisionfor
foremployee benefits (See
Leave Encashment Note-2.29)
Particulars As at 31.03.2017
34,51,389 As at 31.03.2016
22,54,189
Provision
- Provisionfor
foremployee benefits (See
Leave Encashment Note-2.29)
Particulars 34,51,389
As at 31.03.2017 22,54,189
As at 31.03.2016
Provision for employee benefits (See Note-2.29)
- Provision for Leave Encashment 34,51,389
34,51,389 22,54,189
22,54,189
- Provisionfor
Provision foremployee
Leave Encashment
benefits (See Note-2.29) 34,51,389 22,54,189
34,51,389 22,54,189
- Provision for Leave Encashment 34,51,389 22,54,189
34,51,389 22,54,189
NOTE - 2.7 SHORT TERM BORROWINGS
Particulars As at 31.03.2017 As at (In Rupees)
31.03.2016
Particulars As at 31.03.2017 As at 31.03.2016
Deposits Particulars As at 31.03.2017 As at 31.03.2016
Deposits
Unsecured (See Note 2.3.2) Particulars As at 31.03.2017
1,03,50,000 As at 31.03.2016-
Deposits
Unsecured (See Note 2.3.2) Particulars 1,03,50,000
As at 31.03.2017 As at 31.03.2016-
Deposits 1,03,50,000 --
Unsecured (See Note 2.3.2) 1,03,50,000
Unsecured (See Note 2.3.2)
Deposits 1,03,50,000 -
Unsecured (See Note 2.3.2) 1,03,50,000
1,03,50,000 ---
1,03,50,000
NOTE - 2.8 TRADE PAYABLES 1,03,50,000 (In Rupees)
-

Particulars As at 31.03.2017 As at 31.03.2016

Particulars As at 31.03.2017 As at 31.03.2016
Trade Payables (See Note 2.8.1) Particulars As at 31.03.2017 As at 31.03.2016
Trade
i. Total Payables
outstanding (Seedues
Noteof2.8.1) Particulars
micro enterprise and small enterprise As at 31.03.2017 - As at 31.03.2016
3,13,999
Trade
i. Total Payables
outstanding (Seedues
Noteof2.8.1) Particulars
micro enterprise and small enterprise As at 31.03.2017 -
3,88,81,323 As at 31.03.2016
3,13,999
96,50,437
Trade
ii. Payables
Total outstanding (See dues
Noteother
2.8.1)than micro enterprise and small enterprise
i. Total outstanding dues of micro enterprise and small enterprise -
3,88,81,323 3,13,999
96,50,437
i. Total
ii.
Trade Total outstanding
outstanding
Payables (Seedues
Noteof
dues micro
other
2.8.1) thanenterprise and smalland
micro enterprise enterprise
small enterprise - 3,13,999
3,88,81,323 96,50,437
99,64,436
i.ii. Total
Total outstanding
outstanding dues dues ofother
microthan micro enterprise
enterprise and smalland small enterprise
enterprise 3,88,81,323
-
3,88,81,323
96,50,437
3,13,999
99,64,436
ii. Total outstanding dues other than micro enterprise and small enterprise
3,88,81,323 96,50,437
2.8.1 The outstanding
ii. Total company has dues taken
othersteps to identify
than micro the suppliers
enterprise who qualify under the3,88,81,323
and small enterprise 99,64,436
definition of micro enterprises
99,64,436
and smallenterprises, as defined under the Micro, Small and Medium Enterprises
Particulars As at Development
31.03.2017
3,88,81,323 Act,
As at 2006.
31.03.2016
99,64,436
Intimations
a. Principal have Amount been received
remaining unpaid from some
Particulars
but not due ofasthe at suppliers
the year end regarding their statusAsunder the said
at 31.03.2017 - ActAsas
at at the
31.03.2016
3,13,999
year-end,
a. Interestbased
b. Principal Amount
due onremaining
thereon which, principal
unpaid but
and remaining amount
Particulars
not
unpaid due
as
Particulars atunpaid
astheat the
year to
yearsuch
end. end suppliers as at theAsyear end aggregating
at 31.03.2017
As at 31.03.2017 - As atto Rs.
31.03.2016
3,13,999
As at 31.03.2016-
Nilc.
a. (Rs.3,13,999/-)
b. Principaldue
Interest Amount
paid thereon
by has
the been
remaining
and included
unpaid
remaining
Company
a. Principal Amount remaining unpaid Particulars in but under
not
unpaid
terms of dueatTrade
as
Sectionastheat
16 Payables.
the
year
of year
end.end
Micro,
but not due as at the year end
In
Small the
& opinion
Medium ofthe management, ---
-
there are no
3,13,999
-
3,13,999
As at 31.03.2017 As at 31.03.2016
over due todue
b. Interest
c. Interest
Enterprises
b. Principal
Interest
duethe
paid above
thereon
by parties
and
the Company
Development
thereon and Act and
remaining
2006 the
in along
remaining
terms impact
unpaid as
of Section
with
unpaid the
as of
atasthe interest,
at amount
the16 year
of of
year
end.
Micro,if any, which
Smallmade
payment
end. tomay
& Medium the be payable in accordance -- with the ---
a. Amount remaining unpaid but not due at the year end - 3,13,999
provisions
c. Interest
Enterprises
supplier
c. Interest of
paid
beyond theby
by Act,
the
Development
paid the is not
Act expected
Company
appointed
the Company
2006
dayin termsto
induring
along
terms ofbe
with
the material.
of Section
the
year.
Section
16 ofDisclosures
amount Micro,
of
Small required
payment
& Mediumunder section 22 of -the Micro, Small -
Smallmade
& Medium
to the - -
b. due thereon andAct
remaining unpaid as the16year
at amount of Micro,
end.
and
supplier
d. Medium
Enterprises beyond
Interest paid
Enterprises
c. Interest
Enterprises
Development
due the
and
Development
by
appointed
payable Development
2006
day
Act for
2006
along
during
thealong
periodAct,
with
the the
ofthe
with 2006
year.
delay are as
of
16inofmaking
amount of follows:
payment made to the
payment
payment
Smallmade (which
to thehave -- --
supplier
d. beyond
Interest due thethe
and
Company
appointed
payable day
for
in terms
during of Section
the year. Micro, & Medium
been
supplier
Enterprisespaid but
beyond beyond the
the appointed
Development daythe
Actappointed
2006 period
during
alongday
the of delay
during
withyear.
the thein year)
amount making butpayment
of payment without
made(which
to thehave
adding the - -
d. Interest
been paid due beyond
but and payable for
the appointedthe and
period
day of delay thein year)
making butpayment
without (which have - -
interest
supplier
d. Interest specified
beyonddue and under
the Micro,
appointed
payable Small
day
for during
the theduring
Medium
period year.
of Enterprises
delay in making Development adding
Act, 2006.
payment (which
the
have - -
been paid
interest but beyond
specified the appointed
under Micro, Small andday duringEnterprises
Medium the year) Development
but without Act,
adding the
2006.
been
d. paid but
Interest due beyond
and the appointed
payable for the and day during
period of delay thein year)
making butpayment
without (which
addinghave the - -
interest
e. Interest specified
accrured under Micro,
and Micro,
remainingSmall unpaid Medium
asduring Enterprises
at theEnterprises
year Development Act, 2006.
interest
been specified
paid but beyondunder the Small
appointed andday
Medium the end
year) Development Act, 2006.
but without adding the - -
e. Interest interest
f. Further accruredremaining
and remaining unpaid as at even
the year endsucceeding year, until such - -
interest specified under Micro,dueSmalland payable
and Medium in the
Enterprises Development Act, 2006.
e.
f.
date
e.
f.
Interest
Further
Interest
Further
accrured
wheninterest
the interest
accrured
and remaining
remaining
dues due
as above
and remaining
unpaid
and
unpaid
asactually
payable
areas at even
41
the year
at the year paid end
in the tosucceeding
end the small year, until such
enterprises, for -
-
-
-
date
the wheninterest
purpose remaining
theof interest dues due
disallowance asof and
above
a payable even paid
are actually
deductible in thetounder
expenditure succeeding
the small year, until
enterprises,
section 23 of such
the for - -
f. Further
e. Interest interest
accrured remaining
and due and
remaining unpaidpayable
as at even
the in the
year end succeeding year, until such - -
date when the interest dues as above are actually paid
the purpose of disallowance of a deductible expenditure under section 23 of the to the small enterprises, for
 Particulars As at 31.03.2017 As at 31.03.2016
Particulars
Particulars As at
As at 31.03.2017
31.03.2017 As at
As at 31.03.2016
31.03.2016
Trade Payables (See Note 2.8.1) Particulars As at 31.03.2017 As at 31.03.2016
Trade
Trade Payables
Payables (See Note
Noteof2.8.1)
(Seedues 2.8.1)
i. Total outstanding micro enterprise and small enterprise - ANNUAL
3,13,999
i.i. Total
Total outstanding
outstanding dues of micro
micro enterprise
enterprise and
and small
small enterprise -- 3,13,999
Trade Payables (Seedues
Noteof2.8.1) enterprise 3,88,81,323 3,13,999
REPORT
96,50,437
ii.
i. Total
Total outstanding
outstanding dues
dues other
of than
micro micro enterprise
enterprise and smalland small enterprise
enterprise 3,88,81,323
3,88,81,323
- 96,50,437
96,50,437
3,13,999
ii.
ii. Total
Total outstanding
outstanding dues
dues other
other than
than micro
micro enterprise
enterprise and
and small
small enterprise
enterprise 2016-2017
3,88,81,323 99,64,436
96,50,437
ii. Total outstanding dues other than micro enterprise and small enterprise 3,88,81,323
3,88,81,323 99,64,436
99,64,436
3,88,81,323 (In Rupees)
99,64,436
Particulars As at 31.03.2017 As at 31.03.2016
Particulars
Particulars As
As at
at 31.03.2017
31.03.2017 As
As at
at 31.03.2016
31.03.2016
a. Principal Amount remaining unpaid but not due as at the year end - 3,13,999
a. Principal
a. Interest
PrincipaldueAmount
Amount remaining
remaining unpaid
unpaid butbut not due
not due as atat the
the year
year end
end -- 3,13,999
b. thereon and remaining unpaid as atas
Particulars the year end. As at 31.03.2017- 3,13,999
As at 31.03.2016
-
b.
b. Interest
Interest due
Principaldue thereon
thereon and remaining
and remaining unpaid
unpaid as at the
as atas
the year end. - --
a.
c. Interest Amount
paid by theremaining
Company unpaid but
in terms not due
of Section 16year
at the end.end
year
of Micro, Small & Medium -- 3,13,999
-
c.
c. Interest
b. paid
Interest due
paid by
by the
the Company
thereon Company
andAct in terms
in along
remaining terms of
of Section
unpaid Section
as the16 of
16year
at amount Micro,
of of
Micro,
end. Small &
& Medium
Smallmade Medium --- --
Enterprises Development 2006 with the payment to the
Enterprises
Enterprises
c. Interest Development
Development
paid by the Act
Act
Company2006
2006in along
along
terms with
with
of the
the
Sectionamount
amount
16 of of
of payment
payment
Micro, Small made
made
& to
to the
Mediumthe - -
supplier beyond the appointed day during the year.
supplier
supplier beyond
beyond
Enterprises the appointed
the appointed
Development Act day
2006 during
day during
along the
the
withyear.
year.
the amount of payment made to thehave
d. Interest due and payable for the period of delay in making payment (which - -
d. Interest
supplier due
beyond and
the payable
appointed for
day the period
during the of delay
year. in making payment (which have -- --
been paid but beyond the appointed day during the year) but without addinghave
d. Interest due and payable for the period of delay in making payment (which the
been
been paid
paid
d. Interest but
but beyond
beyond
due and the
the
payable appointed
appointed day
day during
during the
the year)
year) but
but without
without adding
adding the
the
interest specified under Micro,for the and
Small period of delay
Medium in making
Enterprises payment (which
Development have
Act, 2006. - -
interest
interest
been paidspecified
specified under Micro,
under Micro,
but beyond Small and
Small andday
the appointed Medium
Medium Enterprises
duringEnterprises Development
the year) Development Act, 2006.
Act, 2006.
but without adding the
interest specified under Micro, Small and Medium
e. Interest accrured and remaining unpaid as at the year end Enterprises Development Act, 2006. - -
e.
e. Interest accrured
Interest interest and
and remaining
accruredremainingremaining unpaid
unpaid as
as at the
the year
at even year end
endsucceeding year, until such -- --
f. Further due and payable in the - -
f.
f. Further
Further interest
interest remaining
remaining due
due and
and payable
payable even
even in
in the
the succeeding year, until
until such -- --
e. Interest
date whenaccrured and remaining
the interest dues as aboveunpaid areasactually
at the year
paidendtosucceeding
the small year,
enterprises,such
for
date
date
f. when
when
Further the
the interest
interest
interest dues
dues
remaining as
as
due above
above
and are
are actually
actually
payable even paid
paid
in theto
to the
the small
small
succeeding enterprises,
enterprises,
year, until for
for
such - -
the purpose of disallowance of a deductible expenditure under section 23 of the
the purpose
the
date purpose
when of interest
of
the disallowance
disallowance
dues asofabove
of a deductible
a deductible
are expenditure
expenditure
actually paid tounder
under
the section
section
small 23 of
23 of the
the for
enterprises,
Micro, Small and Medium Enterprises Development Act, 2006.
Micro,
Micro,
the Small and
Small
purpose and Medium Enterprises
Medium
of disallowanceEnterprises Development
Development
of a deductible Act, 2006.
Act,
expenditure 2006.
under section 23 of the
Micro, Small and Medium Enterprises Development Act, 2006.

NOTE - 2.9 OTHER CURRENT LIABILITIES (In Rupees)

Particulars As at 31.03.2017 As at 31.03.2016
Particulars
Particulars As
As at
at 31.03.2017
31.03.2017 As
As at
at 31.03.2016
31.03.2016
Accounts payable - Capital 31,50,939 3,60,29,491
Accounts
Accounts payable
payable -- Capital
Capital Particulars As at 31.03.2017
31,50,939
31,50,939 As at 31.03.2016
3,60,29,491
3,60,29,491
Lease hold Premium received in Advance - 46,13,336
Lease
Lease holdpayable
Premium received in Advance -- 46,13,336
Interesthold
Accounts Premium
accrued received
due oninborrowings
- Capital
but not Advance 31,50,939
3,81,868 46,13,336
3,60,29,491
-
Interest
Interest
Lease accrued
accrued
hold but
but
Premium not
not due
due on
on
received inborrowings
borrowings
Advance 3,81,868
3,81,868
- --
46,13,336
Unpaid dividend 5,70,406 3,25,006
Unpaid dividend
Unpaid
Interest dividend
accrued but not due on borrowings 5,70,406
5,70,406
3,81,868 3,25,006
3,25,006
-
Other payables
Other
Other
Unpaidpayables
payables
dividend 5,70,406 3,25,006
Advances from Customers 3,43,49,800 -
OtherAdvances
Advances from
from Customers
payablesMoney
Retention Customers
payable
3,43,49,800
3,43,49,800
30,28,338
--
1,21,66,764
Retention
Retention
Advances Money
Money payable
payable
from Customers 30,28,338
30,28,338
3,43,49,800 1,21,66,764
1,21,66,764
-
Statutory Dues 59,72,544 57,03,888
Statutory
Statutory
Retention Dues
Dues
Money payable 59,72,544
59,72,544
30,28,338 57,03,888
57,03,888
1,21,66,764
Security Deposit / Earnest Money Deposit 2,31,000 3,68,460
Security Deposit
Security
Statutory Deposit
Dues // Earnest
Earnest Money
Money Deposit
Deposit 2,31,000
2,31,000
59,72,544 3,68,460
3,68,460
57,03,888
Security Deposit / Earnest Money Deposit 4,76,84,895
2,31,000 5,92,06,945
3,68,460
4,76,84,895
4,76,84,895 5,92,06,945
5,92,06,945
4,76,84,895 5,92,06,945

NOTE - 2.10 SHORT TERM PROVISIONS (In Rupees)

Particulars As at 31.03.2017 As at 31.03.2016

Particulars
Particulars As
As at
at 31.03.2017
31.03.2017 As
As at
at 31.03.2016
31.03.2016
Provision for employee benefits Particulars As at 31.03.2017 As at 31.03.2016
Provision for
Provision for employee benefits
benefits
-Provision foremployee
Leave Encashment (See Note 2.29) 18,83,441 20,38,319
-Provision for
-Provisionfor
Provision Leave
foremployee Encashment
Leave Encashment
benefits (See Note 2.29)
(See Note 2.29) 18,83,441
18,83,441 20,38,319
20,38,319
-Provision for Gratuity (See Note 2.29) 9,63,151 -
-Provision for Gratuity
-ProvisionDividend
for Gratuity (See Note 2.29)
(See Note 2.29)
Leave Encashment (See Note 2.29) 9,63,151
9,63,151
18,83,441 --
20,38,319
Proposed - 6,52,10,800
Proposed
Proposed
-Provision Dividend
Dividend
for Gratuity (See Note 2.29) --
9,63,151 6,52,10,800
6,52,10,800
-
Tax on Proposed Dividend - 1,32,75,385
Tax on
Tax on Proposed
ProposedProposed
DividendDividend
Dividend -- 1,32,75,385
1,32,75,385
6,52,10,800
Provision for Income tax 2,21,30,252 4,08,34,925
Provision
Provision
Tax for
on ProposedIncome
for Capital
Income tax
tax
Dividend 2,21,30,252
2,21,30,252
-- 4,08,34,925
4,08,34,925
1,32,75,385
Provision for Expenditure for Long Term Finance Lease (See Note No.2.10.1) 22,64,044
Provision for
Provision for Capital
Capital Expenditure
Expenditure
Income tax for Long
for Long Term
Term Finance
Finance Lease
Lease (See
(See Note
Note No.2.10.1)
No.2.10.1) --
2,21,30,252 22,64,044
22,64,044
4,08,34,925
2,49,76,844 12,36,23,473
Provision for Capital Expenditure for Long Term Finance Lease (See Note No.2.10.1) -
2,49,76,844
2,49,76,844 22,64,044
12,36,23,473
12,36,23,473
2,49,76,844 12,36,23,473
2.10.1 Details of Provisions
Balance as at
Additional
Additional
Additional
Amounts used/
Amounts used/
Amounts used/ Unused amounts (In Rupees)
Balance as at
Nature of Provision Balance
Balance as
as at
at Provision during changed during Unused amounts
Unused amounts Balance as
Balance as at
Nature
Nature ofof Provision
Provision 01.04.2016 Provision
Provision during
during
Additional changed
changed
Amounts during
during
used/ reversed 31.03.17 at
01.04.2016
01.04.2016
Balance as at the year the year reversed
reversed
Unused amounts 31.03.17
31.03.17
Balance as at
Nature the year
the year the
the year
changedyear
during
Provision forofCapital
Provision
01.04.2016
Provision during
reversed 31.03.17
Provision
Provision for Capital
forfor
Capital
Expenditure Long Term 22,64,044 the year - the22,64,044
year - -
Expenditure
Expenditure
Finance for
forfor
ProvisionLease Long
Long Term
Capital Term 22,64,044
22,64,044 -- 22,64,044
22,64,044 -- --
Finance
Finance Lease
Lease
Expenditure for Long Term 22,64,044 - 22,64,044 - -
Finance Lease

Particulars As at 31.03.2017 As at 31.03.2016

Particulars
Particulars As at
As at 31.03.2017
31.03.2017 As at
As at 31.03.2016
31.03.2016
Building under construction-Materials in hand 75,000 67,308
Building under
Building under construction-Materials Particulars
construction-Materials in
in hand
hand 42 As at 31.03.2017
75,000
75,000 As at 31.03.2016
67,308
67,308
Building under construction-Materials in hand 75,000 67,308
75,000
75,000 67,308
67,308
 NOTE - 2.11 (In Rupees)
A. TANGIBLE ASSETS - (Property, Plant & Equipment)
GROSS BLOCK DEPRECIATION
SL. Deletions/ NET BLOCK AS NET BLOCK AS
Particulars Additions during Opening Depreciation for Deleted during
NO. Opening Balance Adjustments Closing Balance Closing Balance ON 31.03.2017 ON 31.03.2016
the year Balance the year the year
during the year
1 Freehold Land 30,79,11,893 2,98,18,149 - 33,77,30,042 - - - - 33,77,30,042 30,79,11,893
(18,17,45,828) (12,61,66,065) - (30,79,11,893) - - - - (30,79,11,893) (18,17,45,828)

2 Leasehold Land - See Note 12,30,52,735 - 1,05,20,524 11,25,32,211 67,38,680 13,83,857 6,96,611 74,25,926 10,51,06,285 11,63,14,055
2.10.1 (15,42,85,083) - (3,12,32,348) (12,30,52,735) (67,14,018) (16,49,146) (16,24,484) (67,38,680) (11,63,14,055) (14,75,71,065)

3 Building- See Note 2.10.1 and 23,68,33,562 1,06,61,426 4,72,44,108 20,02,50,880 99,96,285 1,23,66,198 22,58,492 2,01,03,991 18,01,46,889 22,68,37,277
2.10.2 (13,69,55,737) (19,52,16,996) (9,53,39,171) (23,68,33,562) (1,50,69,822) (73,53,286) (1,24,26,823) (99,96,285) (22,68,37,277) (12,18,85,915)

4 Plant & Machinery- See Note 2,21,37,892 2,06,96,475 49,41,827 3,78,92,540 68,87,177 52,09,577 5,47,291 1,15,49,463 2,63,43,077 1,52,50,715
2.10.2 and 2.10.3 (87,41,775) (1,52,38,791) (18,42,674) (2,21,37,892) (33,82,776) (35,06,779) (2,378) (68,87,177) (1,52,50,715) (53,58,999)

5 Furniture and Fittings 1,82,29,668 2,49,900 - 1,84,79,568 87,37,964 28,03,273 - 1,15,41,237 69,38,331 94,91,704
(1,23,96,547) (58,56,221) (23,100) (1,82,29,668) (63,75,027) (23,82,420) (19,483) (87,37,964) (94,91,704) (60,21,520)

6 Office Equipments 33,46,692 1,26,189 11,400 34,61,481 21,07,444 5,62,752 10,830 26,59,366 8,02,115 12,39,248
(31,00,294) (8,99,075) (6,52,677) (33,46,692) (22,05,241) (5,22,246) (6,20,043) (21,07,444) (12,39,248) (8,95,053)

7 Computer 62,35,255 11,03,655 - 73,38,910 45,15,785 13,21,418 - 58,37,203 15,01,707 17,19,470

(45,88,315) (16,55,690) (8,750) (62,35,255) (32,40,109) (12,83,989) (8,313) (45,15,785) (17,19,470) (13,48,206)

8 Motor Car 8,83,724 32,09,154 8,83,724 32,09,154 7,07,556 6,73,617 7,39,452 6,41,721 25,67,433 1,76,168
(8,83,724) - - (8,83,724) (6,17,246) (90,310) - (7,07,556) (1,76,168) (2,66,478)

9 Electrical Fittings 58,83,890 2,20,221 - 61,04,111 15,75,430 11,57,292 - 27,32,722 33,71,389 43,08,460

43
(28,47,812) (39,66,963) (9,30,885) (58,83,890) (19,98,227) (3,33,770) (7,56,567) (15,75,430) (43,08,460) (8,49,585)

72,45,15,311 6,60,85,169 6,36,01,583 72,69,98,897 4,12,66,321 2,54,77,984 42,52,676 6,24,91,629 66,45,07,268 68,32,48,990
Total (A)
(50,55,45,115) (34,89,99,801) (13,00,29,605) (72,45,15,311) (3,96,02,466) (1,71,21,946) (1,54,58,091) (4,12,66,321) (68,32,48,990) (46,59,42,649)

B. INTANGIBLE ASSETS
1 Computer Software 11,78,432 - - 11,78,432 8,18,813 1,33,071 - 9,51,884 2,26,548 3,59,618
(8,78,432) (3,00,000) - (11,78,432) (7,85,150) (33,663) - (8,18,813) (3,59,618) (93,281)

11,78,432 - - 11,78,432 8,18,813 1,33,071 - 9,51,884 2,26,548 3,59,618

Total (B)
(8,78,432) (3,00,000) - (11,78,432) (7,85,150) (33,663) - (8,18,813) (3,59,618) (93,281)
72,56,93,743 6,60,85,169 6,36,01,583 72,81,77,329 4,20,85,134 2,56,11,055 42,52,676 6,34,43,513 66,47,33,816 68,36,08,608
Grand Total (A) + (B)
(50,64,23,547) (34,92,99,801) (13,00,29,605) (72,56,93,743) (4,03,87,616) (1,71,55,609) (1,54,58,091) (4,20,85,134) (68,36,08,608) (46,60,35,930)

2.11.1 Deletions/ Adjustments represents cost of land/ building re-classifed as current asset based on management decision to dispose
the same as per long term finance lease agreement.

2.11.2 Additions during theyear to Building and Plant & Machinery is net of Rs. NIL (Rs.8,62,27,224) and Rs. Nil (Rs.37,72,776)
respectively, being the government grant received under the”Assistance to State for Developing Export Infrastructure and other Allied
Activities “(ASIDE) Scheme.

2.11.3 Additions during the year to Plant & Machinery is net of Rs.Nil (Rs.14,41,382) being subsidy received from Government of Kerala
as per the State Horticulture Mission- Kerala- Hi Tech Agriculture Plan Scheme.
2016-2017
REPORT
ANNUAL
 Additional Amounts used/
Balance as at Additional Amounts used/ Unused amounts Balance as at
Nature of Provision Balance as at Provision during changed during Unused amounts Balance as at
Nature of Provision 01.04.2016 Provision during changed during reversed 31.03.17
01.04.2016 the year the year reversed 31.03.17
the year the year
Provision for Capital
Provision for Capital ANNUAL
Expenditure for Long Term 22,64,044 - 22,64,044 - -
Expenditure for Long Term 22,64,044 - 22,64,044 -REPORT -
Finance Lease
Finance Lease 2016-2017

NOTE - 2.12 CAPITAL WORK IN PROGRESS (In Rupees)

Particulars As at 31.03.2017 As at 31.03.2016
Particulars As at 31.03.2017 As at 31.03.2016
Building under construction-Materials in hand 75,000 67,308
Building under construction-Materials in hand 75,000 67,308

75,000 67,308
75,000 67,308

NOTE - 2.13 NON CURRENT INVESTMENTS (In Rupees)

Particulars As at 31.03.2017 As at 31.03.2016
Particulars As at 31.03.2017 As at 31.03.2016
a) Investments in Equity Instruments
a) Investments in Equity Instruments
(Un-quoted, Trade, at cost)
(Un-quoted, Trade, at cost)
i) In Subsidiary Companies
i) In Subsidiary Companies
- INKEL- KINFRA Infrastructure Projects Ltd 7,40,000 7,40,000
- INKEL- KINFRA Infrastructure Projects Ltd 7,40,000 7,40,000
74,000 (74,000) Equity Shares of Rs.10/- each, fully paid up
74,000 (74,000) Equity Shares of Rs.10/- each, fully paid up
- INKEL- KSIDC Projects Ltd 18,32,34,120 18,32,34,120
- INKEL- KSIDC Projects Ltd 18,32,34,120 18,32,34,120
1,83,23,412 (1,83,23,412) Equity Shares of Rs.10/- each, fully paid up
1,83,23,412 (1,83,23,412) Equity Shares of Rs.10/- each, fully paid up
- INKES Trade Centre Ltd 3,70,00,000 3,70,00,000
- INKES Trade Centre Ltd 3,70,00,000 3,70,00,000
37,00,000 (37,00,000) Equity Shares of Rs.10/- each, fully paid up
37,00,000 (37,00,000) Equity Shares of Rs.10/- each, fully paid up
- INKEL-EKK Roads Pvt Ltd 8,16,00,000 -
- INKEL-EKK Roads Pvt Ltd 8,16,00,000 -
81,60,000 (Nil) Equity Shares of Rs.10/- each, fully paid up
81,60,000 (Nil) Equity Shares of Rs.10/- each, fully paid up

ii) In Associate companies

ii) In Associate companies
- MIV Logistics Pvt Ltd 11,82,97,140 11,82,97,140
- MIV Logistics Pvt Ltd 11,82,97,140 11,82,97,140
1,18,29,714(1,18,29,714) Equity Shares of Rs.10/- each, fully paid up
1,18,29,714(1,18,29,714) Equity Shares of Rs.10/- each, fully paid up

iii) In Joint Ventures

iii) In Joint Ventures
- INKEL-EKK Roads Pvt Ltd
- INKEL-EKK Roads Pvt Ltd
Nil (3,000) Equity Shares of Rs.10/- each, fully paid up - 30,000
Nil (3,000) Equity Shares of Rs.10/- each, fully paid up - 30,000
iv) In Others
iv) In Others
- KV Apartments Pvt Ltd
- KV Apartments Pvt Ltd
50,000 (50,000) Equity Shares of Rs.10/- each, fully paid up 5,00,000 5,00,000
50,000 (50,000) Equity Shares of Rs.10/- each, fully paid up 5,00,000 5,00,000
b) Investments in Preference Instruments
b) Investments in Preference Instruments
(Un-quoted, Trade, at cost)
(Un-quoted, Trade, at cost)
i) In Associate companies
i) In Associate companies
- MIV Logistics Pvt Ltd
- MIV Logistics Pvt Ltd
1,60,00,000 (1,60,00,000) optionally convertible preference shares of Rs.10/-
1,60,00,000 (1,60,00,000) optionally convertible preference shares of Rs.10/-
each, fully paid up 16,00,00,000 16,00,00,000
each, fully paid up 16,00,00,000 16,00,00,000
c) Investment in Limited Liability Partnership(LLP)
c) Investment in Limited Liability Partnership(LLP)
(Un-quoted, Trade, at cost)
(Un-quoted, Trade, at cost)
i) In Jointly Controlled Entity
i) In Jointly Controlled Entity
- Seguro - INKEL Consortium LLP
- Seguro - INKEL Consortium LLP
Investment towards 45% of the capital 4,50,000 4,50,000
Investment towards 45% of the capital 4,50,000 4,50,000
Add: Share of Profit from LLP 1,00,41,773 89,37,675
Add: Share of Profit from LLP 1,00,41,773 89,37,675
1,04,91,773 93,87,675
1,04,91,773 93,87,675
Total capital of the LLP- Rs.10,00,000
Total capital of the LLP- Rs.10,00,000
Total investments (a) + (b) + ( c) 59,18,63,033 50,91,88,935
Total investments (a) + (b) + ( c) 59,18,63,033 50,91,88,935
Aggregate amount of unquoted investments 59,18,63,033 50,91,88,935
Aggregate amount of unquoted investments 59,18,63,033 50,91,88,935

44
 ANNUAL
REPORT
2016-2017

Particulars As at 31.03.2017 As at 31.03.2016

2.13.1 Having regard to the plans for future operations of the subsidiary/
Particulars associate companies
As at 31.03.2017 and the
As at 31.03.2016
realizable value of assets owned by these Companies, the management is of 40,96,530
Security Deposits
Security Deposits the opinion that there
40,96,530 is no
63,53,240
63,53,240
permanent diminution
Interest accrued but not in
duethe
onvalue of such
Particulars
borrowings
Particulars
Interest accrued but not due on borrowings investments. As at 31.03.2017
23,32,092 As at 31.03.2016
As at 31.03.2017
23,32,092 As at 31.03.2016
-
-
64,28,622 63,53,240
Security Deposits 40,96,530
64,28,622 63,53,240
NOTE
Security-Deposits
2.14 LONG
Interest accrued TERM
but not due LOANS AND ADVANCES
on borrowings
40,96,530
23,32,092 (In 63,53,240
Rupees)
-
Interest accrued but not due on borrowings 23,32,092 -
Particulars 64,28,622
As at 31.03.2017 63,53,240
As at 31.03.2016
Particulars 64,28,622
As at 31.03.2017 63,53,240
As at 31.03.2016
Capital Advances 5,68,447 59,27,500
Capital Advances Particulars As at 31.03.2017
5,68,447 As at 31.03.2016
59,27,500
Security Deposits Particulars As at 31.03.2017
15,43,340 As at 31.03.2016
15,82,490
Security Deposits 15,43,340 15,82,490
Advance to Related Parties
Capital
Advance Advances
to Related Parties 5,68,447 59,27,500
Capital Advances
- Seguro - INKEL Consortium LLP 5,68,447
5,31,96,198 59,27,500
10,33,28,594
Security
- SeguroDeposits
- INKEL Consortium LLP 15,43,340
5,31,96,198 15,82,490
10,33,28,594
Security Deposits
Income Tax (Net) 15,43,340
4,25,28,796 15,82,490
4,60,88,185
Advance
Income Taxto Related
(Net) Parties 4,25,28,796 4,60,88,185
Advance to Related Parties
- Seguro - INKEL Consortium LLP 5,31,96,198 10,33,28,594
- Seguro - INKEL Consortium LLP 5,31,96,198
9,78,36,781 10,33,28,594
15,69,26,769
Income Tax (Net) 4,25,28,796
9,78,36,781 4,60,88,185
15,69,26,769
Income Tax (Net) 4,25,28,796 4,60,88,185
NOTE - 2.15 OTHER NON CURRENT ASSETS 9,78,36,781
9,78,36,781 (In Rupees)
15,69,26,769
15,69,26,769
Particulars As at 31.03.2017 As at 31.03.2016
Particulars As at 31.03.2017 As at 31.03.2016
Balance with Banks in Fixed Deposit acccounts (See Note No. 2.15.1) 11,00,500 -
Balance with Banks in Fixed DepositParticulars
acccounts (See Note No. 2.15.1) As at 31.03.2017
11,00,500 As at 31.03.2016
-
Trade Receivables Particulars As at 31.03.2017 As at 31.03.2016
Trade Receivables
(Unsecured Considered good)
Balance withConsidered
(Unsecured Banks in Fixed Deposit acccounts (See Note No. 2.15.1)
good) 11,00,500 -
-Outstanding
Balance for ainperiod
with Banks Fixedexceeding six months(See
Deposit acccounts fromNote
the date
No. they were due for
2.15.1) 11,00,500
- --
-Outstanding
Trade for a period exceeding six months from the date they were due for
Receivables - -
payment
Trade Receivables
payment Considered good)
(Unsecured
-Others Considered good)
(Unsecured 2,46,49,842 2,05,73,000
-Outstanding
-Others for a period exceeding six months from the date they were due for 2,46,49,842
- 2,05,73,000
-
-Outstanding for a period exceeding six months from the date they were due for - -
payment
payment 2,57,50,342 2,05,73,000
-Others 2,46,49,842
2,57,50,342 2,05,73,000
2,05,73,000
-Others 2,46,49,842 2,05,73,000
2.15.1 Rs.11,00,500/- (Rs.Nil) is held against public deposits in pursuance of the requirements
2,57,50,342 of applicable Rules.
2,05,73,000
2,57,50,342 2,05,73,000
Particulars As at 31.03.2017 As at 31.03.2016
NOTE - 2.16 INVENTORIES Particulars As at 31.03.2017 As at 31.03.2016
(In Rupees)
Land and Building held on long term finance lease
Land and Building held on long termParticulars
finance lease As at 31.03.2017 As at 31.03.2016
Opening Balance Particulars -
As at 31.03.2017 -
As at 31.03.2016
Opening Balance - -
Add: Additions during the year 5,92,04,063 11,66,24,551
Land
Add:and Buildingduring
Additions held on
thelong
yearterm finance lease 5,92,04,063 11,66,24,551
Less:
Land and Disposed
Building during
held onthe year
long term finance lease 5,92,04,063 11,66,24,551
Opening Balance
Less: Disposed during the year -
5,92,04,063 -
11,66,24,551
Closing Balance
Opening Balance - --
Add: Additions
Closing Balance during the year 5,92,04,063
- 11,66,24,551
-
Add:
Less:Additions
Disposedduring
duringthe
theyear
year 5,92,04,063
5,92,04,063 11,66,24,551
11,66,24,551
Less: Disposed during the year -
5,92,04,063 -
11,66,24,551
Closing Balance -- --
Closing Balance - -
- -
Particulars As at 31.03.2017
- As at 31.03.2016
-
Particulars As at 31.03.2017 As at 31.03.2016
NOTE - 2.17 TRADE RECEIVABLES
Trade Receivables (In Rupees)
Trade Receivables Particulars As at 31.03.2017 As at 31.03.2016
(Unsecured Considered good) Particulars As at 31.03.2017 As at 31.03.2016
(Unsecured Considered good)
-Outstanding for a period exceeding six months from the date they were due for
-Outstanding
Trade for a period exceeding six months from the date they were due for
Receivables
payment
Trade Receivables 1,61,67,966 69,97,537
payment
(Unsecured Considered good) 1,61,67,966 69,97,537
-Others (See
(Unsecured Note 2.17.1)
Considered good) 14,83,40,907 23,54,53,795
-Outstanding
-Others (See for a period
Note 2.17.1)exceeding six months from the date they were due for 14,83,40,907 23,54,53,795
-Outstanding
payment for a period exceeding six months from the date they were due for 1,61,67,966 69,97,537
payment 16,45,08,873
1,61,67,966 24,24,51,332
69,97,537
-Others (See Note 2.17.1) 14,83,40,907
16,45,08,873 23,54,53,795
24,24,51,332
-Others (See Note 2.17.1) 14,83,40,907 23,54,53,795
Particulars Description As at16,45,08,873
31.03.2017 As at24,24,51,332
31.03.2016
Particulars Description As at 31.03.2017 As at 31.03.2016
MIV Logistics Private Private limited company in which a director of 90,66,462
16,45,08,873 58,35,872
24,24,51,332
MIV Logistics Private Private limited company in which a director of 90,66,462 58,35,872
Limited INKEL Limited is a director
Limited Particulars INKEL Limited is a directorDescription As at 31.03.2017 As at 31.03.2016
Kerala Industrial
Particulars Government of Kerala Description
owned Statutory Body in 76,79,984
As at 31.03.2017 -
As at 31.03.2016
MIV Logistics
Kerala Private
Industrial Private limitedofcompany
Government in which
Kerala owned a director
Statutory Bodyof in 90,66,462
76,79,984 58,35,872
-
Infrastructure
MIV Logistics which alimited
Development Private
Private director of INKEL
company in Limited
which ais a director 90,66,462 58,35,872
INKELaLimited
Infrastructure Development which
Limited directorisofa INKEL
director Limited isdirector of
a director
Corporation (KINFRA)
45
Limited
Kerala Industrial INKEL Limited is a director
Government of Kerala owned Statutory Body in 76,79,984 -
Corporation (KINFRA)
Kerala Industrial
Infrastructure Development Government of Kerala
which a director owned
of INKEL Statutory
Limited Body in
is a director 76,79,984 -
Kerala State Industrial
Infrastructure Development Government
which a of Kerala
director of ownedLimited
INKEL private limited
is a company
director 2,300 10,15,37,226
Corporation (KINFRA)
Kerala State Industrial Government of Kerala owned private limited company 2,300 10,15,37,226
 Particulars
Particulars As at
As at 31.03.2017
31.03.2017 As at
As at 31.03.2016
31.03.2016

Trade Particulars As at 31.03.2017 As at 31.03.2016

Trade Receivables
Receivables
(Unsecured
(Unsecured Considered
Considered good)
good)
Land and Buildingaheld
-Outstanding
-Outstanding for
on long term finance
for a period
period exceeding
exceeding six
lease the date they were due for
six months
months from
from the date they were due for
ANNUAL
Opening
payment Balance -
1,61,67,966 REPORT -
69,97,537
payment 1,61,67,966 69,97,537
2016-2017
Add: Additions
-Others during the year 5,92,04,063 11,66,24,551
-Others (See
(See Note
Note 2.17.1)
2.17.1) 14,83,40,907
14,83,40,907 23,54,53,795
23,54,53,795
Less: Disposed during the year 5,92,04,063 11,66,24,551
Closing Balance - -
2.17.1 Trade Receivables include debts due from: 16,45,08,873
16,45,08,873 24,24,51,332
24,24,51,332
(In Rupees)
Particulars Description As at -
at 31.03.2017
31.03.2017 As at -
at 31.03.2016
31.03.2016
Particulars Description As As
MIV Logistics
MIV Logistics Private
Private Private limited
Private limited company
company in in which
which a a director
director of
of 90,66,462
90,66,462 58,35,872
58,35,872
Limited
Limited INKEL
INKEL Limited
Limited is is a
a director
director
Kerala Industrial
Industrial Particulars As at 31.03.2017
76,79,984 As at 31.03.2016
Kerala Government
Government of of Kerala
Kerala owned
owned Statutory
Statutory Body
Body inin 76,79,984 --
Infrastructure Development which a director of INKEL Limited
Infrastructure Development which a director of INKEL Limited is a director is a director
Trade Receivables
Corporation (KINFRA)
Corporation (KINFRA)
(Unsecured Considered good)
-Outstanding
Kerala for a period exceeding
State Industrial
Industrial Government six of
months
Keralafrom
ownedtheprivate
date they were
limited due for
company 2,300 10,15,37,226
Kerala State Government of Kerala owned private limited company 2,300 10,15,37,226
payment
Development Corporation in which a director of INKEL Limited is a director 1,61,67,966 69,97,537
Development Corporation in which a director of INKEL Limited is a director
-Others (See Note 2.17.1)
(KSIDC) 14,83,40,907 23,54,53,795
(KSIDC)
Kerala Academy
Kerala Academy for for Skills
Skills Government
Government of of Kerala
Kerala owned
owned private
private limited
limited company
company 8,52,316
8,52,316 9,30,82,680
9,30,82,680
16,45,08,873 24,24,51,332
Excellence (KASE)
Excellence (KASE) in
in which
which aa director
director of
of INKEL
INKEL Limited
Limited is
is aa director
director
Particulars Description As at 31.03.2017 As at 31.03.2016
NOTE - 2.18Private
MIV Logistics CASH AND
PrivateCASH EQUIVALENTS
limited company in which a director of 90,66,462 (In58,35,872
Rupees)
Limited INKEL Limited is a director
Particulars
Particulars As
As at
at 31.03.2017
31.03.2017 As
As at
at 31.03.2016
31.03.2016
Kerala Industrial Government of Kerala owned Statutory Body in 76,79,984 -
Infrastructure Development which a director of INKEL Limited is a director
Cash on
Cash on Hand
Hand 5,861
5,861 12,028
12,028
Corporation (KINFRA)
Balance with
Balance with Banks
Banks
In Current
In Current Accounts 2,30,91,091 6,32,671
Kerala StateAccounts
Industrial Government of Kerala owned private limited company 2,30,91,091
2,300 6,32,671
10,15,37,226
In Fixed
In Fixed Deposit
Deposit Accounts
Accounts 31,81,87,840
31,81,87,840 18,39,99,460
18,39,99,460
Development Corporation in which a director of INKEL Limited is a director
(KSIDC)
34,12,84,792
34,12,84,792 18,46,44,159
18,46,44,159
Kerala Academy for Skills Government of Kerala owned private limited company 8,52,316 9,30,82,680
Excellence (KASE) in which a director of INKEL Limited is a director
2.18.1 Earmarked Balances:
Balance with banks in current accounts include earmarked balances for unpaid
Other dividend Rs.5,70,406/-
Other
(Rs.3,25,006). Particulars SBN denomination Total
Particulars SBN
denomination Total
Particulars As at notes
31.03.2017 As at 31.03.2016
2.18.2 Balance
Closing Cash
Cash withasbanks
in hand
hand in Deposit Accounts include Rs.2,54,606/-
on 08.11.2016
08.11.2016 8,000
notes
(Rs.50,000/-)
7,247 held with a 15,247
maturity
Closing in as on 8,000 7,247 15,247
period
Cash of
(+) on more than
Hand Receipts
Permitted 12 months and Rs.1,00,99,500/-(Rs.Nil) is held against
-- public deposits
5,861
1,63,900 in pursuance of the
12,028
1,63,900
(+) Permitted Receipts 1,63,900 1,63,900
requirements
Balance
(-) Permitted
Permittedof applicable
with Banks
Payments Rules. -- 1,51,660 1,51,660
(-) Payments 1,51,660 1,51,660
In(-)Current
Amount Accounts
deposited in Banks 8,000 2,30,91,091
3,900 6,32,671
11,900
(-) Amount deposited in Banks 8,000 3,900 11,900
2.18.3
In Balance
Fixed
Closing Cash
Closing
Deposit
Cash in with banks
Accounts
in hand
hand as
as on in Deposit
on 30.12.2016
30.12.2016 Account includes Rs. 7,84,33,734/-
-- (Rs.5,34,61,396/-)
31,81,87,840
15,587
15,587
held under lien.
18,39,99,460
15,587
15,587

2.18.4 The details of Specified Bank Notes (SBN) held and transacted during34,12,84,792
the period from 8th November,
18,46,44,159
2016 to 30th December, 2016 areParticulars
as provided in the Table below:
As at 31.03.2017 As at
at 31.03.2016
31.03.2016
Particulars As at 31.03.2017 As
(In Rupees)
Loans/Advances
Loans/Advances to to related
related parties
parties Other
INKEL-
INKEL- KSIDC Projects Ltd-
KSIDC Projects Subsidiary
Subsidiary Company
Ltd-Particulars Company (See
(See Note
Note 2.19.1)
2.19.1)SBN 29,78,77,291
29,78,77,291 28,79,01,618
28,79,01,618
denomination Total
INKEL - KINFRA Infrastructure Projects Ltd- Subsidiary
INKEL - KINFRA Infrastructure Projects Ltd- Subsidiary Company Company 2,01,87,290
2,01,87,290 1,98,48,286
1,98,48,286
notes
(See Note
(See Note 2.19.2)
2.19.2)
Closing Cash in hand as on 08.11.2016 8,000 7,247 15,247
Seguro
Seguro -- INKEL Consortium
Consortium LLP-
INKELReceipts LLP- Jointly
Jointly Controlled
Controlled Entity
Entity 5,35,61,145
5,35,61,145 3,76,73,521
3,76,73,521
(+) Permitted - 1,63,900 1,63,900
INKEL -- EKK
INKEL EKK Roads
Roads (P)(P) Ltd-
Ltd- Subsidiary
Subsidiary Company
Company -- 1,63,497
1,63,497
(-) Permitted Payments - 1,51,660 1,51,660
(-) Amount deposited in Banks 8,000 3,900 11,900
Others:
Others: Cash in hand as on 30.12.2016
Closing - 15,587 15,587
Advances
Advances recoverable
recoverable inin cash
cash or
or in
in kind
kind or
or for
for value
value to
to be
be received
received 72,26,758
72,26,758 2,04,27,635
2,04,27,635
Earnest
Earnest Money
Money Deposits
Deposits do not include direct remittances made by customers into 1,00,000
1,00,000 10,50,000
10,50,000
The above disclosures the Bank Account of the
Balances with
Balances with Government
Government(SBNAuthorities
Authorities 2,84,332
2,84,332 2,13,190
2,13,190
Company
Advance to
Rs.2,33,947/-
to Suppliers/Contractors
Suppliers/Contractors
- Rs.1,89,000/-
Particulars and other denomination notes
As Rs.44,947/-).
at 31.03.2017
9,19,978 As at 31.03.2016
24,27,820
Advance
Advance
9,19,978 24,27,820
Advance to to employees
employees 3,29,484
3,29,484 2,92,500
2,92,500
Loans/Advances to related parties
INKEL- KSIDC Projects Ltd- Subsidiary Company (See Note 2.19.1) 29,78,77,291
38,04,86,278 28,79,01,618
36,99,98,067
38,04,86,278 36,99,98,067
INKEL - KINFRA Infrastructure Projects Ltd- Subsidiary Company 2,01,87,290 1,98,48,286
(See Note 2.19.2)
46
Seguro - INKEL Consortium LLP- Jointly Controlled Entity
Particulars
Particulars As
As at 5,35,61,145 As
at 31.03.2017
31.03.2017 As at 3,76,73,521
at 31.03.2016
31.03.2016
INKEL - EKK Roads (P) Ltd- Subsidiary Company - 1,63,497
 Particulars As at Other
31.03.2017 As at 31.03.2016
Particulars SBN denomination Total
Cash on Hand notes 5,861 12,028
Closing
BalanceCash in hand as on 08.11.2016
with Banks 8,000 7,247 ANNUAL
15,247
In(+) Permitted
Current Receipts
Accounts - 1,63,900
2,30,91,091 REPORT
1,63,900
6,32,671
In(-)Fixed
Permitted Payments
Deposit Accounts - 1,51,660
31,81,87,840
2016-2017
1,51,660
18,39,99,460
(-) Amount deposited in Banks 8,000 3,900 11,900
Closing Cash in hand as on 30.12.2016 - 15,587 15,587
NOTE - 2.19 SHORT TERM LOANS AND ADVANCES 34,12,84,792 18,46,44,159
(In Rupees)

Particulars As at 31.03.2017 As at 31.03.2016

Other
Loans/Advances to related parties
Particulars SBN denomination Total
INKEL- KSIDC Projects Ltd- Subsidiary Company (See Note 2.19.1) 29,78,77,291
notes 28,79,01,618
INKEL Cash
Closing - KINFRA Infrastructure
in hand Projects Ltd- Subsidiary Company
as on 08.11.2016 8,000 2,01,87,290
7,247 1,98,48,286
15,247
(See Note 2.19.2)
(+) Permitted Receipts - 1,63,900 1,63,900
(-) Permitted
Seguro - INKELPayments
Consortium LLP- Jointly Controlled Entity - 1,51,660
5,35,61,145 1,51,660
3,76,73,521
(-) Amount
INKEL deposited
- EKK Roads (P)in Banks
Ltd- Subsidiary Company 8,000 3,900
- 11,900
1,63,497
Closing Cash in hand as on 30.12.2016 - 15,587 15,587
Others:
Advances recoverable in cash or in kind or for value to be received 72,26,758 2,04,27,635
Earnest Money Deposits Particulars 1,00,000 As at 31.03.2016
As at 31.03.2017 10,50,000
Balances with Government Authorities 2,84,332 2,13,190
Advance to Suppliers/Contractors
Loans/Advances to related parties 9,19,978 24,27,820
Advance to employees
INKEL- KSIDC Projects Ltd- Subsidiary Company (See Note 2.19.1) 3,29,484
29,78,77,291 2,92,500
28,79,01,618
INKEL - KINFRA Infrastructure Projects Ltd- Subsidiary Company 2,01,87,290 1,98,48,286
(See Note 2.19.2) 38,04,86,278 36,99,98,067
Seguro - INKEL Consortium LLP- Jointly Controlled Entity 5,35,61,145 3,76,73,521
INKEL - EKK Roads (P) Ltd- Subsidiary Company - 1,63,497
2.19.1 Having regard to the plans for future operations of the subsidiary company-INKEL-KSIDC
Particulars As at 31.03.2017 Projects Ltd
As at 31.03.2016
and the realizable value of assets owned by the Company, the management is of the opinion that the loan given
Others:
toInterest
the company
Advances
will be recovered in full together with interest thereon.
Receivable
recoverable in cash or in kind or for value to be received 63,12,972
72,26,758 1,37,03,296
2,04,27,635
Earnest Money Deposits 1,00,000
63,12,972 1,37,03,29610,50,000
2.19.2 Based on the discussions held by the management with senior officials of2,84,332
Balances with Government Authorities
Government of Kerala, it is
2,13,190
expected
Advance that loans given in earlier years of the subsidiary company-INKEL-KINFRA
to Suppliers/Contractors Infrastructure Projects
9,19,978 Ltd
24,27,820
will be recovered in
Advance to employees full and no provision is required at this stage. 3,29,484 2,92,500

NOTE - 2.20 OTHER CURRENT ASSETS 38,04,86,278 36,99,98,067

(In Rupees)

Particulars As at 31.03.2017 As at 31.03.2016

Interest Receivable 63,12,972 1,37,03,296

63,12,972 1,37,03,296

47
 ANNUAL
REPORT
2016-2017

NOTES FORMING PART OF STATEMENT OF PROFIT AND

LOSS FOR THE YEAR ENDED 31st MARCH 2017
NOTE - 2.21 REVENUE FROM OPERATIONS (In Rupees)
For the year ended For the year ended
Particulars
31.03.2017 31.03.2016

Sale of Services
Income from disposal of land and building (On long term finance lease) 10,93,84,400 24,94,98,745
Income from operating lease 81,55,727 92,00,513
Common amenity charges 47,43,290
For the year ended For the year 46,82,328
ended
Income from Project Management Particulars
Consultancy services (See Note 2.21.1) 7,00,63,425 2,41,77,415
31.03.2017 31.03.2016
Share of course fee received For the1,15,76,199
year ended For the1,13,00,301
year ended
Particulars
Lighting system commissioning Divison 31.03.2017
30,93,346 31.03.2016 -
Sale of Services
Facility
IncomeManagement
from disposalService
of land and building (On long term finance lease) 35,90,462
10,93,84,400 -
24,94,98,745
Sale of Services
Income from operating lease 81,55,727 92,00,513
Income
Sale from disposal of land and building (On long term finance lease)
of Products 10,93,84,400 24,94,98,745
Common amenity charges 47,43,290 46,82,328
Income
Sale of from operating
lighting system lease 81,55,727
6,48,05,636 92,00,513
-
Income from Project Management Consultancy services (See Note 2.21.1) 7,00,63,425 2,41,77,415
Common
Income amenity
from charges
agriculture 47,43,290
4,93,401 46,82,328
2,78,697
Share of course fee received 1,15,76,199 1,13,00,301
Income from Project Management Consultancy services (See Note 2.21.1) 7,00,63,425
27,59,05,886 2,41,77,415
29,91,37,999
Lighting system commissioning Divison 30,93,346 -
Share of course fee received 1,15,76,199 1,13,00,301
2.21.1Facility Management Service
Details
Lighting system of commissioning
Project Management
Divison Consultancy services (PMC):
35,90,462
30,93,346 -
-
a. Revenue recognizedService
from PMCParticulars
contracts :Rs.7,00,63,425/- For the year ended For the year ended
Facility Management 35,90,462 -
b. Sale of Products
Details of cost incurred for PMC contracts : Rs.1,97,82,977/- 31.03.2017 31.03.2016
Sale of lighting system
The
Saleabove cost represents only direct costs incurred in relation/allocable to 6,48,05,636
of Products the PMC contracts. Details -
of
Income
Interest from agriculture
income 4,93,401
6,97,93,806 2,78,697
9,11,35,767
indirect costs (if any),
Sale of lighting system which are not seperately ascertainable have not been inculded in
6,48,05,636 the same. -
27,59,05,886 29,91,37,999
c.Guarantee
Amount offee
Income from
received received: Rs. Nil
advances
agriculture
1,44,01,165
4,93,401
13,73,031
2,78,697
d.Share
Amountof profit from LLP Rs. Nil
of retentions: 50,69,036
27,59,05,886
59,47,407
29,91,37,999
Profit on sale of asset For the year ended For the year68,861
1,44,285 ended
NOTE
Subsidy- received
2.22 OTHER INCOME Particulars 42,275 (In Rupees)
31.03.2017 31.03.2016 -
Liquidity damages For the year95,005
ended For the year40,000
ended
Particulars
Miscellaneous 31.03.2017 31.03.2016
Interest incomeincome 3,19,683
6,97,93,806 9,63,370
9,11,35,767
Guarantee fee received 1,44,01,165 13,73,031
Interest income 6,97,93,806
8,98,65,255 9,11,35,767
9,95,28,436
Share of profit from LLP 50,69,036 59,47,407
Guarantee fee received 1,44,01,165 13,73,031
Profit on sale of asset 1,44,285 68,861
Share of profit from LLP 50,69,036 59,47,407
Subsidy received 42,275 -
Profit on sale of asset 1,44,285 68,861
Liquidity damages 95,005 40,000
Subsidy received 42,275 -
Miscellaneous income 3,19,683 9,63,370
Liquidity damages 95,005 40,000
Miscellaneous income 3,19,683
For the8,98,65,255
year 9,63,370
ended For the9,95,28,436
year ended
Particulars
31.03.2017 31.03.2016
8,98,65,255 9,95,28,436
Cost of Land 98,23,912 2,96,07,864
NOTE - 2.23 COST OF LAND ACQUIRED/BUILDING/AMENITIES
Cost of Building/Amenities
CONSTRUCTED
4,93,80,151
AND
8,70,16,687
DISPOSED (On Long Term Finance Lease Agreements) (In Rupees)
5,92,04,063 11,66,24,551
For the year ended For the year ended
Particulars
31.03.2017 31.03.2016
For the year ended For the year ended
Particulars
31.03.2017 31.03.2016
Cost of Land For the year ended For the2,96,07,864
98,23,912 year ended
Particulars
Cost of Building/Amenities 31.03.2017
4,93,80,151 31.03.2016
8,70,16,687
Cost of Land 98,23,912 2,96,07,864
Cost of Building/Amenities 5,92,04,063
4,93,80,151 11,66,24,551
8,70,16,687
Solar light 5,57,15,416 -
Highmast light 5,92,04,063
49,72,869 11,66,24,551
-

Particulars 48 For the6,06,88,285 -

year ended For the year ended
31.03.2017 31.03.2016
For the year ended For the year ended
 For the year ended For the year ended
Particulars For the year ended For the year ended
Particulars 31.03.2017
For the year ended 31.03.2016
For the year ended
Particulars For31.03.2017
the year ended For31.03.2016
the year ended
Particulars 31.03.2017 31.03.2016
31.03.2017 31.03.2016
Cost of Land 98,23,912 2,96,07,864
Cost of Land 98,23,912 2,96,07,864
Cost
Cost of
of Building/Amenities
Land 4,93,80,151
98,23,912 8,70,16,687
2,96,07,864
Building/Amenities
Cost of Land 4,93,80,151
98,23,912 8,70,16,687
2,96,07,864
ANNUAL
Cost of Building/Amenities 4,93,80,151
5,92,04,063 8,70,16,687
11,66,24,551
Cost of Building/Amenities 4,93,80,151
5,92,04,063 8,70,16,687
REPORT
11,66,24,551
5,92,04,063 11,66,24,551
2016-2017
5,92,04,063 11,66,24,551

NOTE - 2.24 PURCHASE OF STOCK IN TRADE For the year ended For the(In Rupees)
year ended
Particulars For the year ended For the year ended
Particulars 31.03.2017
For the year ended 31.03.2016
For the year ended
Particulars For31.03.2017
the year ended For31.03.2016
the year ended
Particulars 31.03.2017 31.03.2016
31.03.2017 31.03.2016
Solar light 5,57,15,416 -
Solar light 5,57,15,416 -
Highmast
Solar lightlight 49,72,869
5,57,15,416 -
Highmast
Solar lightlight 49,72,869
5,57,15,416 -
Highmast light 49,72,869 -
Highmast light 49,72,869 -
6,06,88,285 -
6,06,88,285 -
6,06,88,285 -
6,06,88,285 -

NOTE - 2.25 EMPLOYEE BENEFITS EXPENSE For the year ended For the(In Rupees)
year ended
Particulars For the year ended For the year ended
Particulars 31.03.2017
For the year ended 31.03.2016
For the year ended
Particulars For31.03.2017
the year ended For31.03.2016
the year ended
Particulars 31.03.2017 31.03.2016
31.03.2017 31.03.2016
Salaries & allowances 3,76,59,982 2,49,15,944
Salaries & allowances 3,76,59,982 2,49,15,944
Contribution to provident and other funds
Salaries & allowances 24,75,295
3,76,59,982 12,34,789
2,49,15,944
Contribution
Salaries to provident and other funds
& allowances 24,75,295
3,76,59,982 12,34,789
2,49,15,944
Staff welfare expense
Contribution to provident and other funds 25,23,051
24,75,295 13,92,458
12,34,789
Staff welfare to
Contribution expense
provident and other funds 25,23,051
24,75,295 13,92,458
12,34,789
Staff welfare expense 25,23,051 13,92,458
Staff welfare expense 25,23,051 13,92,458
4,26,58,328 2,75,43,191
4,26,58,328 2,75,43,191
4,26,58,328 2,75,43,191
4,26,58,328 2,75,43,191

NOTE - 2.26 FINANCE COSTS (In Rupees)

For the year ended For the year ended
Particulars For the year ended For the year ended
Particulars 31.03.2017
For the year ended 31.03.2016
For the year ended
Particulars For31.03.2017
the year ended For31.03.2016
the year ended
Particulars 31.03.2017 31.03.2016
31.03.2017 31.03.2016
Interest on public deposits 56,11,382 -
Interest on public deposits 56,11,382 -
Other Borrowing
Interest on publiccosts - Expense for procurement & administration of public
deposits 56,11,382 -
Other Borrowing
Interest on public costs - Expense for procurement & administration of public
deposits 56,11,382 -
deposits
Other Borrowing costs - Expense for procurement & administration of public 61,44,305 -
Other Borrowing costs - Expense for procurement & administration of public
deposits 61,44,305 -
deposits 61,44,305 -
deposits 61,44,305 -
1,17,55,687 -
1,17,55,687 -
1,17,55,687 -
1,17,55,687 -
NOTE - 2.27 OTHER EXPENSE0 (In Rupees)
For the year ended For the year ended
Particulars For the year ended For the year ended
Particulars 31.03.2017
For the year ended 31.03.2016
For the year ended
Particulars For31.03.2017
the year ended For31.03.2016
the year ended
Particulars 31.03.2017 31.03.2016
31.03.2017 31.03.2016
Expenditure on corporate social responsibility activity (See Note 2.27.1) 21,05,000 2,11,825
Expenditure on corporate social responsibility activity (See Note 2.27.1) 21,05,000 2,11,825
Project
ExpenditureManagement Consultancy
on corporate service expense
social responsibility activity (See Note 2.27.1) 91,32,415
21,05,000 41,11,185
2,11,825
Expenditure
Project Management on corporate social responsibility
Consultancy activity (See Note 2.27.1)
service expense 21,05,000
91,32,415 2,11,825
41,11,185
Hostel
Project running
Managementand course expenseservice expense
Consultancy 20,95,153
91,32,415 12,41,234
41,11,185
Hostel
Projectrunning
Management and course expenseservice expense
Consultancy 20,95,153
91,32,415 12,41,234
41,11,185
Lighting systemand
Hostel running commissioning expense
course expense 30,67,652
20,95,153 -
12,41,234
Lighting systemand
Hostel running commissioning
course expenseexpense 30,67,652
20,95,153 -
12,41,234
Facility management divisional
Lighting system commissioning expense expense 34,69,981
30,67,652 -
Facility management
Lighting divisional expense
system commissioning expense 34,69,981
30,67,652 -
Agricultural expense divisional expense
Facility management 68,95,955
34,69,981 17,49,046
-
Agricultural
Facility expense divisional expense
management 68,95,955
34,69,981 17,49,046
-
Power & Fuelexpense
Agricultural 24,44,248
68,95,955 36,95,561
17,49,046
Power & Fuel
Agricultural expense 24,44,248
68,95,955 36,95,561
17,49,046
Rent
Power & Fuel 26,51,668
24,44,248 34,63,360
36,95,561
Rent
Power & Fuel 26,51,668
24,44,248 34,63,360
36,95,561
Repairs
Rent & maintenance 32,20,055
26,51,668 48,89,275
34,63,360
Repairs
Rent & maintenance 32,20,055
26,51,668 48,89,275
34,63,360
Insurance
Repairs & maintenance 1,60,557
32,20,055 1,15,388
48,89,275
Insurance
Repairs & maintenance 1,60,557
32,20,055 1,15,388
48,89,275
Payments
Insurance to the Auditors 1,60,557 1,15,388
Payments to the Auditors
Insurance 1,60,557 1,15,388
- as auditor
Payments to the Auditors 3,50,000 2,50,000
- as auditor
Payments to the Auditors 3,50,000 2,50,000
-- for
as taxation
auditor matters 92,500
3,50,000 60,000
2,50,000
for auditor
- as taxation matters 92,500
3,50,000 60,000
2,50,000
-- for
for other services
taxation matters 22,000
92,500 54,000
60,000
other services
- for taxation matters 22,000
92,500 54,000
60,000
-- for
for reimbursement
other services of expense 24,103
22,000 11,258
54,000
- for reimbursement
other services of expense 24,103
22,000 11,258
54,000
Bank charges
- for reimbursement of expense 2,49,229
24,103 66,364
11,258
Bank -charges
for reimbursement of expense 24,103
2,49,229 11,258
66,364
Meeting
Bank chargesexpense 12,17,592
2,49,229 9,75,454
66,364
Meeting
Bank expense
charges 12,17,592
2,49,229 9,75,454
66,364
Sitting fee
Meeting expenseto directors 9,69,498
12,17,592 5,45,905
9,75,454
Sitting
Meetingfee to directors
expense 9,69,498
12,17,592 5,45,905
9,75,454
Consideration for manpower services
Sitting fee to directors 44,21,106
9,69,498 40,37,664
5,45,905
Consideration
Sitting
Advertisement
Consideration for
Advertisement
Consideration for
for manpower services
fee to directors
& publicity
manpower services
& publicity
manpower services
49 44,21,106
9,69,498
50,61,974
44,21,106
50,61,974
44,21,106
40,37,664
5,45,905
79,15,096
40,37,664
79,15,096
40,37,664
Loss on sale of &
Advertisement assets
publicity 570
50,61,974 1,79,867
79,15,096
Loss on sale of&assets
Advertisement publicity 570
50,61,974 1,79,867
79,15,096
 Facility&management
Power Fuel divisional expense 34,69,981
24,44,248 -
36,95,561
Lighting system commissioning expense 30,67,652 -
Agricultural expense
Rent 68,95,955
26,51,668 17,49,046
34,63,360
Facility management divisional expense 34,69,981 -
Power &&Fuel
Repairs maintenance 24,44,248
32,20,055 36,95,561
48,89,275
Agricultural expense 68,95,955 17,49,046
Rent
Insurance 26,51,668
1,60,557 34,63,360
1,15,388
Power & Fuel 24,44,248 36,95,561
Repairs & to
Payments maintenance
the Auditors 32,20,055 48,89,275
Rent
Insurance
- as auditor
26,51,668
1,60,557
3,50,000 ANNUAL 34,63,360
1,15,388
2,50,000
Repairs & maintenance
Payments to the Auditors
- for taxation matters
32,20,055
92,500
REPORT 48,89,275
60,000
Insurance 1,60,557 2016-20171,15,388
as auditor
- for other services 3,50,000
22,000 2,50,000
54,000
Payments to the Auditors
taxation mattersof expense
- for reimbursement 92,500
24,103 60,000
11,258
- as auditor 3,50,000 2,50,000
Bank -charges
for other services 22,000
2,49,229 54,000
66,364
- for taxation matters 92,500 60,000
Meeting- forexpense
reimbursement of expense 24,103
12,17,592 11,258
9,75,454
- for other services 22,000 54,000
Bank charges
Sitting fee to directors 2,49,229
9,69,498 66,364
5,45,905
- for reimbursement of expense 24,103 11,258
Meeting expense
Consideration for manpower services 12,17,592
44,21,106 9,75,454
40,37,664
Bank charges 2,49,229 66,364
Sitting fee to directors
Advertisement & publicity 9,69,498
50,61,974 5,45,905
79,15,096
Meeting expense 12,17,592 9,75,454
Consideration
Loss on sale offor manpower services
assets 44,21,106
570 40,37,664
1,79,867
Sitting fee to directors 9,69,498 5,45,905
Advertisement & publicity to professional bodies
Membership/subscription 50,61,974
1,09,359 79,15,096
1,68,494
Consideration for manpower services 44,21,106 40,37,664
Loss on sale
Postages, of assets
telephone and internet charges 570
12,47,343 1,79,867
9,76,638
Advertisement & publicity 50,61,974 79,15,096
Membership/subscription
Printing and stationery to professional bodies 1,09,359
2,95,026 1,68,494
2,62,619
Loss on sale of assets 570 1,79,867
Postages, telephone
Professional charges and internet
& legal fee charges 12,47,343
35,74,911 9,76,638
13,44,894
Membership/subscription to professional bodies 1,09,359 1,68,494
Printing
Rates & and
Taxes stationery 2,95,026
52,09,599 2,62,619
18,90,189
Postages, telephone and internet charges 12,47,343 9,76,638
Professional
Staff charges
Recruitment & legal fee
Expense 35,74,911
2,85,963 13,44,894
6,94,772
Printing and stationery 2,95,026 2,62,619
Travelling
Rates & Taxes & Conveyance 52,09,599
55,46,184 18,90,189
41,01,961
Professional charges & legal fee 35,74,911 13,44,894
Expenditure on projects
Staff Recruitment Expense written off 2,85,963
- 6,94,772
4,11,669
Rates & Taxes 52,09,599 18,90,189
Travelling & Conveyance
Miscellaneous Expense 55,46,184
6,47,207 41,01,961
6,70,177
Staff Recruitment Expense 2,85,963 6,94,772
Expenditure on projects written off - 4,11,669
Travelling & Conveyance 55,46,184 41,01,961
Miscellaneous Expense 6,45,66,848
6,47,207 4,40,93,895
6,70,177
Expenditure on projects written off - 4,11,669
Miscellaneous Expense 6,47,207 6,70,177
For the 6,45,66,848
year ended For the 4,40,93,895
year ended
2.27.1 Note on Expenditure on Particulars corporate social responsibility activities
31.03.2017 31.03.2016
6,45,66,848 4,40,93,895
i) Gross amount required to be spent during the year For the year ended
23,87,842 For the year ended
17,63,000
Particulars
ii) Amount spent during the year 31.03.2017 31.03.2016
For the year ended For the year ended
i)- Gross amount required toofbe
Construction/acquisition spent
any assetduring the year
Particulars 23,87,842
- 17,63,000
-
31.03.2017 31.03.2016
ii)
- onAmount spent
purposes during
other thanthe year
above 21,05,000 2,11,825
i) Gross amount required to be spent during the year 23,87,842 17,63,000
- Construction/acquisition of any asset - -
ii) Amount spent during the year
- on purposes other than above 21,05,000
21,05,000 2,11,825
- Construction/acquisition of any asset - -
- on purposes other than above 21,05,000 2,11,825
21,05,000 2,11,825
For the year ended For the year ended
Particulars 21,05,000 2,11,825
31.03.2017 31.03.2016
NOTE - 2.28 EARNINGS PER SHARE For the year ended For the(In Rupees)
year ended
Particulars
Profit after tax for the year as per Statement of Profit and Loss (In Rs.) 31.03.2017
7,28,90,317 31.03.2016
12,61,45,874
For the year ended For the year ended
Weighted avarage number ofequityParticulars shares of Rs.10/-(Rs.10/-) each (fully paid up) 16,30,27,000 16,30,27,000
31.03.2017 31.03.2016
Profit after tax for the year as per Statement of Profit and Loss (In Rs.) 7,28,90,317 12,61,45,874
Weighted
Basic and avarage number ofequity
Diluted Earnings shares
Per Equity of Rs.10/-(Rs.10/-)
Share- eachof
In Rs. (Face Value (fully
Share-
paid up) 16,30,27,000
0.45 16,30,27,000
0.77
Profit after tax for the year as per Statement of Profit and Loss (In Rs.) 7,28,90,317 12,61,45,874
Rs.10 each)
Weighted avarage number ofequity shares of Rs.10/-(Rs.10/-) each (fully paid up) 16,30,27,000 16,30,27,000
Basic and Diluted Earnings Per Equity Share- In Rs. (Face Value of Share- 0.45 0.77
Rs.10 each)
Basic and Diluted Earnings Per Equity Share- In Rs. (Face Value of Share- 0.45 0.77
Rs.10 each)
Subsidiary/ Associate/
Key Managerial
Nature of Transaction Jointly Controlled Total
Personnel
Subsidiary/ Associate/
Entity
Key Managerial
Income Nature of Transaction Jointly Controlled Total
Subsidiary/ Associate/ Personnel
1. Project Management Services Entity Key Managerial
Nature of Transaction Jointly Controlled Total
MIV Logistics Pvt Ltd
Income 23,33,210 Personnel - 23,33,210
Entity
(7,49,012) (7,49,012)
1. Project Management Services -
Income
INKEL KSIDC Pvt
MIV Logistics Projects
Ltd Ltd. 1,54,08,352
23,33,210 - 1,54,08,352
23,33,210
1. Project Management Services
(25,69,423)
(7,49,012) - (25,69,423)
(7,49,012)
MIV Logistics Pvt Ltd 23,33,210 - 23,33,210
Seguro-
INKEL KSIDC INKELProjects
Consortium
Ltd. LLP 35,97,687
1,54,08,352 - 35,97,687
1,54,08,352
(7,49,012) - (7,49,012)
(1,07,05,014)
(25,69,423) - (1,07,05,014)
(25,69,423)
INKEL KSIDC Projects Ltd. 1,54,08,352 - 1,54,08,352
INKES
Seguro-TradeINKEL Centre Ltd
Consortium LLP 35,97,687 - - 35,97,687-
(25,69,423) - (25,69,423)
(80,95,500)
(1,07,05,014) - (80,95,500)
(1,07,05,014)
Seguro- INKEL Consortium LLP 35,97,687 - 35,97,687
INKEL
INKES EKK TradeRoads
Centre Pvt
LtdLtd 3,36,42,260 - - 3,36,42,260 -
(1,07,05,014) - (1,07,05,014)
-
(80,95,500) - (80,95,500)-
2. INKES
GuaranteeTrade Centre Ltd Received
INKEL EKKCommission
Roads Pvt Ltd 503,36,42,260-
(80,95,500)
-
--
3,36,42,260
(80,95,500)
-
Seguro-INKEL Consortium LLP 22,01,165 - 22,01,165-
INKEL EKK Roads Pvt Ltd 3,36,42,260 3,36,42,260
 ANNUAL
REPORT
2016-2017

Note No. 2.29 EMPLOYEE BENEFITS

(Disclosure under Accounting Standard 15 – ‘Employee Benefits’, Revised 2005)

2.29.1 Defined Contribution Plans

During the year the company has recognized Rs.15,70,778/-(Previous Year Rs.9,21,033/-) as Contribution
to Provident Fund, Rs.7,32,816/- (Rs.Nil/-) as Contribution to National Pension Scheme and Rs.8,780/-(Rs.
Nil/-) as Contribution to Employee State Insurance in the Statement of Profit and Loss on account of defined
contribution plans.

2.29.2 Defined Benefit Plans 31st March, 31st March,

(i) Actuarial Assumptions
Gratuity (Funded) 2017 2016
(In Rupees)
Discount Rate 8.00%
st
p.a. 8.00%
st
p.a.
(i) Actuarial
Rate Assumptions
of return on plan assets 31 March,
8.00% p.a. 31Applicable
Not March,
2017 2016
Compensation escalation rate * 5.00% p.a. 5.00% p.a.
Discount Rate 8.00% p.a. 8.00% p.a.
Mortality rate Indian Lives Indian Lives
Rate of return on plan assets 8.00% p.a. Not Applicable
Mortality[1994- Mortality[1994-
Compensation escalation rate * 5.00% p.a.
1996] Ultimate 5.00%
1996] p.a.
Ultimate
Mortality rate Indian Table
Lives Indian Table
Lives
Mortality[1994- Mortality[1994-
1996] Ultimate 1996] Ultimate
Table Table
*The assumption of future salary increases takes into account the inflation, seniority, promotions and other
relevant factors such as supply and demand in the employment market.
(In Rupees)
(ii) Reconciliation of present value of 31st March, 31st March,
obligation: 2017 2016
Present value of obligation at the
Reconciliation
(ii) beginning of theof present value of
year
st
3126,82,144
March, st
3123,57,549
March,
obligation: 2017 2016
Current
Present Service
value ofCost
obligation at the 6,11,610 3,86,837
Interest
beginningCost
of the year 26,82,144
2,39,036 23,57,549
2,04,077
Actuarial (gain)/loss 9,19,593 (78,620)
Current Service Cost 6,11,610 3,86,837
Benefits Paid (1,09,867) (1,87,699)
Interest Cost 2,39,036 2,04,077
Curtailments - -
Actuarial (gain)/loss 9,19,593 (78,620)
Settlements - -
Benefits Paid (1,09,867) (1,87,699)
Present value of obligation at the end of
Curtailments 43,42,516- 26,82,144-
the year
Settlements - -
Present value of obligation at the end of (In Rupees)
43,42,516 26,82,144
the year
(iii) Reconciliation of fair value of plan 31st March, 31st March,
assets : 2017 2016
Fair value of plan assets at the beginning
29,90,269 20,44,503
of the year
Expected return on plan assets 2,39,221 1,63,560
Actuarial gain/(loss) (3,09,925) 1,23,033
Contributions 5,69,667 8,19,064
Benefits paid (1,09,867) (1,59,891)
Assets distributed on settlement - -
Fair value of plan assets at the end of the year 33,79,365 29,90,269

(iv) Net (Asset)/Liability recognised in the 31st March, 31st March,

Balance Sheet as at year end: 51 2017 2016
 Actuarial
Expected gain/(loss)
on plan
return on
Contributions plan assets
assets (3,09,925)
2,39,221
2,39,221
5,69,667 1,23,033
1,63,560
1,63,560
8,19,064
Contributions
Actuarial gain/(loss)
gain/(loss)
Benefits paid 5,69,667
(3,09,925)
(3,09,925)
(1,09,867) 8,19,064
1,23,033
1,23,033
(1,59,891)
Benefits paid
Contributions
Assets distributed on settlement (1,09,867)
5,69,667-
5,69,667 (1,59,891)
8,19,064-
8,19,064
Assets
Benefitsdistributed
paid on settlement (1,09,867)
(1,09,867) - (1,59,891)
(1,59,891) -
Fair value of plan assets at the end of the year 33,79,365 29,90,269
Fair value
Assets of plan assets
distributed
distributed on at the end of the year
on settlement
settlement 33,79,365-- ANNUAL -
29,90,269-
assets at
Fair value of plan assets at the
the end
end of
of the year
the year 33,79,365
33,79,365 29,90,269
REPORT
29,90,269
2016-2017

(iv) Net (Asset)/Liability recognised in the 31st March, 31stst March,

(iv) Net (Asset)/Liability
Balance Sheet as at recognised
year end: in the 31st201March,
7 31(In Rupees)
March,
2016
Balance
(iv) Net Sheet as at recognised
(Asset)/Liability
(Asset)/Liability year end: in
recognised in the
the 201
31stst
31 7
March,
March, 31 2016
31 stst
March,
March,
Present
Balance value
Sheet of
asobligation
as at
at year
year end:
end: 43,42,516
20177
201 26,82,144
2016
2016
Present value of obligation 43,42,516 26,82,144
Fair value of plan assets 33,79,365 29,90,269
Fair value
Present of plan
value assets
obligation
of obligation 33,79,365
43,42,516
43,42,516 29,90,269
26,82,144
26,82,144
Net present value of unfunded obligation
Net
Fair present
value of value
plan of unfundedinobligation
assets
assets
recognised as (asset)/liability the 33,79,365
33,79,365
9,63,151 29,90,269
29,90,269
(3,08,125)
recognised
Net present
Balance Sheetas (asset)/liability
value of unfundedinobligation
value of unfunded the
obligation 9,63,151 (3,08,125)
Balance Sheet
recognised (asset)/liability in
as (asset)/liability in the
the 9,63,151
9,63,151 (3,08,125)
(3,08,125)
Balance Sheet
(In Rupees)
(v) Expenses recognised in the Statement 31st March, 31st March,
(v) Expenses recognised
of Profit and Loss: in the Statement 31st
201March,
7 31st2016
March,
(v) of Profit
Expenses and Loss:
recognised
recognised
Current Service Cost in
in the
the Statement
Statement 31 st201 7
31st March,
March,
6,11,610 31st2016
31 st
March,
March,
3,86,837
Current
of ProfitService
and
Interest Cost Cost
Loss:
Loss: 2016,11,610
201 77
2,39,036 3,86,837
2016
2016
2,04,077
Interest
Current
Expected Cost
Service
return Cost
Cost
on plan assets 2,39,036
6,11,610
6,11,610
(2,39,221) 2,04,077
3,86,837
3,86,837
(1,63,560)
Expected
Interest return/loss
Cost
Actuarial (gain) on plan assets in the
recognised (2,39,221)
2,39,036
2,39,036 (1,63,560)
2,04,077
2,04,077
Actuarial
Expected (gain)
return /loss
on plan assets in the
on recognised
plan assets 12,29,518
(2,39,221)
(2,39,221) (2,01,653)
(1,63,560)
(1,63,560)
period 12,29,518 (2,01,653)
period
Actuarial
Past Service Cost recognised
(gain) /loss
/loss recognised in in the
the
Past
periodService Cost 12,29,518--
12,29,518 (2,01,653)--
(2,01,653)
Curtailment cost - -
Curtailment
Past Service
Settlement cost
Cost
cost --- - --
Settlement
Curtailment
Total expensecost
cost
recognised in the -- --
Total expense
Settlement
Statement cost
of recognised
Profit and Loss in the 18,40,943 -- --
2,25,701
Statement
Total of Profit
expense and
recognised Loss
recognised in the
in the 18,40,943 2,25,701
Statement of Profit
Profit and
and Loss
Loss 18,40,943
18,40,943 2,25,701
2,25,701
Leave Plan (Unfunded) (In Rupees)
(i) Actuarial Assumptions 31st
stMarch, 31st March,
(i) Actuarial Assumptions 31 201 March,
7 31st2016
March,
stst stst
(i)
(i) Actuarial Assumptions
ActuarialRate
Discount Assumptions 31 201
31
8.00% 7
March,
March,
p.a. 31 2016
31
8.00% March,
March,
p.a.
Discount Rate
Rate of return on plan assets Not 201
8.00% 77
201p.a.
Applicable 8.00%
Not 2016
2016p.a.
Discount
Rate
Discount Rate
of return
Rate on plan assets 8.00%
Not p.a.
Applicable
8.00% p.a. 8.00%
Not
8.00% p.a.
Applicablep.a.
Rate
Compensationon
Rate of
of return
return on plan
plan assets
assets
escalation rate * Not
NotApplicable
5.00% Applicable
p.a. Not
Applicable
Not
5.00% p.a.
Compensation escalation rate * 5.00% p.a. Applicable
5.00%
Applicable p.a.
Mortality rate
Compensation Indian Lives Indian Lives
Mortality rate escalation
Compensation escalation rate
rate ** 5.00%
5.00%
Indian p.a.
p.a.Lives
Mortality[1994-
5.00%
5.00%
Indian p.a.
p.a.
Lives
Mortality[199
Mortality
Mortality rate
rate Indian
Indian Lives
Mortality[1994-
1996] UltimateLives Indian Lives
Mortality[199
4-1996] Lives
Indian
Mortality[1994-
1996] Ultimate
Mortality[1994-
Table Mortality[199
4-1996]
Mortality[199
UltimateTable
1996]
1996] Ultimate
Table Ultimate 4-1996]
UltimateTable
4-1996]
Table
Table UltimateTable
UltimateTable
*The assumption of future salary increases takes into account the inflation, seniority, promotions and other
relevant factors such as supply and demand in the employment market.
(ii) Reconciliation of present value of 31st
st March,
st
31(In
st March,
Rupees)
Reconciliation
(ii) obligation: of present value of 31 March, 31 March,
st201 7 st 2016
(ii) Reconciliation
obligation:
Reconciliation of present value of 31
31st March,
201 7
March, 31 March,
31st2016
March,
(ii) Present value ofof present at
obligation value
the of
obligation:
Present value
obligation: of obligation at the 201 7
42,92,508
201 7 2016
24,52,295
2016
beginning of the year 42,92,508 24,52,295
Present
Present value
beginning of
of the
value obligation
obligation at
of year at the
the
Current
beginningService
of the Cost
year 42,92,508
20,00,310
42,92,508 24,52,295
13,16,083
24,52,295
beginning
Current of the Cost
Service year 20,00,310 13,16,083
Interest Cost 1,14,373 2,48,827
Current
Current Service
Interest Cost
Service Cost
Cost 20,00,310
1,14,373
20,00,310 13,16,083
2,48,827
13,16,083
Actuarial (gain)/loss 8,35,832 6,88,205
Interest
ActuarialCost
(gain)/loss
Interest Cost 1,14,373
8,35,832
1,14,373 2,48,827
6,88,205
2,48,827
Benefits Paid (19,08,193) (4,12,902)
Actuarial
Benefits (gain)/loss
Paid
Actuarial (gain)/loss 8,35,832
(19,08,193)
8,35,832 6,88,205
(4,12,902)
6,88,205-
Curtailments
Benefits
Benefits Paid
Curtailments
Paid
Settlements
(19,08,193)
(19,08,193) (4,12,902)
(4,12,902)--
Curtailments
Settlements
Curtailments --
Present value of obligation at the end of the year
Settlements 53,34,830 42,92,508 --
Present value of obligation at the end of the year
Settlements 53,34,830 42,92,508
Present value of obligation at the end of the year 53,34,830 42,92,508
Present value of obligation at the end of the year 53,34,830 42,92,508

(iii) Reconciliation of fair value of plan 31st March, 31st March,

(iii) Reconciliation
assets : of fair value of plan 31stst
201March,
7 31stst2016
March,
31 st March, 31 st2016
March,
(iii)
(iii)
Reconciliation
assets
Fair : of plan
Reconciliation
value
assets
of fair value of plan
of fair value
: of plan assets
of beginning
at the plan 52 31 201
201-7
7
March, 31 March,
2016
Fair value assets at the beginning -
assets
of the :
year
Fair value of plan assets at the beginning
201-7 2016
-
 Current Service Cost 20,00,310 13,16,083
Interest
Interest Cost
Cost 1,14,373
1,14,373 2,48,827
2,48,827
Actuarial
Actuarial (gain)/loss
(gain)/loss 8,35,832
8,35,832 6,88,205
6,88,205
Benefits
Benefits Paid
Paid (19,08,193)
(19,08,193) (4,12,902)
(4,12,902)
Curtailments
Curtailments --
Settlements
Settlements ANNUAL --
Present
Present value
value of
of obligation
obligation at
at the
the end of the
end of the year
year 53,34,830
53,34,830 42,92,508
REPORT
42,92,508
2016-2017

(In Rupees)
(iii) Reconciliation of fair value of plan 31st
st March,
31 March, 31st
st March,
31 March,
(iii) Reconciliation of fair value of plan
assets
assets :: 2017
201 7 2016
2016
Fair
Fair value
value of
of plan
plan assets
assets at
at the
the beginning
beginning -- --
of
of the
the year
year
Expected
Expected return
return on
on plan
plan assets
assets -- --
Actuarial gain/(loss)
Actuarial gain/(loss) -- --
Contributions
Contributions -- --
Benefits
Benefits paid
paid -- --
Assets
Assets distributed
distributed on
on settlement
settlement -- --
Fair
Fair value
value of
of plan
plan assets
assets at
at the
the end
end of
of the
the year
year -- --

(In Rupees)
st st
(iv) Net
(iv) Net (Asset)/Liability
(Asset)/Liability recognised
recognised in
in the
the 31st March,
31 March, 31
31st March,
March,
Balance
Balance Sheet
Sheet as
as at
at year
year end:
end: 2017
201 7 2016
2016
Present
Present value
value of
of obligation
obligation 53,34,830
53,34,830 42,92,508
42,92,508
Fair
Fair value of plan assets
value of plan assets -- --
Net
Net present
present value
value of
of unfunded
unfunded obligation
obligation
recognised
recognised as
as (asset)/liability
(asset)/liability in
in the
the Balance
Balance Sheet
Sheet 53,34,830
53,34,830 42,92,508
42,92,508

(In Rupees)
(v)
(v) Expenses
Expenses recognised
recognised in in the
the Statement
Statement 31st
st March,
31 March, 31st
st March,
31 March,
of
of Profit
Profit and
and Loss:
Loss: 2017
201 7 2016
2016
Current
Current Service
Service Cost
Cost 20,00,310
20,00,310 13,16,083
13,16,083
Interest Cost
Interest Cost 1,14,373
1,14,373 2,48,827
2,48,827
Expected
Expected return
return on
on plan
plan assets
assets -- --
Actuarial
Actuarial (gain)
(gain) /loss
/loss recognised
recognised inin the
the 8,35,832
8,35,832 6,88,205
6,88,205
period
period
Past
Past Service
Service Cost
Cost -- --
Curtailment
Curtailment cost
cost -- --
Settlement
Settlement cost
cost -- --
Total
Total expense
expense recognised
recognised in in the
the Statement
Statement of
of Profit
Profit and
and Loss
Loss 29,50,515 22,53,115
29,50,515 22,53,115

The above disclosures are based on information certified by the independent actuary and relied upon by the
auditors.

53
 Travelling & Conveyance 55,46,184 41,01,961
Expenditure on projects written off - 4,11,669
Miscellaneous Expense 6,47,207 6,70,177

6,45,66,848 4,40,93,895
ANNUAL
REPORT
For the year ended For the year ended
2016-2017
Particulars
31.03.2017 31.03.2016
i) Gross amount required to be spent during the year 23,87,842 17,63,000
Note -2.30
ii) Amount spent during the year
Disclosure of transactionsofwith
- Construction/acquisition Related Parties as required by Accounting Standard -– 18 on Related Party
any asset -
Disclosures as prescribed by Companies (Accounting Standards) Rules, 2006
- on purposes other than above 21,05,000 2,11,825
A. Related parties and nature of relationship
21,05,000 2,11,825
i. INKEL KSIDC Projects Ltd. Subsidiary Company
ii. INKEL KINFRA Infrastructure Projects Ltd. Subsidiary Company
iii. INKES Trade Centre Ltd Subsidiary CompanyFor the year ended For the year ended
Particulars
iv. INKEL- EKK Roads Pvt Ltd Subsidiary Company 31.03.2017 31.03.2016
(w.e.f 28-09-2016)
Jointly controlled Entity (upto 27-09-2016)
Profit after tax for
v. Thalikulam the year
PURA Pvt as
Ltdper Statement of Profit and Loss (In Rs.)
Subsidiary Company 7,28,90,317 12,61,45,874
Weighted
vii. avarage
Tirurangadi number
PURA Pvt ofequity
Ltd shares of Rs.10/-(Rs.10/-) each (fully paid up)
Subsidiary Company16,30,27,000 16,30,27,000
vii. MIV Logistics Pvt Ltd Associate Company
Basic
viii. and Diluted
Seguro Earnings
- INKEL Per Equity
Consortium LLP Share- In Rs. (Face ValueJointly
of Share-
Controlled Entity 0.45 0.77
Rs.10 each)
ix. Key Managerial Personnel
Mr. T Balakrishnan Managing Director

B. Description of Transactions (In Rupees)

Subsidiary/ Associate/
Subsidiary/ Associate/ Key Managerial
Key Managerial
Nature of Transaction
Nature of Transaction Jointly Controlled
Jointly Controlled Total
Total
Personnel
Personnel
Entity
Entity
Income
Income
1.1. Project
ProjectManagement
ManagementServices
Services
MIV
MIVLogistics
LogisticsPvt
PvtLtd
Ltd 23,33,210
23,33,210 - - 23,33,210
23,33,210
(7,49,012)
(7,49,012) - - (7,49,012)
(7,49,012)
INKEL
INKELKSIDC
KSIDCProjects
ProjectsLtd.
Ltd. 1,54,08,352
1,54,08,352 - - 1,54,08,352
1,54,08,352
(25,69,423)
(25,69,423) - - (25,69,423)
(25,69,423)
Seguro-
Seguro-INKEL
INKELConsortium
ConsortiumLLP
LLP 35,97,687
35,97,687 - - 35,97,687
35,97,687
(1,07,05,014)
(1,07,05,014) - - (1,07,05,014)
(1,07,05,014)
INKES
INKESTrade
TradeCentre
CentreLtd
Ltd - - - - - -
(80,95,500)
(80,95,500) - - (80,95,500)
(80,95,500)
INKEL
INKELEKK
EKKRoads
RoadsPvt
PvtLtd
Ltd 3,36,42,260
3,36,42,260 3,36,42,260
3,36,42,260
- - - -
2. Guarantee Commission Received
Seguro-INKEL
2. Guarantee Consortium
Commission LLP
Received 22,01,165 - 22,01,165
Seguro-INKEL Consortium LLP (13,73,031)
22,01,165 - - (13,73,031)
22,01,165
INKEL EKK Roads Pvt Ltd 1,22,00,000
(13,73,031) - - 1,22,00,000
(13,73,031)
INKEL EKK Roads Pvt Ltd 1,22,00,000- - - 1,22,00,000 -
3 Scrap Sales - - -
MIV Logistics Pvt Ltd - - -
3 Scrap Sales (97,707) - (97,707)
MIV Logistics Pvt Ltd - - -
4 Interest income from Loans/Debentures (97,707) - (97,707)
INKEL KSIDC Projects Ltd. 3,21,39,330 - 3,21,39,330
4 Interest income from Loans/Debentures (3,11,67,943) - (3,11,67,943)
IINKELKSIDC
INKEL KINFRA Infrastructure
Projects Ltd. Projects Ltd. 3,21,39,330- - - 3,21,39,330 -
(10,87,747)
(3,11,67,943) - - (10,87,747)
(3,11,67,943)
SeguroKINFRA
IINKEL INKEL Consortium LLP
Infrastructure Projects Ltd. 1,67,86,340
- - - 1,67,86,340
-
(1,65,92,296)
(10,87,747) - - (1,65,92,296)
(10,87,747)
5 Seguro
FaciltiyINKEL
Management Services
Consortium LLP 1,67,86,340 - 1,67,86,340
MIV Logistics Pvt Limited 10,11,167
(1,65,92,296) - - 10,11,167
(1,65,92,296)
5 Faciltiy Management Services - - -
Expense
MIV Logistics Pvt Limited 10,11,167 - 10,11,167
1. Remuneration to Managing Director - - 50,58,739 50,58,739
54
- -
- (36,19,781) (36,19,781)
Expenses
2. Purchase of Assets
1. Remuneration to Managing Director - 50,58,739 50,58,739
 INKEL KSIDC Projects Ltd. 3,21,39,330 - 3,21,39,330
(3,11,67,943) - (3,11,67,943)
IINKEL KINFRA Infrastructure Projects Ltd. - - -
(10,87,747) - (10,87,747)
Seguro INKEL Consortium LLP 1,67,86,340 - 1,67,86,340
(1,65,92,296) -
ANNUAL
(1,65,92,296)
5 Faciltiy Management Services
REPORT
2016-2017
MIV Logistics Pvt Limited 10,11,167 - 10,11,167
- - -
Expense
1. Remuneration to Managing Director - 50,58,739 50,58,739
- (36,19,781) (36,19,781)
2. Purchase of Assets
INKEL KSIDC Projects Ltd. 93,70,791 - 93,70,791
- - -
Loans and Advances
1. INKEL KSIDC Projects Ltd.
- Loan/Advances recovered 1,97,70,791 - 1,97,70,791
(1,52,292) - (1,52,292)
2. INKES Trade Centre Ltd
- Loan/Advances given - - -
(1,21,12,000) - (1,21,12,000)
3. Seguro-INKEL Consortium LLP
- Loan/Advances given 3,75,00,000 - 3,75,00,000
(6,64,25,790) - (6,64,25,790)
- Loan/Advances recovered 6,86,14,858 - 6,86,14,858
(13,93,45,137) - (13,93,45,137)
Share of Profit
1. Seguro-INKEL Consortium LLP 50,69,036 - 50,69,036
(59,47,407) - (59,47,407)

Investments made during the year

1. INKEL EKK Roads Pvt Ltd 8,15,70,000 - 8,15,70,000
(30,000) - (30,000)
2. INKES Trade Centre Ltd - - -
(3,66,30,000) - (3,66,30,000)
Guarantee given during the year
1. Seguro-INKEL Consortium LLP 33,50,00,000 - 33,50,00,000
(24,00,00,000) - (24,00,00,000)
2. Inkel-EKK Roads Private Limited 1,22,00,00,000 - 1,22,00,00,000
- - -
Investments
1. INKEL KINFRA Infrastructure Projects Ltd. 7,40,000 - 7,40,000
(7,40,000) - (7,40,000)
2. INKEL-KSIDC Projects Ltd 18,32,34,120 - 18,32,34,120
(18,32,34,120) - (18,32,34,120)
3. INKES Trade Centre Ltd 3,70,00,000 - 3,70,00,000
(3,70,00,000) - (3,70,00,000)
4. INKEL-EKK Roads Pvt Limited 8,16,00,000 - 8,16,00,000
(30,000) - (30,000)
5. MIV Logistics Pvt Ltd (Including Preference 27,82,97,140 - 27,82,97,140
Shares) (27,82,97,140) - (27,82,97,140)
6. Seguro INKEL Consortium LLP 1,04,91,773 - 1,04,91,773
(Including share of profit) (93,87,675) - (93,87,675)

Guarantee given
1. MIV Logistics Pvt Ltd 23,20,09,630 - 23,20,09,630
(23,19,74,071) - (23,19,74,071)
2. Seguro-INKEL Consortium LLP 57,50,00,000 - 57,50,00,000
(24,00,00,000) - (24,00,00,000)
3. Inkel-EKK Roads Private Limited 1,22,00,00,000 - 1,22,00,00,000
- - -
Receivables
1. MIV Logistics Pvt Ltd 90,66,462 - 90,66,462
55(58,35,872) - (58,35,872)
2. INKEL KSIDC Projects Ltd. 31,67,35,999 - 31,67,35,999
 (Including
Guarantee share
given of profit)
during the year (93,87,675)
(24,00,00,000) -- (93,87,675)
(24,00,00,000)
2. Seguro-INKEL
1. Inkel-EKK Roads Private Limited
Consortium LLP 1,22,00,00,000
33,50,00,000 - 1,22,00,00,000
33,50,00,000
Guarantee given (24,00,00,000) - - (24,00,00,000) -
Investments
1. Inkel-EKK
2. MIV Logistics Pvt Private
Roads Ltd Limited 23,20,09,630
1,22,00,00,000 -- 23,20,09,630
1,22,00,00,000
1. INKEL KINFRA Infrastructure Projects Ltd. 7,40,000
(23,19,74,071) - --- 7,40,000
(23,19,74,071) -
Investments (7,40,000) -
ANNUAL (7,40,000)
2. Seguro-INKEL Consortium LLP 57,50,00,000 - 57,50,00,000
REPORT
2.
1. INKEL-KSIDC
INKEL KINFRAProjects Ltd Projects Ltd.
Infrastructure 18,32,34,120
7,40,000
(24,00,00,000) -- 18,32,34,120
7,40,000
(24,00,00,000)
2016-2017
3. Inkel-EKK Roads Private Limited (18,32,34,120)
(7,40,000)
1,22,00,00,000 -- (18,32,34,120)
(7,40,000)
1,22,00,00,000
3. INKEL-KSIDC
2. INKES Trade Centre
ProjectsLtdLtd 3,70,00,000
18,32,34,120 - -- 3,70,00,000
18,32,34,120 -
(3,70,00,000)
(18,32,34,120) - (3,70,00,000)
(18,32,34,120)
Receivables
4. INKES
3. INKEL-EKKTradeRoads
CentrePvtLtd Limited 8,16,00,000
3,70,00,000 - 8,16,00,000
3,70,00,000
1. MIV Logistics Pvt Ltd 90,66,462 - 90,66,462
(30,000)
(3,70,00,000) - (30,000)
(3,70,00,000)
(58,35,872) - (58,35,872)
5. MIV
4. LogisticsRoads
INKEL-EKK Pvt Ltd Pvt(Including
Limited Preference 27,82,97,140
8,16,00,000 - 27,82,97,140
8,16,00,000
2. INKEL KSIDC Projects Ltd. 31,67,35,999 - 31,67,35,999
Shares) (27,82,97,140)
(30,000) - (27,82,97,140)
(30,000)
(29,05,81,557) - (29,05,81,557)
6. MIV
5. Seguro INKELPvt
Logistics Consortium LLP Preference
Ltd (Including 1,04,91,773
27,82,97,140 - 1,04,91,773
27,82,97,140
3. INKEL KINFRA Infrastructure Projects Ltd. 2,01,87,290 - 2,01,87,290
(Including share of profit)
Shares) (93,87,675)
(27,82,97,140) - (93,87,675)
(27,82,97,140)
(2,08,27,258) - (2,08,27,258)
6. Seguro INKEL Consortium LLP 1,04,91,773 - 1,04,91,773
4. Seguro INKEL Consortium LLP 11,01,30,055 - 11,01,30,055
Guarantee given
(Including share of profit) (93,87,675) - (93,87,675)
(14,27,22,458) - (14,27,22,458)
1. MIV Logistics Pvt Ltd 23,20,09,630 - 23,20,09,630
5. INKES Trade Centre Ltd 7,59,798 - 7,59,798
Guarantee given (23,19,74,071) - (23,19,74,071)
(84,59,798) - (84,59,798)
2. MIV
1. Seguro-INKEL Consortium
Logistics Pvt Ltd LLP 57,50,00,000
23,20,09,630 - 57,50,00,000
23,20,09,630
6. Inkel-EKK Roads Pvt Limited 2,58,90,420 - 2,58,90,420
(24,00,00,000)
(23,19,74,071) - (24,00,00,000)
(23,19,74,071)
(1,63,497) - (1,63,497)
3. Seguro-INKEL
2. Inkel-EKK Roads Private Limited
Consortium LLP 1,22,00,00,000
57,50,00,000 - 1,22,00,00,000
57,50,00,000
(24,00,00,000) - - (24,00,00,000) -
2.30.1
3. Transactions
Inkel-EKK
Receivables Roads in the
Private nature
Limited of current account transactions
1,22,00,00,000 have not been - included in the
1,22,00,00,000above
disclosure.
1. MIV Logistics Pvt Ltd 90,66,462 - -- 90,66,462-
Receivables (58,35,872) - (58,35,872)
2.30.2
2. Investments
1. INKEL
MIV KSIDCPvt
Logistics inLtd
subsidiary
Projects Ltd. companies Thalikulam PURA Pvt Ltd and Tirurangadi
31,67,35,999
90,66,462 - PURA31,67,35,999
Pvt Ltd have
90,66,462
been fully written off in the books of accounts during the year ended 31.03.2015.
(29,05,81,557)
(58,35,872) - (29,05,81,557)
(58,35,872)
3. INKEL KSIDC
2. KINFRAProjects
Infrastructure
Ltd. Projects Ltd.
Particulars 2,01,87,290 For the year ended
31,67,35,999 - For the31,67,35,999
year ended
2,01,87,290
31.03.2017 - 31.03.2016
Note
A.Total
- 2.31
Revenue
(2,08,27,258)
(29,05,81,557)
31,91,03,998
(2,08,27,258)
(29,05,81,557)
46,06,81,479
The 4.company
3. Seguro
INKEL INKEL
KINFRA Consortium
Infrastructure
is engaged intax LLPProjects
providing Ltd.
infrastructure 11,01,30,055
2,01,87,290
facilities and other services -
in connection with11,01,30,055
2,01,87,290
infrastructure
B.Total Expenses(including expense) (14,27,22,458)
(2,08,27,258) 30,89,65,925
- 44,74,65,018
(14,27,22,458)
(2,08,27,258)
projects.
C.4. In the opinion ofthe
the management, this is the only primary reportable segment within the1,32,16,461
meaning of
5.Net Profit/(Loss)
INKES
Seguro Trade from
INKELCentre
Consortium LtdJoint
LLPVenture 7,59,798
11,01,30,055 1,01,38,073
- 7,59,798
11,01,30,055
Accounting Standard-17 notified by the Companies
D. Share of Income/(Loss) of the Company in the above (14,27,22,458)(Accounting Standard) Rules 2006.
50,69,036 59,47,407
(84,59,798) - (84,59,798)
(14,27,22,458)

6.
5. Inkel-EKK
INKES Trade Roads
CentrePvt Ltd
Limited 2,58,90,420
7,59,798 - 2,58,90,420
7,59,798
Note 2.32 Interest in joint ventures (1,63,497)
(84,59,798) - (1,63,497)
(84,59,798)
6. Inkel-EKK Roads Pvt Limited
Particulars
2,58,90,420
As at 31.03.2017
-
As at 31.03.2016
2,58,90,420
2.32.1.
Assets of Seguro INKELrelated
the Company Consortium LLP
to interest in the JCE (1,63,497) - (1,63,497)
The Company
-Loans has a 45%
and advances granted(45%) ownership
to the JCE interest and 50% (45%) share of profit in the Jointly
11,01,30,055 controlled
14,27,22,458
entity (JCE) -Seguro INKEL Consortium LLP, incorporated in India.

Details of Revenue Transactions in the above said joint venture are as under : (In Rupees)
For the year ended
For 31.03.2017
the year ended For
For the
the year
year ended
ended
Particulars
Particulars
31.03.2017 31.03.2016
31.03.2016
(See Note 2.32.2 )
A.Total Revenue For the31,91,03,998
year ended- For the46,06,81,479
year ended -
Particulars
B.Total Expenses(including tax expense) 30,89,65,925
31.03.2017 - 44,74,65,018
31.03.2016 6,67,530
A.Total
C. Revenue from the Joint Venture
Net Profit/(Loss) 1,01,38,073
31,91,03,998
- 1,32,16,461
46,06,81,479
(6,67,530)
B.Total
D. ShareExpenses(including
of Income/(Loss) oftax theexpense)
Company in the above 50,69,036
30,89,65,925
- 59,47,407
44,74,65,018
(2,00,259)
C. Net Profit/(Loss) from the Joint Venture 1,01,38,073 1,32,16,461
D. Share of Income/(Loss) of the Company in the above 50,69,036 59,47,407
Details of other items related to the interest in the JCE are as under:
Particulars As at 31.03.2017 (In Rupees)
As at 31.03.2016
Particulars As at 31.03.2017 As at 31.03.2016
Assets of the Company related to interest in the JCE
Ownership Particulars As at 31.03.2017 As at 31.03.2016
-Loans andinterest in the
advances Joint
granted Venture
to the JCE -
11,01,30,055 30%
14,27,22,458
Assetsofofthe
theOther
Company related to interest EKK Infrastructural
Name Venturer in the JCE in the JCE -
-Loans and advances granted to the JCE 11,01,30,055 Private Limited
14,27,22,458
Assets of the Company related to interest in the JCE -
The other venturer
-Advances grantedintothe
theJCE
JCEis Seguro Foundations and StructuralsFor Private Limited
the year ended , which has1,63,497
the remaining
For the year ended
50% (55%) ownership interest in the JCE.
Particulars 31.03.2017
31.03.2016
(Seethe
For Note 2.32.2
year ended )
For the year ended
A.Total Revenue Particulars 31.03.2017 - -
31.03.2016
B.Total Expenses(including tax expense) (See Note 2.32.2-) 6,67,530
Particulars As at 31.03.2017 As at 31.03.2016
C. Net Profit/(Loss)
A.Total Revenue from the Joint Venture - (6,67,530)
-
D. ShareExpenses(including
B.Total of Income/(Loss) oftax Company in the above 56
theexpense) - (2,00,259)
6,67,530
C. Corporate
a) Net Profit/(Loss) fromissued
guarantee the Joint Venture
in favour of - - (6,67,530)
 Particulars
For the year ended ANNUAL
For the year ended
31.03.2017
For the
the year
year ended
ended
REPORT
31.03.2016
For the
the year
year ended
ended
A.Total Revenue Particulars For For 2016-2017
Particulars the31,91,03,998
For 31.03.2017
year ended 46,06,81,479
For 31.03.2016
the year ended
Particulars
B.Total Expenses(including tax expense) 31.03.2017
30,89,65,925 31.03.2016
44,74,65,018

A.Total Revenue
A.Total Revenue 31.03.2017
31,91,03,998
31,91,03,998
31.03.2016
46,06,81,479
46,06,81,479
C. Net Profit/(Loss) from the Joint Venture 1,01,38,073 1,32,16,461
2.32.2
A.Total
B.Total
B.Total
D. Share
Revenue
Inkel-EKK Roadsoftax
Expenses(including
Expenses(including
of Income/(Loss) Private
tax
the Limited
expense)
expense)
Company in the above
31,91,03,998
30,89,65,925
30,89,65,925
50,69,036
46,06,81,479
44,74,65,018
44,74,65,018
59,47,407
B.Total
C. Expenses(including tax expense) 30,89,65,925 44,74,65,018
C. Net
During Profit/(Loss)
Netthe from
from the
current year,
Profit/(Loss) Joint
Joint Venture
consequent
the 1,01,38,073
to acquisition of additional shares, Inkel-EKK
Venture Roads Private
1,01,38,073 1,32,16,461
Limited is
1,32,16,461
C.
D. Net Profit/(Loss) from the JointCompany
Venture 1,01,38,073 1,32,16,461
D. Share
Share of
a subsidary Income/(Loss)
of of the company
Income/(Loss) of
of the Company in
in the
. Accordingly,
the the disclosures under Accounting50,69,036
the above
above Standard(AS)- 27 on59,47,407
50,69,036 Financial
59,47,407
D. Share of Income/(Loss) of the Company in the above 50,69,036 59,47,407
Reporting of Interests in Joint Ventures are not applicable at this stage.
Particulars As atThe dislosures forAs
31.03.2017 theat previous
31.03.2016year
are as follows:
Particulars
Assets of the Company related to interest in the JCE
Particulars As at
As at 31.03.2017
31.03.2017 As at
As at 31.03.2016
31.03.2016
Particulars
-Loans and advances granted to the JCE As at 31.03.2017
11,01,30,055 As at 31.03.2016
14,27,22,458
Details
Assetsof
Assets of Revenue
of the Transactions
the Company
Company related to
related in the
to interest
interest in above
in JCEsaid joint venture are as under :
the JCE
the
Assets
(Based of
-Loanson the
andtheCompany related
Unaudited
advances to interest
financial
granted to the in the JCE
statements certified by the management
the JCE
JCE of the Company)
11,01,30,055
11,01,30,055 14,27,22,458
14,27,22,458
-Loans and advances granted to
-Loans and advances granted to the JCE 11,01,30,055 14,27,22,458
For the year ended
For the year ended
Particulars 31.03.2017
For
For the
the year
year ended
ended 31.03.2016
(See
For Note
the 2.32.2
year ended ) For
For the
the year
year ended
ended
Particulars
Particulars 31.03.2017
31.03.2017 - For 31.03.2016
the year ended
A.Total Revenue Particulars 31.03.2017 31.03.2016 -
(See Note
(See Note 2.32.2
2.32.2 )) 31.03.2016
B.Total Expenses(including tax expense) (See Note 2.32.2--) 6,67,530
A.Total Revenue
A.Total Revenue --
C. Net Profit/(Loss)
A.Total Revenue from the Joint Venture --- (6,67,530)
-
B.Total
B.Total Expenses(including tax
Expenses(including tax expense)
expense) --- 6,67,530
6,67,530
D. ShareExpenses(including
B.Total of Income/(Loss) oftax
theexpense)
Company in the above (2,00,259)
C.
C. Net Profit/(Loss)
Net Profit/(Loss) from
from the
the Joint
Joint Venture
Venture --- 6,67,530
(6,67,530)
(6,67,530)
C. Share
Net Profit/(Loss) from the
ofJoint Venture in the above -- (6,67,530)
D.
Details
D. Share of
of of Income/(Loss)
other items related
Income/(Loss) of the to
the Company
the interest
Company in the JCE are as under:
in the above - (2,00,259)
(2,00,259)
D. Share of Income/(Loss) of the Company in the above - (2,00,259)
(In Rupees)
Particulars As at 31.03.2017 As at 31.03.2016
Ownership interest in the Joint Particulars
Venture
Particulars As
As at
at 31.03.2017
-
31.03.2017 As
As at
at 31.03.2016
30%
31.03.2016
Particulars As at 31.03.2017 As atInfrastructural
EKK 31.03.2016
Ownership
Name of theinterest
Ownership in
in the
the Joint
Other Venturer
interest Venture
in the
Joint JCE
Venture -- 30%
Ownership interest in the Joint Venture - Private30%
Limited
30%
EKK
EKK Infrastructural
Infrastructural
Name
Assetsof
Name ofofthe
theOther
the Other Venturer
Company in
in the
related
Venturer JCE
to interest
the JCE in the JCE --- EKK Infrastructural
Name of thegranted
Other Venturer in the JCE - Private
Private Limited
Limited
-Advances to the JCE 1,63,497
Private Limited
Assets
Assets of
of the
the Company
Company related
related to
to interest
interest in
in the
the JCE
JCE --
Assets of thegranted
-Advances Companyto related
the JCE to interest in the JCE - 1,63,497
-Advances granted to the JCE 1,63,497
-Advances granted to the JCE 1,63,497

Note - 2.33 Contingent Liabilities not provided for :

Particulars As at 31.03.2017 (In Rupees)
As at 31.03.2016

Particulars
Particulars As
As at
at 31.03.2017
31.03.2017 As
As at
at 31.03.2016
31.03.2016
a) Corporate guarantee issued Particulars
in favour of - As at 31.03.2017 As at 31.03.2016
- MIV Logistics Private Limited 23,20,09,630 23,19,74,071
a)
a) Corporate
Corporate guarantee
guarantee issued
issued inin favour
favour of --
- Seguro-INKEL
a) Corporate guaranteeConsortium
issued LLP of
in favour of - 57,50,00,000 24,00,00,000
-- MIV Logistics Private Limited
MIV Logistics Private Limited 23,20,09,630
23,20,09,630 23,19,74,071
23,19,74,071
--- MIV Logistics Private
Seguro-INKEL Limited
Consortium LLP 23,20,09,630
57,50,00,000 23,19,74,071
24,00,00,000
b) Bank Seguro-INKEL Consortium
guarantee issued in favourLLP
of - 57,50,00,000 24,00,00,000
- Seguro-INKEL Consortium LLP 57,50,00,000 24,00,00,000
- Inkel-EKK Roads Private Limited 1,22,00,00,000 -
b) Bank
b) Bank guarantee
guarantee issued
issued in
in favour
favour of
of --
b) Bank guaranteeRoads
- Inkel-EKK
Inkel-EKK issuedPrivate
in favour of -
Limited 1,22,00,00,000
-
c) Claims Roads
towardsRoads Private
Building Limited
Tax Limited 1,22,00,00,000
1,13,50,872 --
30,16,979
- Inkel-EKK Private 1,22,00,00,000 -
c) Claims
c) Claims towards
towards Building
Building Tax
Tax 1,13,50,872
1,13,50,872 30,16,979
30,16,979
c) Claims towards Building Tax 1,13,50,872 30,16,979

Note - 2.34 Capital Commitments

Particulars As at 31.03.2017 (In Rupees)
As at 31.03.2016
Particulars
Estimated amount of contracts remaining to be executed on capital
Particulars As at
As at 31.03.2017
31.03.2017
65,10,446 As at
As at 31.03.2016
31.03.2016
3,27,92,689
account and not provided forParticulars As at 31.03.2017 As at 31.03.2016
Estimated amount
Estimated amount of
of contracts
contracts remaining
remaining to
to be
be executed
executed on
on capital
capital 65,10,446
65,10,446 3,27,92,689
3,27,92,689
Estimated
account amount
and not of contracts
provided for remaining to be executed on capital 65,10,446 3,27,92,689
account and not provided for
account and not provided for

For the year ended For the year ended

Particulars
31.03.2017 31.03.2016
For the
For the year
year ended
ended For the
For the year
year ended
ended
Particulars
Year to which dividend relates
Particulars ForFinancial
the year year
ended ForFinancial
the year year
ended
Particulars 31.03.2017
31.03.2017 31.03.2016
31.03.2016
2015-2016
31.03.2017 2014-2015
31.03.2016
Year to
Year to which
which dividend
dividend relates
relates Financial
Financial year
year Financial
Financial year
year
Amount remitted duringrelates
the year 88,00,000 66,00,000
57
Year to which dividend Financial year
2015-2016 Financial year
2014-2015
Number of non resident shareholders 2015-2016 4 2014-2015 4
Amount remitted
remitted during
during the
the year
year 2015-2016
88,00,000 2014-2015
66,00,000
Amount
Number remitted
of sharesduring
on which dividend was due 88,00,000
2,20,00,000 66,00,000
22,000
Amount
Number of non resident the year
shareholders 88,00,000
4 66,00,0004
 Particulars As at 31.03.2017 As ANNUAL
at 31.03.2016
REPORT
Estimated amount of contracts remaining to be executed on capital 65,10,446 2016-2017
3,27,92,689
account and not provided for

Note - 2.35 Dividend Remittances in foreign currency (In Rupees)

For the year ended For the year ended
Particulars
31.03.2017 31.03.2016
Year to which dividend relates Financial year Financial year
2015-2016 2014-2015
Amount remitted during the year 88,00,000 66,00,000
Number of non resident shareholders 4 4
Number of shares on which dividend was due 2,20,00,000 22,000

Note - 2.36
Figures have been rounded off to the nearest rupee. Previous year figures unless otherwise stated are given
within brackets and have been regrouped and recast wherever necessary.

For and on behalf of the Board of Directors As per our separate report of even date attached

T. Balakrishnan, Managing Director M.M. Abdul Basheer, Director For Varma & Varma
DIN: 00052922 DIN: 00120916 Chartered Accountants
Firm No.004532S

K. Padmadasan, George Raphael, Vijay Narayan Govind

Company Secretary Chief Financial Officer (Partner)
Membership No.203094
Place : Kochi
Date : 23.06.2017

58

INDEPENDENT AUDITORS’ REPORT
To The Members of Inkel Limited,
Kochi
Report on the Consolidated Financial
Statements
We have audited the accompanying consolidated
financial statements of Inkel Limited (“hereinafter
referred to as “the Holding Company”) and its
subsidiary companies–Inkel-KSIDC Projects Limited,
Inkel - KINFRA Infrastructure Projects Limited,
INKEL-EKK Roads Private Limited andINKES
Trade Centre Limited(the Holding company and its
subsidiary companies together referred to as “the
Group”), it’s associate company (MIV Logistics
Private Limited) and its jointly controlled entity
(Seguro-INKEL Consortium LLP),comprisingof the
Consolidated Balance Sheet as at 31st March,
2017, the Consolidated Statement of Profit and
Loss, the Consolidated Cash Flow Statement
for the year then ended, and a summary of
the significant accounting policies and other
explanatory information (hereinafter referred to as
“the consolidated financial statements”).
Management’s Responsibility for the
Consolidated Financial Statements
The Holding Company’s Board of Directors is
responsible for the preparation of these consolidated
financial statements in terms of the requirements
of the Companies Act, 2013 (hereinafter referred
to as “the Act”) that give a true and fair view of
the consolidated financial position, consolidated
financial performance and consolidated cash flows
of the Group including its associate company and
jointly controlled entity in accordance with the
accounting principles generally accepted in India,
including the Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014. The respective
Board of Directors of the companies included in the
Group including its associate company and jointly
controlled entity are responsible for maintenance of
adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets
of the Group, its associate company and its jointly
controlled entity and for preventing and detecting
frauds and other irregularities; the selection and
application of appropriate accounting policies;
59
ANNUAL
REPORT
2016-2017
making judgments and estimates that are reasonable
and prudent; and the design, implementation and
maintenance of adequate internal financial controls,
that were operating effectively for ensuring the
accuracy and completeness of the accounting
records, relevant to the preparation and presentation
of the financial statements that give a true and fair
view and are free from material misstatement,
whether due to fraud or error, which have been used
for the purpose of preparation of the consolidated
financial statements by the Directors of the Holding
Company, as aforesaid.
Auditors’ Responsibility
Our responsibility is to express an opinion on
these consolidated financial statements based
on our audit. While conducting the audit, we have
taken into account the provisions of the Act, the
accounting and auditing standards and matters
which are required to be included in the audit report
under the provisions of the Act and the Rules made
thereunder.
We conducted our audit in accordance with the
Standards on Auditing specified under Section
143(10) of the Act. Those Standards require that
we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance
about whether the consolidated financial statements
are free from material misstatement.
An audit involves performing procedures to obtain
audit evidence about the amounts and the
disclosures in the consolidated financial statements.
The procedures selected depend on the auditors’
judgment, including the assessment of the risks of
material misstatement of the consolidated financial
statements, whether due to fraud or error. In making
those risk assessments, the auditor considers
internal financial control relevant to the Holding
Company’s preparation of the consolidated financial
statements that give a true and fair view in order to
design audit procedures that are appropriate in the
circumstances. An audit also includes evaluating
the appropriateness of the accounting policies used
and the reasonableness of the accounting estimates
made by the Holding Company’s Board of Directors,
as well as evaluating the overall presentation of the
consolidated financial statements.

We believe that the audit evidence obtained by
us and the audit evidence obtained by the other
auditors in terms of their reports referred to in sub-
paragraph (a) of the Other Matters paragraph below,
is sufficient and appropriate to provide a basis
for our audit opinion on the consolidated financial
statements.
Opinion
In our opinion and to the best of our information and
according to the explanations given to us and based
on the consideration of reports of other auditors on
the separate financial statements and on the other
financial information of the subsidiary companies,
associate company and jointly controlled entity, the
aforesaid consolidated 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, of the consolidated state of affairs of the
Group, its associate company and jointly controlled
entity as at 31st March, 2017, and their consolidated
loss and their consolidated cash flows for the year
ended on that date.
Emphasis of Matter
We draw attention to Note No 2.14.1 to the
Consolidated Financial Statements which states
that having regard to the plan for future operations
of the associate company and the realizable
value of assets owned by the said Company, the
management is of the opinion that there is no
permanent diminution in the value of investment in
preference shares.
Our opinion is not modified in respect of this matter.
Other Matters
a) We did not audit the financial statements/
financial information of the four subsidiary
companies and one jointly controlled entity whose
financial statements /financial information reflect
total assets of Rs 1,42,63,32,412/- and net assets
of Rs 35,59,99,335/- as at March 31,2017, total
revenues of Rs 34,85,73,531/- and net cash inflow
amounting to Rs 50,41,135/- for the year ended on
that date, as considered in the consolidated financial
statements.The consolidated financial statements
also include the Group’s share of net loss of Rs Nil
for the year ended 31st March, 2017 as considered
in the consolidated financial statements, in respect
60
ANNUAL
REPORT
2016-2017
of one associate company, whose financial
statements/financial information have not been
audited by us.These financial statements/financial
information have been audited by other auditors
whose reports have been furnished to us by the
Management and our opinion on the consolidated
financial statements, in so far as it relates to the
amounts and disclosures included in respect of
these subsidiary companies, associate company
and jointly controlled entity, and our report in terms
of sub-section (3) of Section 143 of the Act, in so far
as it relates to the aforesaid subsidiary companies,
jointly controlled entity and associate company, is
based solely on the reports of the other auditors.
b) As stated in Note No 1.b.(iv) to the Consolidated
Financial Statements,the Consolidated Financial
Statements of the associate company –M/s. MIV
Logistics Private Limited has been prepared using
the unaudited financial statements of its associate
company - M/s. Seabird Seaplane Private Limited,
as stated in the Independent Auditors’ Report
on the Consolidated Financial Statements of the
said company.In our opinion and according to the
information and explanations given to us by the
Management, the impact of the financial statements
/ financial information of M/s Seabird Seaplane
Private Limited are not material to the Group.
c) As stated in Note No 1.b.(ii) to the Consolidated
Financial Statements, during the financial year
2014-15, the Holding Company has written off the
book value of investments made in earlier years in
the subsidiary companies Thalikulam PURA Private
Limited and Tirurangadi PURA Private Limited
for the reasons stated therein. Neither of these
companies has any significant assets or liabilities.
In view of the provisions of Accounting Standard -21
on Consolidated Financial Statements, these entities
have been excluded for the purpose of consolidation,
the effect of which is not material.
Our opinion above on the consolidated financial
statements, and our report on Other Legal
andRegulatory Requirements below, is not modified
in respect of the above matters with respect to
our reliance on the work done and the reports of
the other auditors and the financial statements /
financial information certified by the Management.

Report on Other Legal and Regulatory
Requirements
1. As required by Section143(3) of the Act, based
on our audit and on the consideration of report of
the other auditors on separate financial statements
and the other financial information of subsidiary
companies, associate company and jointly controlled
entity, as noted in the ‘other matter’ paragraph, we
report, to the extent applicable, that:
(a) We have sought and obtained all the information
and explanations which to the best of our knowledge
and belief were necessary for the purposes of
our audit of the aforesaid consolidated financial
statements.
(b) In our opinion, proper books of account as
required by law relating to preparation of the
aforesaid consolidated financial statements have
been kept so far as it appears from our examination
of those books and the reports of the other auditors.
(c) The Consolidated Balance Sheet, the
Consolidated Statement of Profit and Loss, and the
Consolidated Cash Flow Statement dealt with by this
Report are in agreement with the relevant books of
account maintained for the purpose of preparation
of the consolidated financial statements.
(d) In our opinion, the aforesaid consolidated
financial statements comply with the Accounting
Standards specified under Section 133 of the Act,
read with Rule 7 of the Companies (Accounts)
Rules, 2014.
(e) On the basis of the written representations
received from the directors of the Holding Company
as on 31st March, 2017 taken on record by the
Board of Directors of the Holding Company and the
reports of the statutory auditors of its subsidiary
companies and associate company incorporated in
India, none of the directors of the Group companies,
its associate company incorporated in India is
disqualified as on 31st March, 2017 from being
appointed as a director in terms of Section 164 (2)
of the Act.
(f) With respect to the adequacy of the internal
financial controls over financial reporting of the
Group including its associate company, which are
companies incorporated in India, and the operating
effectiveness of such controls, refer to our separate
Report in “Annexure A”.
61
ANNUAL
REPORT
2016-2017
(g) With respect to the other matters to be included
in the Auditors’ Report in accordance with Rule 11
of the Companies (Audit and Auditors) Rules, 2014,
in our opinion and to the best of our information and
according to the explanations given to us and based
on the consideration ofthe report of the other auditors
on standalone financial statements as also the other
financial information of the subsidiary companies,
associate company and jointly controlled entity, as
noted in the ‘Other matter’ paragraph:
i. The consolidated financial statements
disclose the impact of pending litigations on the
consolidated financial position of the Group, its
associate company and jointly controlled entity
– Refer Note No 2.35.I.(b), to the consolidated
financial statements.
ii. The Group, its associate company and
jointly controlled entity did not have any material
foreseeable losses on long-term contracts
including derivative contracts.
iii. There has been no delay in transferring
amounts, required to be transferred, to the
Investor Education and Protection Fund by
the Holding Company. There were no amounts
which were required to be transferred to the
Investor Education and Protection Fund by the
Subsidiary Companies and associate company
incorporated in India.
iv. The Group and its jointly controlled entity
has provided requisite disclosures in the
consolidated financial statements as to holdings
as well as dealings in Specified Bank Notes
during the period from 8th November, 2016 to
30th December, 2016 of the group and its jointly
controlled entity as applicable. Based on audit
procedures performed and the representations
provided to us by the management and the
reports of the other auditors, we report that the
disclosures are in accordance with the relevant
books of accounts maintained by the respective
companies for the purpose of preparation of
the consolidated financial statements and as
produced to us and to the other auditors by the
Management of the Holding Company and of the
respective companies– Refer Note No 2.19.5 to
the consolidated financial statements.
Place: Kochi-19
Date: 23.06.2017

ANNEXURE A REFERRED TO IN PARAGRAPH 1(f) UNDER THE HEADING
“REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS” OF OUR
INDEPENDENT AUDIT REPORT OF EVEN DATE ON THE CONSOLIDATED
FINANCIAL STATEMENTS OF INKEL LIMITED, ITS FOURSUBSIDIARY
COMPANIES AND ASSOCIATE COMPANY INCORPORATED IN INDIA FOR
THE YEAR ENDED 31ST MARCH 2017
Report on the Internal Financial Controls
under Clause (i) of Sub-section 3 of
Section 143 of the Companies Act, 2013
(“the Act”)
In conjunction with our audit of the consolidated
financial statements of Inkel Limited (“hereinafter
referred to as “the Holding Company”) and its
foursubsidiary companies – Inkel-KSIDC Projects
Limited, Inkel-KINFRA Infrastructure Projects
Limited, INKEL-EKK Roads Private Limited and
INKESTrade Centre Limited (the Holding company
and its subsidiary companies together referred to
as “the Group”) and its associate company(MIV
Logistics Private Limited), which are companies
incorporated in India,as of and for the year ended
March 31, 2017, we have audited the internal
financial controls over financial reporting of the
Group and its associate company, as of that date.
Management’s Responsibility for
Internal Financial Controls
The respective Board of Directors of the Holding
company, its subsidiary companies and its associate
company, which are companies incorporated
in India, are responsible for establishing and
maintaining internal financial controls based on
the internal control over financial reporting criteria
established by the Company considering the
essential components of internal control stated in
the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by
the Institute of Chartered Accountants of India
(ICAI). These responsibilities include the design,
implementation and maintenance of adequate
internal financial controls that were operating
effectively for ensuring the orderly and efficient
conduct of its business, including adherence to the
respective company’s policies, the safeguarding of
its assets, the prevention and detection of frauds
and errors, the accuracy and completeness of the
62
ANNUAL
REPORT
2016-2017
accounting records, and the timely preparation of
reliable financial information, as required under the
Companies Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the
Group’s and its associate company’s internal
financial controls over financial reporting based on
our audit. We conducted our audit in accordance
with the Guidance Note on Audit of Internal
Financial Controls Over Financial Reporting (the
“Guidance Note”) issued by the ICAI and the
Standards on Auditing, issued by ICAI and deemed
to be prescribed under section 143(10) of the
Companies Act, 2013, to the extent applicable to an
audit of internal financial controls, both applicable
to an audit of Internal Financial Controls and, both
issued by the Institute of Chartered Accountants
of India. Those Standards and the Guidance Note
require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable
assurance about whether adequate internal financial
controls over financial reporting was established and
maintained and if such controls operated effectively
in all material respects.
Our audit involves performing procedures to obtain
audit evidence about the adequacy of the internal
financial controls system over financial reporting
and their operating effectiveness.
Our audit of internal financial controls over financial
reporting included obtaining an understanding of
internal financial controls over financial reporting,
assessing the risk that a material weakness exists,
and testing and evaluating the design and operating
effectiveness of internal control based on the
assessed risk. The procedures selected depend on
the auditors’judgment, including the assessment of
the risks of material misstatement of the financial
statements, whether due to fraud or error.

We believe that the audit evidence we have obtained
and the audit evidence obtained by the other
auditors in terms of their reports referred to in the
Other Matters paragraph below, is sufficient and
appropriate to provide a basis for our audit opinion
on the Group’s and its associate company’s internal
financial controls system over financial reporting.
Meaning of Internal Financial Controls
Over Financial Reporting
A company’s internal financial control over
financial reporting is a process designed to provide
reasonable assurance regarding the reliability of
financial reporting and the preparation of financial
statements for external purposes in accordance
with generally accepted accounting principles. A
company’s internal financial control over financial
reporting includes those policies and procedures
that (1) pertain to the maintenance of records that,
in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit
preparation of financial statements in accordance
with generally accepted accounting principles, and
that receipts and expenditures of the company are
being made only in accordance with authorisations of
management and directors of the company; and (3)
provide reasonable assurance regarding prevention
or timely detection of unauthorised acquisition, use,
or disposition of the company’s assets that could
have a material effect on the financial statements.
Inherent Limitations of Internal
Financial Controls Over Financial
Reporting
Because of the inherent limitations of internal
financial controls over financial reporting, including
63
ANNUAL
REPORT
2016-2017
the possibility of collusion or improper management
override of controls, material misstatements due to
error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial
controls over financial reporting to future periods are
subject to the risk that the internal financial control
over financial reporting may become inadequate
because of changes in conditions, or that the degree
of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, the Holding Company, its subsidiary
companies and associate company, which are
companies incorporated in India, have, in all
material respects, an adequate internal financial
controls system over financial reporting and such
internal financial controls over financial reporting
were operating effectively as at March 31, 2017,
based on the internal control over financial reporting
criteria established by the respective companies
considering the essential components of internal
control stated in the Guidance Note on Audit of
Internal Financial Controls Over Financial Reporting
issued by the Institute of Chartered Accountants of
India.
Other Matters
Our aforesaid report under Section 143(3)(i) of the
Act on the adequacy and operating effectiveness
of the internal financial controls over financial
reporting in sofar as it relates to four subsidiary
companies and one associate company, which
are companies incorporated in India, is based on
the corresponding reports of the auditors of such
companies incorporated in India.
Place: Kochi-19
Date: 23.06.2017
 ANNUAL
REPORT
2016-2017

CONSOLIDATED BALANCE SHEET AS AT 31st MARCH,2017

As at 31.03.2017 As at 31.03.2016 A
Particulars Note No.
(In Rupees) (In Rupees)

I. EQUITY AND LIABILITIES

(1) Shareholder's Funds
(a) Share capital 2.1 1,63,02,70,000 1,63,02,70,000
(b) Reserves and surplus 2.2 4,54,40,534 5,73,81,276
(c) Minority Interest 2.3 12,39,17,005 5,50,22,839

(2) Non - Current Liabilities

(a) Long -term borrowings 2.4 32,91,48,942 3,00,00,000
(b) Deferred tax liabilities (Net) 2.5 5,07,78,895 4,82,22,264
(c) Other long -term liabilities 2.6 3,92,38,403 2,33,34,231
(d) Long - term provisions 2.7 38,07,383 24,53,432

(3) Current Liabilities

(a) Short term borrowings 2.8 5,63,27,823 9,38,83,170
(b) Trade payables 2.9
i. Total outstanding dues of micro enterprises and small enterprises; and - 3,13,999
ii. Total outstanding dues other than micro enterprises and small enterprises 6,67,70,969 2,24,96,849
(c) Other current liabilities 2.10 22,53,63,662 12,67,31,747
(d) Short term provisions 2.11 2,49,76,844 12,36,23,473
TOTAL 2,59,60,40,460 2,21,37,33,280
II. ASSETS
(1) Non - current assets
(a) Fixed assets
(i) Tangible assets (Property, Plant and Equipment) 2.12 1,09,75,77,006 1,14,04,85,086
(ii) Intangible assets 2.12 2,26,547 3,59,618
(iii) Capital work - in - progress 2.13 40,23,81,077 3,09,53,001
(b) Goodwill on Consolidation 2.37 3,34,381 -
(c) Non - current investments 2.14 16,05,00,000 16,05,00,000
(d) Long -term loans and advances 2.15 12,41,85,380 13,43,90,865
(e) Other non-current assets 2.16 4,58,77,862 3,90,34,480

(2) Current Assets

(a) Inventories 2.17 - -
(b) Trade receivables 2.18 21,67,08,771 38,14,23,732
(c) Cash and cash equivalents 2.19 36,68,16,040 20,43,30,147
(d) Short - term loans and advances 2.20 15,68,07,085 10,28,86,791
(e) Other current assets 2.21 2,46,26,311 1,93,69,560
TOTAL 2,59,60,40,460 2,21,37,33,280

Significant accounting policies and consolidated notes to accounts 1&2

The accompanying notes are an integral part of the financial statements
For
and on behalf of the Board
of Directors As per our separate report of even date attached
T. Balakrishnan, Managing Director M.M. Abdul Basheer, Director For Varma & Varma
DIN: 00052922 DIN: 00120916 Chartered Accountants
Firm No.004532S
K. Padmadasan, George Raphael, Vijay Narayan Govind
Company Secretary Chief Financial Officer (Partner)
Membership No.203094
Place : Kochi
Date : 23.06.2017

64
 ANNUAL
REPORT
2016-2017

CONSOLIDATED STATEMENT OF PROFIT AND LOSS FOR THE

YEAR ENDED 31st MARCH 2017
For the year ended For the year ended
Note
Particulars 31.03.2017 31.03.2016
No.
(In Rupees) (In Rupees)
I. Revenue
Revenue from Operations 2.22 40,77,33,895 52,51,12,576
Other Income 2.23 3,80,90,616 6,00,26,022
II. Total Revenue 44,58,24,511 58,51,38,598
lll. Expense:
Cost of land acquired/building/amenities constructed and disposed (on
Long Term Finance Lease Agreements) 2.24 6,39,53,246 12,25,47,226
Purchase of Stock in Trade 2.25 6,06,88,285 -
Operating Expense 2.26 12,36,07,416 17,13,31,027
Employee benefit expense 2.27 4,74,64,447 3,04,87,611
Finance costs 2.28 2,57,39,041 1,05,80,313
Depreciation and amortisation expense 2.12 4,64,71,390 3,81,42,679
Other expense 2.29 7,20,19,714 5,00,02,926
IV.Total Expense 43,99,43,539 42,30,91,782

V. Profit/(Loss) Before Tax (II - IV) 58,80,972 16,20,46,816

VI. Tax Expense:

(1) Current tax 3,73,20,842 4,40,08,196
Less: MAT credit entitlement 1,28,24,458 -
Net current tax 2,44,96,384 4,40,08,196
(2) Tax - prior years 2,74,415 50,501
(3) Deferred tax 25,56,749 2,26,64,368

VII. Profit/(Loss) for the year before Minority Interest, Share in Net
Profit/ (Loss) of Associate (2,14,46,576) 9,53,23,751

VIII. Share of Profit/ (Loss) of Associate Company - (6,38,48,322)

IX. Profit/ (Loss) for the year (2,14,46,576) 3,14,75,429

X. Profit/ (Loss) attributable to

Owners of the Company (1,18,60,399) 4,22,14,402
Minority Interest (95,86,177) (1,07,38,973)
(2,14,46,576) 3,14,75,429
XI. Earning per Equity Share: 2.30
Face value of share Rs 10/- (Rs 10/-)
(1) Basic (0.07) 0.26
(2) Diluted (0.07) 0.26
Significant accounting policies and consolidated notes to accounts 1&2
The accompanying notes are an integral part of the financial statements
For
and on behalf of the Board
of Directors As per our separate report of even date attached
T. Balakrishnan, Managing Director M.M. Abdul Basheer, Director For Varma & Varma
DIN: 00052922 DIN: 00120916 Chartered Accountants
Firm No.004532S
K. Padmadasan, George Raphael, Vijay Narayan Govind
Company Secretary Chief Financial Officer (Partner)
Membership No.203094
Place : Kochi
Date : 23.06.2017

65
 ANNUAL
REPORT
2016-2017

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR

ENDED 31st MARCH 2017
(In Rupees)

For the Year ended For the Year ended

Particulars
31.03.2017 31.03.2016
A CASH FLOW FROM OPERATING ACTIVITIES
Profit Before Taxation and exceptional items 58,80,972 16,20,46,816
Adjustments for :
Depreciation and Amortisation 4,64,71,390 3,81,42,679
(Profit)/Loss on sale of Assets(Net) (1,43,715) 1,11,006
Interest Income (2,33,91,896) (5,34,03,080)
Interest paid 2,57,39,041 1,05,80,313
Conversion of fixed assets to current assets 6,39,53,246 12,25,47,226

Operating profit before Working Capital Changes 11,85,09,038 28,00,24,960

Changes in Working Capital
Adjustments for ( Increase )\Decrease in Operating Assets
Trade Receivables 16,47,14,961 (17,74,43,186)
Short term loans and advances (5,39,20,294) 1,79,39,237
Other Current Assets (1,20,72,356) (8,03,199)
Long term Loans and Advances (61,45,432) 1,19,58,773
Other Non Current Assets (39,38,994) 5,43,24,393

8,86,37,885 (9,40,23,982)
Adjustments for increase ( Decrease ) in Operating Liabilities
Trade Payables 4,39,60,121 1,12,56,623
Other Current Liabilities 4,45,15,878 (2,82,54,628)
Short term Provisions (14,55,771) 25,77,472
Long term Provisions 13,53,951 12,88,813
Long Term Liabilities 1,35,72,080 1,76,07,991
10,19,46,259 44,76,271
Cash generated from Operations 30,90,93,182 19,04,77,249
Taxes Paid (3,63,56,141) (4,13,29,075)

Net Cash Used in Operating activities ( A ) 27,27,37,041 14,91,48,174

B CASH FLOW FROM INVESTING ACTIVITIES

Purchase of Fixed Assets including Capital WIP (38,01,08,699) (30,80,45,713)
Proceeds from sale of Fixed assets 2,88,557 1,00,000
(Investments)/Sale of Equity shares/Preference Shares - (16,00,00,000)
Interest received on deposits 3,11,75,646 4,70,42,240
Goodwill on Consolidation (3,34,381) -
Net Cash Used in Investing activities ( B 66) (34,89,78,877) (42,09,03,473)
 Long term Provisions 13,53,951 12,88,813
Long Term Liabilities 1,35,72,080 1,76,07,991
10,19,46,259 44,76,271
Cash generated from Operations 30,90,93,182 19,04,77,249
ANNUAL
Taxes Paid (3,63,56,141) (4,13,29,075)
REPORT
2016-2017
Net Cash Used in Operating activities ( A ) 27,27,37,041 14,91,48,174

B CASH FLOW FROM INVESTING ACTIVITIES

Purchase of Fixed Assets including Capital WIP (38,01,08,699) (30,80,45,713)
Proceeds from sale of Fixed assets 2,88,557 1,00,000
(Investments)/Sale of Equity shares/Preference Shares - (16,00,00,000)
Interest received on deposits 3,11,75,646 4,70,42,240
Goodwill on Consolidation (3,34,381) -
Net Cash Used in Investing activities ( B ) (34,89,78,877) (42,09,03,473)
C CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid (6,49,65,400) (4,88,13,600)
Dividend distribution tax paid (1,32,75,385) (99,56,538)
Interest paid (2,30,25,081) (1,05,80,313)
Adjustments towards minority interest 7,84,00,000 1,28,70,000
Proceeds from Borrowings 26,15,93,595 12,38,83,170
Net Cash Generated By Financing Activities ( C ) 23,87,27,729 6,74,02,719
Net increase in Cash and Cash equivalents(A+B+C) 16,24,85,893 (20,43,52,580)
Cash and Cash equivalents at the beginning of the year 20,43,30,147 40,86,82,727
Closing Cash And Cash Equivalents 36,68,16,040 20,43,30,147

Cash and cash equivalents at the end of the year includes Rs.7,84,33,734/- (Rs.5,34,61,396/-) held under
lien, Rs.5,70,406 /- (Rs.3,25,006/-) deposited in unpaid dividend account which is earmarked for payment of
dividend and Rs.1,00,99,500/- (Rs.NIL/-) deposited in Deposit Repayment Reserve which is earmarked for
repayment of public deposits.

In case of the subsidiary company INKEL-EKK Roads Private Limited, balance with banks in deposit accounts
include Rs. 65,00,000/- held under lien.

For and on behalf of the Board of Directors As per our separate report of even date attached

T. Balakrishnan, Managing Director M.M. Abdul Basheer, Director For Varma & Varma
DIN: 00052922 DIN: 00120916 Chartered Accountants
Firm No.004532S

K. Padmadasan, George Raphael, Vijay Narayan Govind
Company Secretary Chief Financial Officer (Partner)
Membership No.203094
Place : Kochi
Date : 23.06.2017

67

Significant Accounting Policies and notes on
consolidated accounts for the financial year ended
31.03.2017
1. Significant Accounting Policies
a. Principles of Consolidation
The consolidated financial statements relate to
INKEL Limited (the ‘Company’), its subsidiary
companies, jointly controlled entity and the Group’s
share of profit / loss in its associate company.
The consolidated financial statements have been
prepared on the following basis:
i. The financial statements / financial information
of the subsidiary companies, jointly controlled entity
and associate company used in the consolidation
are drawn upto the same reporting date as that of
the Company, i.e., 31 March, 2017.
ii. The financial statements of the Company and
its subsidiary companies have been combined
on a line-by-line basis by adding together like
items of assets, liabilities, income and expense,
after eliminating intra-group balances, intra-group
transactions and resulting unrealised profits or
losses, unless cost cannot be recovered, as per AS
21 ‘Consolidated Financial Statements’.
iii. The consolidated financial statements include
the share of profit / loss of an associate entity which
has been accounted for using ‘equity method’ as per
AS 23 ‘Accounting for Investments in Associates in
Consolidated Financial Statements’. Accordingly,
the share of profit / loss of the associate entity
(the loss being restricted to the cost of investment)
has been added to / deducted from the cost of
investment.
68
ANNUAL
REPORT
2016-2017
iv. Share of profit / loss, assets and liabilities in
the jointly controlled entity, which is not subsidiary,
has been consolidated on a proportionate basis by
considering the book values of like items of assets,
liabilities, income and expense to the extent of the
Group’s equity interest in such entity as per AS 27
‘Financial Reporting of Interests in Joint Ventures’.
The intra-group balances, intra-group transactions
and unrealised profits or losses have been
eliminated to the extent of the Group’s share in the
entity.
v. The difference between the cost of investment
in the subsidiary company and the net assets at
the time of acquisition of shares in the subsidiary
company is recognized in the Consolidated Financial
Statements as Goodwill or Capital Reserve, as the
case may be.
vi. Minority interest in the net assets of the
consolidated subsidiaries consist of the amount of
equity attributable to the minority shareholders at
the date on which investments in the subsidiary
companies were made and further movements in
their share in the equity, subsequent to the dates
of investments. Net profit / loss for the year of the
subsidiaries attributable to minority interest is
identified and adjusted against the profit after tax of
the Group in order to arrive at the income attributable
to shareholders of the Company.
vii. Following subsidiary companies, associate
company and jointly controlled entity have been
considered in the preparation of the consolidated
financial statements:
 ANNUAL
REPORT
2016-2017

% of Holding and voting

power either directly
Name of the entity Relationship or indirectly through
subsidiary as at
31 March, 31 March,
2017 2016

INKEL KSIDC Projects Limited Subsidiary Company 74% 74%

INKEL KINFRA Infrastructure Projects Limited Subsidiary Company 74% 74%

INKES Trade Centre Limited Subsidiary Company 74% 74%

Jointly Controlled Entity

[Share of Profit or Loss : 45% 45%
SEGURO - INKEL Consortium LLP 50% w.e.f 01.04.2016 and
45% till 31.03.2016]

Subsidiary Company [from

INKEL- EKK Roads Private Limited 28.09.2016] 51% 30%
Jointly Controlled Entity
[till 27.09.2016]

MIV Logistics Private Limited Associate Company 39.43% 39.43%

viii. The consolidated financial statements have
been prepared using uniform accounting policies
for like transactions and other events in similar
circumstances and are presented to the extent
possible, in the same manner as the Company’s
separate financial statements.
b. Basis of Preparation
i. The Consolidated Financial Statements of Inkel
Limited (the Company) and its subsidiaries INKEL–
KINFRA Infrastructure Projects Limited, INKEL-
KSIDC Projects Limited, INKEL- EKK Roads Private
Limited and INKES Trade Centre Limited collectively
referred to as the ‘group’ and its associate MIV
Logistics Private Limited and jointly controlled
entitySeguro–INKEL Consortium LLP have been
prepared in accordance with Accounting Standard
- 21 (AS 21), “Consolidated Financial Statements”,
Accounting Standard – 23 (AS 23) “Accounting for
Investments in Associates in Consolidated Financial
Statements” and Accounting Standard – 27 (AS 27)
“Financial Reporting of Interests in Joint Ventures”
notified by the Companies (Accounting Standards)
Rules, 2006.
ii. During the financial year 2014-15, the company
had written off the book value of investments
made in earlier years in the subsidiary companies
Thalikulam PURA Private Limited and in Tirurangadi
PURA Private Limited as these companies have
not commenced any commercial activities and
there are no plans for revival. Neither of these
companies has any significant assets or liabilities.
In view of the provisions of Accounting Standard
-21 on Consolidated Financial Statements, these
entities have been excluded for the purpose of
consolidation, the effect of which is not material.
iii. During current year, INKEL- EKK Roads Private
Limited has become subsidiary company (previous
year Jointly Controlled Entity) of the Group on
account of direct holding of 51% (previous year
30%) by the holding company with effect from
28.09.2016. The financial statements/ financial
information of the company was drawn upto
27.09.2016 so as to ascertain Goodwill or Capital
Reserve as at the date of acquisition. The aforesaid
financial statements/ financial information as drawn
upto 27.09.2016 are unaudited and are as certified
by the Management of the company. The company
did not have any significant assets or liabilities

69

upto such date of acquisition and the impact of
the net assets and results of the company in the
Consolidated Financial Statement upto such date is
not considered material.
iv. In case of the consolidated financial statements
of the Associate company M/s MIV Logistics Private
Limited, as stated in the Basis of Accounting of the
SignificantAccounting Policies of the Consolidated
Financial Statements of M/s MIV Logistics Private
Limited, Seabird Seaplane Private Limited is
an associate company of MIV Logistics Private
Limited. Investments in the associate company M/s.
Seabird Seaplane Private Limited is accounted
for using the Equity Method of accounting as laid
down by Accounting Standard 23 – “Accounting for
investment in Associates in Consolidated Financial
Statements”. The investment is initially recognized
at cost and the carrying amount is increased or
decreased to recognize the investors’ share of
profit and loss of the investee after the date of
acquisition. No statutory audit has been conducted
by the associate company M/s. Seabird Seaplane
Private Limited for the year ended 31.03.2017 and
31.03.2016 as on date. The impact of the financial
results of M/s Seabird Seaplane Private Limited in
the consolidated financial statements of M/s INKEL
Limited is not considered material.
c. Basis of Accounting
The consolidated financial statements of the
Company have been prepared in accordance with
generally accepted accounting principles in India
(Indian GAAP). The Company has prepared these
consolidated financial statements to comply in all
material respects with the Accounting Standards
specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
The consolidated financial statements have been
prepared on an accrual basis and under the historical
cost convention. The accounting policies adopted in
the preparation of consolidated financial statements
are consistent with those of previous year.
d. Use of Estimates
The presentation of consolidated financial statements
in conformity with the generally accepted accounting
principles require estimates and assumptions to be
made that affect the reported amount of assets and
liabilities (including contingent liabilities if any) as on
the date of the consolidated financial statements and
70
ANNUAL
REPORT
2016-2017
the reported amount of revenue and expense during
the reporting period. Difference between the actual
result and estimates are recognized in the period in
which the results are known /materialized.
e. Tangible Assets( Property, Plant and
Equipment)
In case of the company and its subsidiaries:
Land acquired on long term lease arrangements that
are in the nature of financial leases are classified
under Fixed Assets and amortised over the lease
period. Buildings constructed on such land are
capitalised and depreciated as per company’s
accounting policy. Such land and building are
reclassified and treated as Current Assets (at Net
Book Value)when the decision to dispose under
long-term finance leases is conclusively taken by
the management.
Property, Plant and Equipments are stated at cost
less accumulated depreciation and impairment in
value if any. Cost includes purchase price (inclusive
of non–refundable purchase taxes, after deducting
trade discounts and rebates), other costs directly
attributable to bringing the asset to the location and
condition necessary for it to be capable of operating
in the manner intended by management.
When parts of an item of property, plant and equipment
have different useful lives, they are accounted for as
separate items (Major components).
The cost of assets not ready for use at the balance
sheet date are disclosed under Capital Work in
Progress.
In case of the associate company MIV Logistics
Private Limited:
Fixed assets are stated at cost of acquisition till the
date of installation of the assets and improvement
thereon.Expenses incurred directly to the cost of
assets were allocated to specific fixed assets
f. Intangible Assets
In case of the company:
Intangible assets are recorded at the cost of
acquisition of such assets and are carried at cost less
accumulated amortisation and impairment, if any.

g. Project Development Expense
In case of the subsidiary INKES Trade Centre
Limited and INKEL-KINFRA Infrastructure
Projects Limited
Expense incurred in connection with Project
Development are treated as project development
expense pending capitalisation/ adjustment. These
expense are shown under capital work in progress.
h. Depreciation/Amortization
In case of the company:
Depreciation on property, plant and equipment is
provided on Written Down Value Method on the
basis of the useful lives in the manner prescribed as
per Schedule II of The Companies Act, 2013 based
on a review by the management at the year end.
Leasehold land is amortised over the duration of the
lease.Cost of software treated as Intangible Assets
is amortised over a period of six years.
In case of the subsidiary INKEL-KSIDC Project
Limited:
Depreciation on all assets is charged from the date
when the fixed assets are ready for their intended
use and upto the month of disposal
Depreciation is provided on written down value basis
as per the useful lives prescribed in Schedule II of
the Companies Act 2013 except in case of Building,
in whose case the useful lives have been assessed
lower than the life prescribed in schedule II to the
Companies Act 2013.The difference in useful life
in the case of buildings is due to the fact that the
appurtenant land is acquired on Lease basis for 30
Years and hence remaining useful life for buildings
is also reckoned on that basis.
In case of the subsidiary INKES Trade Centre
Limited:
Depreciation on the Fixed Assets will be provided
on written down value method at the rates specified
under Schedule II of the Companies Act, 2013 as
amended from time to time.
In case of the subsidiary INKEL-KINFRA
Infrastructure Projects Limited:
Depreciation on fixed assets as and when added
will be provided in accordance with the Provisions
of Schedule II of the Companies Act,2013.
71
ANNUAL
REPORT
2016-2017
In case of the subsidiary INKEL-EKK Roads
Private Limited:
Depreciation on Property, Plant and Equipment will
be provided on Written DownValue Method on the
basis of the useful life in the manner prescribed as
per Schedule II of The Companies Act, 2013.
The Capital-work-in-progress relating to the Project
under implementation, will be capitalised on the
date of commissioning and depreciated over the
operation and maintenance period till the date of
hand over to the Project Awarder.
In case of the associate company MIV Logistics
Private Limited:
Depreciation on all assets is charged from the date
when the fixed assets are ready for their intended
use and up to the month of disposal.
Depreciation is provided on written down value
basis as per the useful lives prescribed in Schedule
II of the Companies Act 2013 except in the case of
Building , in whose case the useful lives has been
assessed lower than the life prescribed in schedule
II to the Companies Act, 2013. The difference in
useful life is due to the fact that land is acquired
on Lease basis for 30 years from Cochin Port Trust
and hence remaining useful life only considered for
Building
i. Government Grants/Subsidies
In case of the company and subsidiary INKEL-
EKK Roads Private Limited:
Government Grants and Subsidies are recognized
when there is reasonable assurance that the
Company will comply with the conditions attached
to them and the Grants/Subsidies will be received.
Government Grants whose primary condition is
that the Company should purchase, construct or
otherwise acquire capital assets are presented
by deducting them from the carrying value of the
assets.
Government Grants in the nature of Promoter’s
Contribution like Investment Subsidy, where no
repayment is ordinarily expected in respect thereof,
are treated as Capital Reserve.
Other Government grants and subsidies are
recognized as Income over the periods necessary
to match them with the costs for which they are
intended to compensate on a systematic basis.

In case of jointly controlled entity SEGURO-
INKEL Consortium LLP:
Grants and subsidies from the government are
recognised when there is reasonable assurance that
(i) the LLP will comply with the conditions attached
to them, and (ii) the grant/subsidy is received/ will
be received.
j. Investments
Non-Current Investments are stated at cost. Decline
in value, if any, which is not considered temporary in
nature, is provided for.
k. Revenue Recognition
In case of the company and its subsidiaries:
Revenue arising on disposal of current assets under
long-term lease arrangements that are in nature of
financial leases is recognised in the year in which
the lease agreements are entered into.
Proportionate income during the period of license
agreement and income from other arrangements
which are in the nature of operating leases, are
recognized as income in the respective years.
Income from services rendered are recognized
based on the stage of completion of the respective
contracts/arrangements having regard to the
specific milestones wherever specified therein.
Other incomes are recognized on accrual basis
except when there are significant uncertainties.
In case of the subsidiary INKEL-EKK Roads
Private Limited:
Revenue is recognised to the extent that it is
probable that the economic benefits will flow to the
Company and revenue can be reliably measured.
Revenue recognised is net of taxes.
Revenue from Construction Contracts:
Revenue from construction contracts is recognised
on the percentage of completion method as
mentioned in Accounting Standard [AS 7(Revised)]
“Construction Contracts” notified under section 133
of the Companies Act, 2013, read with Rule 2014.
The percentage of completion is determined by
the proportion that contract costs incurred for work
performed up to the balance sheet date bear to the
estimated total contract costs over the concession
72
ANNUAL
REPORT
2016-2017
period. However, profit is not recognised unless
there is reasonable progress on the contract. If total
cost of a contract, based on technical and other
estimates, is estimated to exceed the total contract
revenue, the foreseeable loss is provided for. The
effect of any adjustment arising from revision to
estimates is included in the income statement of
the year in which revisions are made. Revenue
recognised is net of taxes.
In case of the associate company MIV Logistics
Private Limited:
Revenue from service is recognized as and
when services are rendered and related costs
are incurred in accordance with the terms of
the contractual agreement. During the year the
company commenced direct operations of the
container freight station business by discontinuing
the revenue sharing arrangements and the revenue
under various operations are recognized as below:.
Container Freight Station Income
Income from container handling are recognized
when related services are rendered
Warehousing Income
Income from Warehousing are recognized when
related services are performed
Income from ground Rent
Income from ground rent is recognized for a period
the container is lying in the container freight station
and / or bonded ware house. However in the case of
long standing containers the income is accounted
on accrual basis up to 60 days.
Income from transportation services
Income from transportation services are recognized
as and when the services are performed as per the
contractual terms
Income from Empty Yard
Income from Empty container handling on revenue
sharing basis in accordance with the terms of the
contractual agreement
Reimbursement of Expense
Reimbursement of cost is netted off with the relevant
expense, since the same are incurred on behalf of
customers.

Other Income
Interest income from Bank deposits is accounted on
accrual basis.
In case of jointly controlled entity SEGURO-
INKEL Consortium LLP:
Revenue is recognized based on percentage of
completion method in accordance with Accounting
Standard- 7 “Construction Contracts”. Contract
revenue is recognized only to the extent of costs
incurred that are expected to be recovered and
where the outcome of the contract cannot be
estimated reliably, no profit is recognized.
l. Employee Benefits
In case of the subsidiary companies INKES Trade
Centre Limited, INKEL-KINFRA Infrastructure
Limited and jointly controlled entity SEGURO-
INKEL Consortium LLP:
Employee benefits are not provided as the companies
do not have direct employees.
In case of the company and its subsidiaries and
associate company:
Short Term Employee Benefits
All employee benefits payable wholly within twelve
months of rendering the service are classified as
short-term employee benefits and recognized in the
period in which the employee renders the related
service.
Defined Contribution Plans
The companies have defined contribution plans
for employees comprising of Provident Fund,
Employee’s State Insurance and National Pension
Scheme. The contributions paid/payable to
these plans during the year are charged to the
Consolidated Statement of Profit and Loss for the
year.
Defined Benefit Plans: Gratuity (Funded)
In case of the company:
The company makes contributions to the
Employee’s Group Gratuity-cum-Life Assurance
Scheme of the Life Insurance Corporation of India.
The net present value of the obligation for gratuity
benefits as determined on independent actuarial
valuation conducted annually using the projected
unit credit method, as adjusted for unrecognised
73
ANNUAL
REPORT
2016-2017
past services cost, if any, and as reduced by the fair
value of plan assets, is recognised in the accounts.
Actuarial gains and losses are recognised in full in
the Consolidated Statement of Profit and Loss for
the period in which they occur.
In case of the subsidiaries and associate company:
The company makes contributions to the Employee’s
Group Gratuity-cum-Life Assurance Scheme of the
Life Insurance Corporation of India.
Other Long term employee benefits: Compensated
absences(Unfunded)
In case of the company:
The company has a scheme for compensated
absences for employees, the liability of which is
determined on the basis of an independent actuarial
valuation carried out at the end of the year. Actuarial
gains and losses are recognised in full in the
Consolidated Statement of Profit and Loss for the
period in which they occur.
In case of the associate company MIV Logistics
Private Limited:
Compensated absences
The Employees can carry forward a portion of the
unutilized accrued compensated absences and
utilize it in future service periods or receive cash
compensation on termination of employment .The
obligation is measured on the basis of independent
actuarial valuation using the projected unit credit
method as at the balance sheet date.
Termination Benefits
In case of the company and subsidiary INKEL-
EKK Roads Private Limited:
Termination benefits are recognized in the Statement
of Profit and Loss for the period in which the same
accrue.
m. Income Tax
Income tax is accounted in accordance with
Accounting Standard on Accounting for Taxes
on Income (AS-22), which includes current taxes
and deferred taxes. Deferred Tax assets/ liabilities
representing timing differences between accounting
income and taxable income are recognised to
the extent considered capable of being reversed
in subsequent years. Deferred tax assets are
recognised only to the extent there is reasonable

certainty that sufficient future taxable income will
be available, except that deferred tax assets arising
due to unabsorbed depreciation and losses are
recognised if there is a virtual certainty that sufficient
future taxable income will be available to realise the
same. MAT credit is recognised as an asset only
when and to the extent there is convincing evidence
that the company will pay normal income tax during
the specified period. In the year in which the Minimum
Alternative Tax (MAT) credit becomes eligible to
be recognised as an asset in accordance with the
recommendations contained in the Guidance Note
issued by the Institute of Chartered Accountants of
India, the said asset is created by way of a credit
to the Statement of Profit and Loss and shown as
MAT Credit Entitlement. The Company reviews the
same at each balance sheet date and writes down
the carrying amount of MAT Credit Entitlement to
the extent there is no longer convincing evidence to
the effect that the Company will pay normal Income
Tax during the specified period.
n. Foreign Currency Transactions
Transactions in foreign currencies are recorded
at the exchange rate prevailing on the date of
the transaction. Monetary assets and liabilities
outstanding at the Balance Sheet date are translated
at the applicable exchange rates prevailing at the
year-end. The exchange gain/loss arising during the
year is adjusted to the Consolidated Statement of
Profit and Loss.
o. Borrowing Costs
Borrowing costs that are directly attributable to the
acquisition, construction or production of an asset
that takes a substantial period of time to get ready
for its intended use are capitalised. Other borrowing
costs are recognized as expenditure for the period
in which they are incurred.
p. Earnings per share
Basic/ diluted earnings per share is calculated by
dividing the net profit or loss for the year attributable
to equity shareholders (after deducting attributable
taxes) by the weighted average number of equity
shares/ dilutive potential equity shares outstanding
as at the end of the year as the case may be.
74
ANNUAL
REPORT
2016-2017
q. Preliminary Expenses
In case of the subsidiary INKES Trade Centre
Limited:
Preliminary expenses and pre-incorporation
expenses are fully written off.
In case of the company and subsidiary INKEL-
EKK Roads Private Limited:
As per Accounting Standard - 26 ‘Intangible Assets’
issued by the Institute of Chartered Accountants of
India, the preliminary expenses have been entirely
written off in the first year.
r. Impairment of Assets
The company assesses at each Balance Sheet date
whether there is any indication that an asset may be
impaired. An asset is identified as impaired, when the
carrying value of the asset exceeds its recoverable
value. Based on such assessment, impairment
loss if any is recognized in the Consolidated
Statement of Profit and Loss of the period in which
the asset is identified as impaired. The impairment
loss recognised in the prior accounting periods is
reversed if there has been a change in the estimate
of recoverable amount.
s. Provisions, Contingent Liabilities
and Contingent Assets
Provisions are recognised when the company has
a present obligation as a result of a past event,
for which it is probable that a cash outflow will be
required and a reliable estimate can be made of
the amount of the obligation. Provisions are not
discounted to its present value and are determined
based on management estimate required to settle
the obligation at the Balance Sheet date. These are
reviewed at each Balance Sheet date and adjusted
to reflect the correct management estimates.
Contingent Liabilities are disclosed when the
company has a possible obligation or a present
obligation and it is probable that a cash flow will not
be required to settle the obligation.
Contingent assets are neither recognized nor
disclosed in the accounts.
 ANNUAL
REPORT
2016-2017

NOTES FORMING PART OF CONSOLIDATED BALANCE SHEET

AS AT 31.03.2017

NOTE - 2.1 SHARE CAPITAL (In Rupees)

As at 31-03-2017 As at 31-03-2016
Particulars Number of Number of
Amount Amount
Shares Shares

SHARE CAPITAL

Authorised Equity Share Capital

Equity Shares of Rs 10/-(Rs. 10/-) each 20,00,00,000 2,00,00,00,000 20,00,00,000 2,00,00,00,000
20,00,00,000 2,00,00,00,000 20,00,00,000 2,00,00,00,000
Issued, Subscribed and Paid up
Equity Shares of Rs 10/-(Rs. 10/-) each 16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000

16,30,27,000 1,63,02,70,000 16,30,27,000

As at 31-03-2017 1,63,02,70,000
As at 31-03-2016
Particulars Number of Number of
Amount Amount
Shares Shares
2.1.1
SHARETerms/ Rights
CAPITAL attached to Equity Shares
Particulars Number of Amount as at Number of Amount as at
Shares 31.03.2017 Shares 31.03.2016
The companyEquity
Authorised has only
Shareone class of shares referred to as equity shares with a face value of Rs. 10/- (Rs.10/-)
Capital
Equity Shares
each.
EquityEach
As at the
holder
Shares of
of Rsof
beginning
equity
10/-(Rs. share is entitled to one vote
10/-) each
the financial year
per share.1,63,02,70,000
20,00,00,000
16,30,27,000 The company declares
2,00,00,00,000 and pays
20,00,00,000
16,30,27,000 dividends
2,00,00,00,000
1,63,02,70,000
inShares
Indianissued
Rupees. The dividend proposed/
during the financial year declared by the Board
20,00,00,000
- of Directors- is
2,00,00,00,000 subject to approval/regularisa-
20,00,00,000
- 2,00,00,00,000
-
tion of the
Issued,
As at the shareholders’
Subscribed
end in year
and Paid
of the financial theupensuing Annual General Meeting. In the event of liquidation of the company,
16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000
the holders
Equity of equity
Shares shares10/-)
of Rs 10/-(Rs. will be
eachentitled to receive remaining assets
16,30,27,000 of the company
1,63,02,70,000 after distribution
16,30,27,000 of all
1,63,02,70,000
preferential amounts, in proportion to the
Particulars of Shareholders holding more than 5% number of equity shares held by the shareholders.
16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000
share in the Company
Reconciliation of shares at the beginning and at the
Govt. of Kerala - 24.84 % (Previous year 24.84 %)
end of the 40,50,00,000
4,05,00,000
financial year
4,05,00,000 40,50,00,000
(In Rupees)
Bismi Holdings Ltd - 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000 11,00,00,000
Shri. Yusuffali M A - 15.13 % (Previous year 15.13 %) 2,46,66,000 24,66,60,000
Number of Amount as at 2,46,66,000
Number of 24,66,60,000
Amount as at
Particulars
Shri. Varghese Kurian - 6.75 % (Previous year 6.75 %) 1,10,00,000
Shares 31.03.2017 Shares
11,00,00,000 1,10,00,000 11,00,00,000
31.03.2016
Dr.Mohamed
Equity Shares Ali - 6.44 % (Previous year 6.44 %) 1,05,00,000 10,50,00,000 1,05,00,000 10,50,00,000
As at the beginning of the financial year 16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000
Shares issued during the financial year - - - -
As at the end of the financial year 16,30,27,000 1,63,02,70,000 16,30,27,000 1,63,02,70,000
Particulars As at 31-03-2017 As at 31-03-2016
Particulars
Surplus of Shareholders holding more than 5%
share
OpeninginBalance
the Company 6,10,26,741 9,72,98,524
Govt. of Kerala after
Net Profit/(Loss) - 24.84tax %
as (Previous year
per Statement of 24.84 %) Loss
Profit and 4,05,00,000 40,50,00,000 4,05,00,000
(1,18,60,399) 4,22,14,402 40,50,00,000
Bismi Holdings
Closing Balance Ltd - 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000
4,91,66,342 13,95,12,926 11,00,00,000
Shri. Yusuffali M A - 15.13 % (Previous year 15.13 %) 2,46,66,000 24,66,60,000 2,46,66,000 24,66,60,000
Amount
Shri. AvailableKurian
Varghese for Appropriation
- 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000 11,00,00,000
Less: Appropriations
Dr.Mohamed Ali - 6.44 % (Previous year 6.44 %) 1,05,00,000 10,50,00,000 1,05,00,000 10,50,00,000
Proposed Dividend ( Refer Note 2.2.1) - 6,52,10,800
Tax on Proposed Dividend - 1,32,75,385
Total Appropriations - 7,84,86,185
Closing Balance 4,91,66,342 6,10,26,741
Less: Minority Interest adjusted (as perParticulars
Contra) As at37,25,808
31-03-2017 As at36,45,465
31-03-2016
Surplus 4,54,40,534 5,73,81,276
Opening Balance 6,10,26,741 9,72,98,524
Net Profit/(Loss) after tax as per Statement of Profit and Loss (1,18,60,399) 4,22,14,402
Closing Balance 4,91,66,342 13,95,12,926
Particulars As at 31-03-2017 As at 31-03-2016

Share
AmountCapital
Available for Appropriation 75 15,60,39,554 7,76,39,554
Less:Share
Add: Appropriations
of accumulated reserves (2,62,62,180) (1,55,23,207)
 share in
Equity the Company
Shares
Govt.
Equity of Kerala
Shares - 24.84
As at the beginning % (Previous
of the year 24.84 %)
financial year 4,05,00,000
16,30,27,000 40,50,00,000 16,30,27,000
1,63,02,70,000 4,05,00,000 40,50,0
1,63,02,7
As at
Bismi the beginning
SharesHoldings of the
Ltd - 6.75
issued during financial
% (Previous
the financial year
yearyear 6.75 %) 16,30,27,000
1,10,00,000
- 1,63,02,70,000
11,00,00,000
- 16,30,27,000
1,10,00,000
- 1,63,02,7
11,00,0
Shares
As at theissued
end during
of the the financial
financial year
Shri. Yusuffali M A - 15.13 % (Previous year year 15.13 %) -
2,46,66,000
16,30,27,000 - -
24,66,60,000 16,30,27,000
1,63,02,70,000 2,46,66,000 24,66,6
1,63,02,7
As at the end of the financial year 16,30,27,000 1,63,02,70,000 16,30,27,000
ANNUAL 1,63,02,7
Shri. Varghese Kurian - 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000 11,00,0
Particulars ofAliShareholders holding more REPORT
Dr.Mohamed - 6.44 % (Previous year 6.44than
%) 5% 1,05,00,000 10,50,00,000 1,05,00,000
2016-2017 10,50,0
Particulars of Shareholders
share in the Company holding more than 5%
share in the Company
Govt. of Kerala - 24.84 % (Previous year 24.84 %) 4,05,00,000 40,50,00,000 4,05,00,000 40,50,0
NOTE
Govt. -of2.2
Bismi HoldingsRESERVES
Kerala
Ltd - 6.75 %&(Previous
SURPLUS
- 24.84 % (Previous year 24.84 %)
year 6.75 %)
4,05,00,000
1,10,00,000
40,50,00,000 4,05,00,000
11,00,00,000 (In Rupees)
1,10,00,000
40,50,0
11,00,0
Bismi Holdings Ltd - 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000 11,00,0
Shri. Yusuffali M A - 15.13 % (Previous year 15.13 %)
Particulars 2,46,66,000 24,66,60,000 2,46,66,000
As at 31-03-2017 As at 31-03-2016 24,66,6
Shri. Yusuffali M A - 15.13 % (Previous year 15.13 %) 2,46,66,000 24,66,60,000 2,46,66,000 24,66,6
Shri. Varghese Kurian - 6.75 % (Previous year 6.75 %)
Surplus 1,10,00,000 11,00,00,000 1,10,00,000 11,00,0
Shri. Varghese Kurian - 6.75 % (Previous year 6.75 %) 1,10,00,000 11,00,00,000 1,10,00,000 11,00,0
Dr.Mohamed
Opening BalanceAli - 6.44 % (Previous year 6.44 %) 1,05,00,000 10,50,00,000
6,10,26,741 1,05,00,000
9,72,98,524 10,50,0
Dr.Mohamed Aliafter
Net Profit/(Loss) - 6.44
tax %
as (Previous year
per Statement of 6.44
Profit%)
and Loss 1,05,00,000 10,50,00,000 1,05,00,000
(1,18,60,399) 4,22,14,402 10,50,0
Closing Balance 4,91,66,342 13,95,12,926

Amount Available for Appropriation Particulars As at 31-03-2017 As at 31-03-2016

Less:
SurplusAppropriations Particulars As at 31-03-2017 As at 31-03-2016
Proposed
Surplus Dividend ( Refer Note 2.2.1)
Opening Balance -
6,10,26,741 6,52,10,800
9,72,98,524
Tax on
Opening Proposed
Balance Dividend
Net Profit/(Loss) after tax as per Statement of Profit and Loss -
6,10,26,741 1,32,75,385
9,72,98,524
(1,18,60,399) 4,22,14,402
Total
Net Appropriations
Profit/(Loss)
Closing Balance after tax as per Statement of Profit and Loss -
(1,18,60,399) 7,84,86,185
4,22,14,402
4,91,66,342 13,95,12,926
Closing Balance
Closing Balance 4,91,66,342 13,95,12,926
6,10,26,741
Less: Minority Interest adjusted
Amount Available for Appropriation (as per Contra) 37,25,808 36,45,465
Amount Available
Less: Appropriations for Appropriation 4,54,40,534 5,73,81,276
Less: Appropriations
Proposed Dividend ( Refer Note 2.2.1) - 6,52,10,800
2.2.1 The
Proposed Board
Dividend of
Tax on Proposed Dividend(Directors
Refer Note of the
2.2.1)Company has proposed final dividend of Rs. 0.30/-
-
- (Rs. 0.40/-) per
6,52,10,800
1,32,75,385
share,which
Tax on is subject
Proposed to approval by theParticulars
Dividend share holders at the ensuing Annual General
As at Meeting.
-
31-03-2017 In1,32,75,385
As accordance
at 31-03-2016
Total Appropriations - 7,84,86,185
with the Appropriations
Total revised Accounting Standard - 4 ‘Contingencies and Events occuring after the Balance - Sheet Date’
7,84,86,185
Closing Balance 4,91,66,342 6,10,26,741
(effective
Share from
Capital
Closing
01.04.2016) proposed dividend for the year and Corporate Dividend
Balance
Tax thereon has
15,60,39,554
4,91,66,342
not been
7,76,39,554
6,10,26,741
Less: Minority
recognised as a Interest adjusted
distribution of (as in
profit perthe
Contra)
current year’s accounts. 37,25,808 36,45,465
Add: Share
Less: Minorityof accumulated reserves
Interest adjusted (as per Contra) (2,62,62,180)
37,25,808 (1,55,23,207)
36,45,465
4,54,40,534 5,73,81,276
Add: Profit/(Loss) for the year transferred from Statement of Profit and Loss (95,86,177) (1,07,38,973)
NOTE - 2.3 MINORITY INTEREST 4,54,40,534 5,73,81,276
(In Rupees)
Add: Adjusted against majority interest (as per Contra) 37,25,808 36,45,465
Closing Balance 12,39,17,005 5,50,22,839
Particulars As at 31-03-2017 As at 31-03-2016
Particulars As at 31-03-2017 As at 31-03-2016
Share Capital 15,60,39,554 7,76,39,554
Share Capital
Add: Share of accumulated reserves Particulars 15,60,39,554 7,76,39,554
As(2,62,62,180)
at 31-03-2017 As(1,55,23,207)
at 31-03-2016
Add:
Add: Share of accumulated
Profit/(Loss) for the reserves
year transferred from Statement of Profit and Loss (2,62,62,180)
(95,86,177) (1,55,23,207)
(1,07,38,973)
From Banks
Add:
Add: Profit/(Loss)
Adjusted for the
against year transferred
majority interest (asfrom
per Statement
Contra) of Profit and Loss (95,86,177)
37,25,808 (1,07,38,973)
36,45,465
Term loan from State Bank of Travancore(Lead Bank) (See Note 2.4.1) 21,69,85,942 -
Add: Adjusted
Closing Balance against majority interest (as per Contra) 37,25,808
12,39,17,005 36,45,465
5,50,22,839
From
ClosingOther Parties
Balance 12,39,17,005 5,50,22,839
(a) Loans from Other parties
NOTE - Unsecured
2.4 LONG TERM
(See BORROWINGS
Note 2.4.2) 3,00,00,000 (In Rupees)
3,00,00,000
Particulars As at 31-03-2017 As at 31-03-2016
(b) Deposits Particulars As at 31-03-2017 As at 31-03-2016
From Banks
Unsecured
From Banks (See Note 2.4.3) 8,21,63,000 -
Term loan from State Bank of Travancore(Lead Bank) (See Note 2.4.1) 21,69,85,942 -
Term loan from State Bank of Travancore(Lead Bank) (See Note 2.4.1) 32,91,48,942
21,69,85,942 3,00,00,000
-
From Other Parties
From Other Parties
(a) Loans from Other parties
(a) Loans from Other parties
Unsecured (See Note 2.4.2) 3,00,00,000 3,00,00,000
Unsecured (See Note 2.4.2) Cumulative basis 3,00,00,000 3,00,00,000
Non-Cumulative basis
(b) Deposits
Terms of repayment
(b) Deposits
Unsecured (See Note 2.4.3) Rate Amount 8,21,63,000
Rate Amount -
Unsecured (See Note 2.4.3) 8,21,63,000
32,91,48,942 -
3,00,00,000
Within 1 year 10.92% 71,21,000 32,91,48,942
10.50% 3,00,00,000
32,29,000

Within 2 years 11.46% 57,20,000 11.00% 26,00,000

Within 3 years 12.01%

Cumulative3,51,89,000
basis 11.50% 3,86,54,000
Non-Cumulative basis
Terms of repayment Cumulative basis Non-Cumulative basis
Total Terms of repayment Rate 4,80,30,000
Amount Rate 4,44,83,000
Amount
76
Rate Amount Rate Amount
Within 1 year 10.92% 71,21,000 10.50% 32,29,000
 Particulars
Particulars As
As at
at 31-03-2017
31-03-2017 As
As at
at 31-03-2016
31-03-2016
Particulars As at 31-03-2017 As at 31-03-2016
Share Capital
Share Capital 15,60,39,554
15,60,39,554 7,76,39,554
7,76,39,554
Add: Share
Share
Add: of
of accumulated
Capital
Share accumulated reserves
reserves (2,62,62,180)
15,60,39,554 ANNUAL
(2,62,62,180) (1,55,23,207)
7,76,39,554
(1,55,23,207)
REPORT
Add: Profit/(Loss)
Add: Share for
for the
the year
of accumulated
Profit/(Loss) transferred
transferred from
reserves
year from Statement
Statement of
of Profit
Profit and
and Loss
Loss (95,86,177)
(2,62,62,180) (1,07,38,973)
(1,55,23,207)
(95,86,177)2016-2017
(1,07,38,973)
Add: Adjusted against
Profit/(Loss) for majority
the year interest
transferred(as per
from Contra)
Statement
Add: Adjusted against majority interest (as per Contra) of Profit and Loss 37,25,808
(95,86,177)
37,25,808 36,45,465
(1,07,38,973)
36,45,465
Closing
Add:
Closing Balance
Adjusted
Balanceagainst majority interest (as per Contra) 12,39,17,005
37,25,808
12,39,17,005 5,50,22,839
36,45,465
5,50,22,839
2.4.1 In case of the subsidiary company INKEL-EKK Roads Private Limited, State Bank of Travancore
Closing Balance 12,39,17,005 5,50,22,839
and Corporation Bank have sanctioned a Term Loan of Rs.72,00,00,000/-(Including Non Fund limit of
Rs.10,00,00,000/-) and Rs.50,00,00,000/-respectively to the company, by creating an equitable mortgage
on the land and on all movable assetsParticulars excluding current assets of the Borrower,
Particulars As
As at both present
at 31-03-2017
31-03-2017 As atand
As at future.
31-03-2016
31-03-2016
Outstanding
From Banks Balance in Term loan as on 31.03.2017
Particulars was Rs.21,69,85,942/-. Equity shares for Rs. 42,00,000/-
As at 31-03-2017 As at 31-03-2016
From
held BanksLtd and Rs. 39,60,000/- held
by Inkel by EKK Infrastructures Pvt Ltd respectively have been pledged with
From Banks
Term loan from
from State
State Bank
State Bank
Term of Travancore
loan (Leadof
Bank Travancore(Lead
ofBank) Bank)
and Corporation
Travancore(Lead (See
(See Note
Bank) Bank 2.4.1)
as per
Note the terms21,69,85,942
2.4.1) --
and conditions of the Facility
21,69,85,942
Agreement
Term
From Other
From dated
loan
Other from25.08.2016.
Parties
PartiesState Bank of Travancore(Lead Bank) (See Note 2.4.1) 21,69,85,942 -

From Other
(a) Loans Parties
from Other parties
2.4.2
(a) Loans
In casefrom Other
of the parties the above interest free loan was sanctioned by the State Level Export Promotion
company,
(a) Loans from
Committee(SLEPC)
Unsecured Other parties
under
(See
Unsecured (See the2.4.2)
Note
Note Assistance to States for developing Export Infrastructure
2.4.2) 3,00,00,000 and3,00,00,000
3,00,00,000 other Allied
3,00,00,000
Activities(ASIDE)
(b) Unsecured
Deposits
(b) Deposits Scheme
(See implemented
Note 2.4.2) by Kerala Industrial Infrastructure Development Corporation(KINFRA)
3,00,00,000 3,00,00,000
acting as the Government of Kerala appointed Nodal agency. The loan is repayable in three annual instalments
(b)Unsecured
Deposits
Unsecured (See Note
Note 2.4.3)
(See starting2.4.3) 8,21,63,000
8,21,63,000 -
of Rs. 1 crore each from the fourth year of disbursement, to be paid before 31st March 2019, -31st
Unsecured (See Note 2.4.3)
March 2020 & 31st March 2021 respectively. 8,21,63,000
32,91,48,942
32,91,48,942 -
3,00,00,000
3,00,00,000
32,91,48,942 3,00,00,000
2.4.3 Deposits accepted by the company from various parties and interest thereon are repayable over the
agreed terms. The details are as follows: (In Rupees)
Cumulative
Cumulative basis
basis Non-Cumulative
Non-Cumulative basis
basis
Terms
Terms of
of repayment
repayment Cumulative basis Non-Cumulative basis
Terms of repayment Rate
Rate Amount
Amount Rate
Rate Amount
Amount
Rate Amount Rate Amount
Within 1
Within 1 year
year 10.92%
10.92% 71,21,000
71,21,000 10.50%
10.50% 32,29,000
32,29,000
Within 1 year 10.92% 71,21,000 10.50% 32,29,000
Within 2
Within 2 years
years 11.46%
11.46% 57,20,000
57,20,000 11.00%
11.00% 26,00,000
26,00,000
Within 2 years 11.46% 57,20,000 11.00% 26,00,000
Within 3
Within 3 years
years 12.01%
12.01% 3,51,89,000
3,51,89,000 11.50%
11.50% 3,86,54,000
3,86,54,000
Within 3 years 12.01% 3,51,89,000 11.50% 3,86,54,000
Total
Total 4,80,30,000
4,80,30,000 4,44,83,000
4,44,83,000
Total 4,80,30,000 4,44,83,000
Interest is payable on a quarterly / maturity basis in accordance with the terms agreed with the depositors.

NOTE - 2.5 DEFERRED TAXParticulars LIABILITIES (NET)
Particulars As
As at
at 31-03-2017 As(In
31-03-2017 As at Rupees)
at 31-03-2016
31-03-2016
A. Deferred
A. Deferred Tax
Tax Liability
Liability Particulars As at 31-03-2017 As at 31-03-2016
Opening
A. Balance
Opening BalanceLiability
Deferred Tax
Opening Balance 6,28,66,589
6,28,66,589 5,61,64,244
5,61,64,244
6,28,66,589 5,61,64,244
B. Deferred
B. Deferred Tax
Tax Assets
Assets
On
B. Provisions/other
Deferred Tax disallowances
Assets
On Provisions/other disallowances 1,20,87,694
1,20,87,694 79,41,980
79,41,980
On
NetProvisions/other
deferred Tax disallowances
Liability
Net deferred Tax Liability 1,20,87,694
5,07,78,895
5,07,78,895 79,41,980
4,82,22,264
4,82,22,264
Net deferred Tax Liability 5,07,78,895 4,82,22,264

NOTE - 2.6 OTHER LONG TERM LIABILITIES (In Rupees)

Particulars
Particulars As
As at
at 31-03-2017
31-03-2017 As
As at
at 31-03-2016
31-03-2016
Security Deposits
Security Deposits Particulars 48,17,409
As at 31-03-2017
48,17,409 69,53,240
As at 31-03-2016
69,53,240
Interest accrued
Security
Interest Depositsbut
accrued but not
not due
due on
on borrowings
borrowings 23,32,092
48,17,409
23,32,092 --
69,53,240
Employee
Interest Gratuity
accrued Fund
but
Employee Gratuity Fundnot due on borrowings 3,998
23,32,092
3,998 --
Lease Premium
Employee
Lease received
Gratuity
Premium Fund in
received in advance
advance (INKEL
(INKEL Green)
Green) 1,14,71,739
3,998
1,14,71,739 1,50,74,696
-
1,50,74,696
Recovery
Lease against
Premium Future
received Expenditure
in advance
Recovery against Future Expenditure (INKEL Green) 33,79,044
1,14,71,739
33,79,044 --
1,50,74,696
Retention against
Recovery
Retention &
& Earnest
Earnest Money
Future
Money Deposit
Expenditure
Deposit 1,72,34,121
33,79,044
1,72,34,121 13,06,295
-
13,06,295
Retention & Earnest Money Deposit 3,92,38,403
1,72,34,121
3,92,38,403 2,33,34,231
13,06,295
2,33,34,231
3,92,38,403 2,33,34,231

77
Particulars
Particulars As
As at
at 31-03-2017
31-03-2017 As
As at
at 31-03-2016
31-03-2016
 Security Deposits 6,28,66,589
48,17,409 5,61,64,244
69,53,240
Employee Gratuity
Interest accrued butFund
not due on borrowings 3,998
23,32,092 -
Particulars As at 31-03-2017 As at 31-03-2016-
B. Deferred
Lease
Employee Tax
Premium Assets
received
Gratuity Fund in advance (INKEL Green) 1,14,71,739
3,998 1,50,74,696-
Security Deposits 48,17,409 69,53,240
On Provisions/other
Recovery
Lease disallowances
against Future
Premium Expenditure 1,20,87,694
33,79,044 79,41,980
-
Interest accrued received in advance
but not due (INKEL Green)
on borrowings 1,14,71,739
23,32,092 1,50,74,696
-
Retention
Net &
deferred Earnest
Tax
Recovery against Money
Liability Deposit 1,72,34,121
5,07,78,895 13,06,295
4,82,22,264
Employee GratuityFuture
Fund Expenditure 33,79,044
3,998 ANNUAL --
Retention & Earnest Money Deposit (INKEL Green) 3,92,38,403
1,72,34,121 2,33,34,231
13,06,295
Lease Premium received in advance 1,14,71,739 REPORT
1,50,74,696
Recovery against Future Expenditure 3,92,38,403
33,79,044 2016-2017
2,33,34,231
-
Retention & Earnest Money Deposit 1,72,34,121 13,06,295
Particulars As at 31-03-2017 As at 31-03-2016
NOTE - 2.7
Security LONG TERM PROVISIONS
Deposits Particulars As at 3,92,38,403
31-03-2017
48,17,409 (In Rupees)
2,33,34,231
As at 31-03-2016
69,53,240
Provision for Employee
Interest accrued Benefits
but not due Particulars
on borrowings As at 31-03-2017
23,32,092 As at 31-03-2016-
- Provision for Leave
Provision Gratuity
Employee Fund Benefits (See Note 2.31)
for Employee Encashment 38,07,383
3,998 24,53,432
-
Lease Premium
- Provision received
for Leave in advance
Encashment (INKEL
(See NoteGreen)
2.31) 38,07,383
1,14,71,739
38,07,383 24,53,432
1,50,74,696
24,53,432
Particulars As at 31-03-2017 As at 31-03-2016
Recovery against Future Expenditure
Provision for Employee Benefits 33,79,044
38,07,383 -
24,53,432
Retention & Earnest Money Deposit 1,72,34,121 13,06,295
- Provision for Leave Encashment (See Note 2.31) 38,07,383 24,53,432
NOTE - 2.8 SHORT TERM BORROWINGS 3,92,38,403 (In Rupees)
2,33,34,231
38,07,383 24,53,432
Particulars As at 31-03-2017 As at 31-03-2016
From Banks Particulars As at 31-03-2017 As at 31-03-2016
Federal
From Banks Bank Limited (See Note 2.8.1) 4,59,77,823 9,38,83,170
Particulars As at 31-03-2017 As at 31-03-2016
Federal Bank Limited (See Note
Deposits 2.8.1)
Particulars As 4,59,77,823
at 31-03-2017 As at 9,38,83,170
31-03-2016
Provision for Employee Benefits
Unsecured
From Banks (See Note 2.4.3) 1,03,50,000 -
-Deposits
Provision for Leave Encashment (See Note 2.31) 38,07,383 24,53,432
Federal Bank Limited 5,63,27,823 9,38,83,170
Unsecured (See Note (See
2.4.3)Note 2.8.1) 4,59,77,823
1,03,50,000
38,07,383 9,38,83,170
24,53,432 -
2.8.1 In case of the jointly controlled entity - M/s Seguro-INKEL Consortium LLP, cash credit loan availed from
Deposits
5,63,27,823 9,38,83,170
Federal Bank, sanctioned
Unsecured (See Note 2.4.3) on 23.04.2015 with a limit of Rs. 50 Crore against the1,03,50,000 security of Hypothecation - of
Bill Receivables with 35% Margin, Particulars Fixed Deposit for Rs.3 crore & Collateral Security (MortagedAsPiravom
As 5,63,27,823
at 31-03-2017 at Land)
31-03-2016
9,38,83,170
of Trade
INKELPayables
Limited.
( See Note 2.9.1)Particulars As
As at
at 31-03-2017
31-03-2017 As Asat
at31-03-2016
31-03-2016
NOTE i.
From
TradeBanks-Payables
Total
2.9 TRADE ( See PAYABLES
outstanding dues of micro
Note 2.9.1)
enterprises & small enterprises; and - (In 3,13,999
Rupees)
ii.Federal
Total outstanding
Bank Limited dues
(See other
Note than micro enterprises & small enterprises
2.8.1) 6,67,70,969
4,59,77,823 2,24,96,849
9,38,83,170
i. Total outstanding dues of micro enterprises
Particulars & small enterprises; and - 3,13,999
As at 31-03-2017 As at 31-03-2016
ii. Total outstanding dues other than micro enterprises & small enterprises 6,67,70,969
6,67,70,969 2,28,10,848
2,24,96,849
Trade
Deposits Payables ( See Note 2.9.1)
i.Unsecured
Total outstanding
(See Note dues of micro enterprises & small enterprises; and
2.4.3) 6,67,70,969
1,03,50,000- 2,28,10,848
3,13,999
-
ii. Total outstanding dues other than micro
Particulars enterprises & small enterprises 6,67,70,969
5,63,27,823
As at 31.03.2017 2,24,96,849
9,38,83,170
As at 31.03.2016
a. Principal Amount remaining unpaid but not due as at the year end 6,67,70,969- 3,13,999
2,28,10,848
Particulars As at 31.03.2017 As at 31.03.2016
2.9.1
b. Interest due thereon and remaining unpaid as at the year end.
The company
a. Principal has taken
Amount remaining stepsbut
unpaid tonot
identify
due asthe at thesuppliers
year endwho qualify under the
-
- definition 3,13,999
-
of micro
enterprises
b. Interest and
c. Interest paid small
due by theenterprises,
thereon and remaining
Company in as defined
Particulars
unpaid
terms asunder
of Section
Particulars 16the
at the year
of Micro, Small&and Medium
end.Small
Micro, Enterprises
As at 31-03-2017
As at 31.03.2017- As Development
at 31-03-2016
As at 31.03.2016 -
Act,
Trade2006.
Medium Intimations
Payables have
Notebeen
( SeeDevelopment
Enterprises 2.9.1)received
Act 2006 from
along one
with supplier
the regarding
amount of their status under - the said Act as
- at
a. Principal Amount remaining unpaid but not due as at the year end 3,13,999
thepayment
c.year end,
i.Interest
Total madebased
paid by ondues
the
to the
outstanding which,
Company
supplier principal
in terms
beyond
of micro amount
the of &unpaid
Section
appointed
enterprises 16
day
small oftoduring
such the
Micro,
enterprises; supplier
Smallyear
and & as at the year end - aggregating to Rs.
3,13,999
b. Interest due thereon and remaining Actunpaid as at with
the year end. of -- -
Nil/- (Rs.
Medium
ii. 3,13,999/-)
Total
Enterprises
outstanding has been
Development
dues included
other underenterprises
2006
than micro Trade Payables.
along
& smallIn
the amount the opinion of the
enterprises management,
6,67,70,969 there are- no
2,24,96,849
payment
overdue made
to the to
dueabove the supplier
parties andbeyond the appointed day during the year
d. Interest
c. Interest paid and
by the payable
Company for inthe
the impact
period
terms of interest,
ofSection
of delay in16 of ifMicro,
making any, which
payment
Small & may be payable in accordance with the
6,67,70,969 2,28,10,848
provisions
(which
Medium of
have the Act,
been
Enterprises is
paid not
but expected
beyond
Development to
the be material.
appointed day Disclosures
during the required
year) but under section 22 - of the Micro, Small
d. Interest
without due and
adding the payable
interest for the Act
specified
2006
period
under of along with
delaySmall
Micro,
the amount
in makingand payment
Medium
of -
and Medium
payment
(which have Enterprises
made beento the
paid Development
supplier
but beyondbeyond the Act,
the 2006 are
appointed
appointed day as
day
duringfollows:
during
the the
year)yearbut (In Rupees)
Enterprises Development Act, 2006. - -
without adding the interest specified under Micro, Small and Medium
Particulars As at 31.03.2017 As at 31.03.2016
e.
d. Interest accrured
Enterprises due and remaining
and payable
Development the unpaid
for2006.
Act, period of asdelay
at theinyear
making end payment - -
a. Principal
(which haveAmount
been paid remaining
but beyond unpaid thebut not due day
appointed as at the year
during the end
year) but - 3,13,999
f.
e.
b. Further
Interest
Interest interest
accrured
due remaining
thereon and and due
remaining
remainingand payable
unpaid
unpaidas even
at
as the
at in the
year
the year succeeding
end end. year, --
- ---
without adding the interest specified under Micro, Small and Medium
until such date
Enterprises when the interest
Development Act, dues as above are actually paid to the
2006.
f. Further
small
c. Interest interest
paid by remaining
enterprises, for
thethe due in
purpose
Company and
of payable
disallowance
terms evenofin
of Section athe
16 succeeding
deductible
of Micro, year,
expendi-
Small & - -
e.
until
ture Interest
such
under accrured
date when
section 23and
the
of remaining
interest
the Micro, unpaid
dues
Smallas as
above
and
Medium Enterprises Development Act 2006 along with the amount of at the
are
Medium year
actuallyend
Enterprisespaid to the - -
-- --
small enterprises,
Development
payment made Act,
to for
2006.
the the purpose
supplier beyond of disallowance
the appointed of day
a deductible
during the expendi-
year
f. Further
ture underinterest
sectionremaining
23 of the Micro,due and payable
Small and even
Medium in the succeeding year,
Enterprises
until such
Development date when the interest dues as above are actually paid to the
d.
small Interest dueAct,
andfor
enterprises,
2006.
payable for theof
the purpose period of delay of
disallowance in a
making
deductible payment
expendi- - -
(which
ture under have been paid
section 23 ofbutthebeyond the appointed
Micro, Small and Medium day during the year) but
Enterprises - -
without
Development addingAct,
the 2006.
interest specified under Micro, Small and Medium
Particulars As at 31-03-2017 As at 31-03-2016
Enterprises Development
Accounts Payable- Capital Act, 2006. 12,12,10,642 6,77,21,873
e. Interest Particulars As at 31-03-2017 As at 31-03-2016
Lease holdaccrured
Premiumand remaining
received unpaid
in advance as at the year end 2,66,62,550- 3,33,56,248 -
Accounts Payable- Capital 12,12,10,642 6,77,21,873
Interest
f. Further accrued
interest but not
remaining due on
due borrowings
and payable even in the succeeding year, 3,81,868 -
Lease hold Premium received in advance Particulars 2,66,62,550
As at 31-03-2017 As at 3,33,56,248
31-03-2016
Unpaid
until such Dividend
date when the interest dues as above are actually paid to the 5,70,406 3,25,006
Interest accrued
Accounts Payable- butCapital
not due on borrowings 3,81,868
12,12,10,642- 6,77,21,873 --
small enterprises,
Other Payables for the purpose of disallowance of a deductible expendi-
Unpaid
Lease Dividend
hold section
ture Advance
under Premium received in advance 5,70,406
2,66,62,550 3,25,006
3,33,56,248
From23 of the Micro,
Customers/Clients Small and Medium Enterprises 3,43,58,231 7,85,130
Development
Other
Interest Payables
accruedAct, 2006.
but not due on borrowings 3,81,868 -
Retention Money payable 61,88,819 1,36,85,396
Unpaid Advance
DividendFrom Customers/Clients 3,43,58,231
5,70,406 7,85,130
3,25,006
Statutory Dues 3,54,51,735 1,02,60,013
Other Retention
PayablesMoney payable 61,88,819 1,36,85,396
78
Security Deposit / Earnest Money Deposit 5,39,411 4,76,871
Statutory
Advance FromDues Customers/Clients 3,54,51,735
3,43,58,231 1,02,60,013
7,85,130
EKK Infrastructure Ltd - towards expense Particulars -
As at 31-03-2017 1,21,210
As at 31-03-2016
Security Deposit
Retention Money /payable
Earnest Money Deposit 5,39,411
61,88,819 4,76,871
1,36,85,396
Accounts Payable- Capital 12,12,10,642 6,77,21,873
 b.
c. Interest
Interest due
paidthereon and remaining
by the Company in termsunpaid as at the
of Section 16 year end.Small &
of Micro, - -
c. Interest paid by the Company in terms of Section
Medium Enterprises Development Act 2006 along with the amount of 16 of Micro, Small & - -
c. Interest
Medium
payment paid by
Enterprises
made theDevelopment
to the Company
supplier in Act
beyond termstheofappointed
2006 Section
along with16
dayof during
the Micro,
amount Small
the &
ofyear - -
Medium Enterprises
payment made to theDevelopment
supplier beyond Act the
2006 along with
appointed daythe amount
during theofyear - -
payment made to the supplier beyond the appointed
d. Interest due and payable for the period of delay in making payment day during the year
d. Interest due andpaid payable for the period of delayday
in making payment
ANNUAL
(which have been but beyond the appointed during the year) but REPORT -
d. Interest
(which havedue
beenand payable for the the
period ofMicro,
delaydayin making payment -
without adding thepaid but beyond
interest specified appointed
under Smallduring
and the year) but
Medium - 2016-2017 -
(which
without have
Enterprisesaddingbeen
thepaid butAct,
interest
Development beyond
specified
2006. the appointed
under Micro, day
Small during the year) but
and Medium
- -
without adding
Enterprises the interestAct,
Development specified
2006. under Micro, Small and Medium
e. Interest accrured and remaining unpaid as at the year end
2.9.2 In case
Enterprises
e. Interest of the and
Development
accrured jointly controlled
Act,
remaining unpaid as at the year end
-
2006. entity- Seguro-Inkel Consortium LLP, creditors/trade Payable includes
-
-
-
Subcontract
f. Further
e. amount
Interestinterest
accrured payable
remaining to
and remaining M/s.
due and Seguro
payable
unpaid asFoundations
even
at the in theend
year & Structures
succeeding Pvt. Ltd. amounting
year, - to Rs.2,99,50,056/-
-
(P.Y.
f.
untilRs.
Further
such2,66,99,496/-),
interest
date when the PMC
remaining dueCharges,
interest and
duespayable Interest
as above even on
arein Intercorporate
the succeeding
actually paid to the Advance and Guarantee Commission
year,
payable
f.
until
small to M/s.
Further
such dateINKEL
interest
enterprises,when amounting
remaining
for the
the interest
purpose toofRs.
due and
dues as18,54,992/-
payable
above even
disallowance are (P.Y.
athe Rs.paid
ofinactually 1,77,27,239/-),
succeeding
deductible to theyear,
expendi- Statutory Audit
- Fee amounting
- to
Rs.36,000/-
until
small such (P.Y.
date
enterprises,
ture under Rs.for
when
section 36,000/-),
23 the
the interest
purpose
of the and
Micro, dues amount
as and
ofSmall due
above
disallowance to
of Roads
are
Medium actually &paid
Bridges
a Enterprises
deductible expendi- -
to theDevelopment Corporation - to
Kerala Ltd.
- -
Rs.ture
3,06,45,345/-
small enterprises,
under
Development section
Act,(P.Y.
23 Rs.
for
2006.the
of theNil)
purpose
Micro,of disallowance
Small and Medium of a Enterprises
deductible expendi-
ture under section
Development 23 of the Micro, Small and Medium Enterprises
Act, 2006.
Development Act, 2006.
NOTE - 2.10 OTHER CURRENT LIABILITIES
(In Rupees)
Particulars As at 31-03-2017 As at 31-03-2016
Accounts Payable- Capital Particulars As12,12,10,642
at 31-03-2017 As at 31-03-2016
6,77,21,873
Accounts Payable- Capital Particulars As12,12,10,642
at 31-03-2017 As 6,77,21,873
at 31-03-2016
Lease hold Premium received in advance 2,66,62,550 3,33,56,248
Accounts
Lease Payable- Capital 12,12,10,642 6,77,21,873
Interesthold Premium
accrued received
but not due oninborrowings
advance 2,66,62,550
3,81,868 3,33,56,248
-
Lease hold
Interest Premium received in advance
accrued but not due on borrowings 2,66,62,550
3,81,868 3,33,56,248
-
Unpaid Dividend 5,70,406 3,25,006
Interest
Unpaid accrued
Dividend but not due on borrowings 3,81,868
5,70,406 -
3,25,006
Other Payables
Unpaid Dividend
OtherAdvance
Payables 5,70,406 3,25,006
From Customers/Clients 3,43,58,231 7,85,130
Other Payables
Advance
RetentionFrom
MoneyCustomers/Clients
payable 3,43,58,231
61,88,819 7,85,130
1,36,85,396
Advance From
Retention Customers/Clients 3,43,58,231 7,85,130
Statutory Dues payable
Money 61,88,819
3,54,51,735 1,36,85,396
1,02,60,013
RetentionDues
Statutory Money payable 61,88,819
3,54,51,735 1,36,85,396
1,02,60,013
Security Deposit / Earnest Money Deposit 5,39,411 4,76,871
Statutory
Security Dues
Deposit / Earnest Moneyexpense
Deposit 3,54,51,735
5,39,411 1,02,60,013
4,76,871
EKK Infrastructure Ltd - towards - 1,21,210
Security Deposit / Earnest Money Deposit
EKK Infrastructure Ltd - towards expense 5,39,411
- 4,76,871
1,21,210
EKK Infrastructure Ltd - towards expense 22,53,63,662
- 12,67,31,747
1,21,210
22,53,63,662 12,67,31,747
22,53,63,662 12,67,31,747
NOTE - 2.11 SHORT TERM PROVISIONS (In Rupees)
Particulars As at 31-03-2017 As at 31-03-2016
Provision for employee benefits Particulars As at 31-03-2017 As at 31-03-2016
Provision forfor
employee benefits Particulars As at 31-03-2017 As at 31-03-2016
- Provision Leave Encashment (See Note 2.31) 18,83,441 20,38,319
Provision for
-- Provision employee benefits
Provision for
for Leave Encashment
Gratuity (See Note 2.31)
(See Note 2.31) 18,83,441
9,63,151 20,38,319
-
- Provision
- Provision for
for Gratuity
Leave Encashment
(See Note (See Note 2.31)
2.31) 18,83,441
9,63,151 20,38,319
-
Proposed Dividend - 6,52,10,800
- ProvisionDividend
Proposed for Gratuity (See Note 2.31) 9,63,151
-- -
6,52,10,800
Tax on Proposed Dividend 1,32,75,385
Proposed
Tax
Provision
Dividend
on Proposed Dividend
for Income Tax --
2,21,30,252
6,52,10,800
1,32,75,385
4,08,34,925
Tax on Proposed
Provision Dividend
forCapital
IncomeExpenditure
Tax 2,21,30,252- 1,32,75,385
4,08,34,925
Provision for for Long Term Finance Lease (See Note 2.11.1) - 22,64,044
Provisionfor
Provision forCapital
IncomeExpenditure
Tax for Long Term Finance Lease (See Note 2.11.1) 2,21,30,252
- 4,08,34,925
22,64,044
2,49,76,844 12,36,23,473
Provision for Capital Expenditure for Long Term Finance Lease (See Note 2.11.1) 2,49,76,844 - 22,64,044
12,36,23,473
2,49,76,844 12,36,23,473
2.11.1 Details of Provisions
In case of the company (In Rupees)
Additional Amounts used/ Unused
Balance as at Additional Amountsduring
used/ Unused Balance as at
Nature of Provision Balance as at Provision during changed amounts Balance as at
Nature of Provision 01.04.2016 Provision
Additional
during Amounts
changed used/
during Unused
amounts 31.03.17
Balance as
01.04.2016 at the year the year reversed Balance as at
31.03.17
Nature of Provision Provision during
the year the year
changed during amounts
reversed
01.04.2016 31.03.17
the year the year reversed
Provision for Capital
Provision for for
Expenditure Capital
LongTerm 22,64,044 - 22,64,044 - -
Provision for
Expenditure
Finance Lease for LongTerm
Capital 22,64,044 - 22,64,044 - -
Expenditure
Finance Leasefor LongTerm 22,64,044 - 22,64,044 - -
Finance Lease

Particulars As at 31-03-2017 As at 31-03-2016

Particulars As at 31-03-2017 As at 31-03-2016
Building under construction - Materials in hand 75,000 67,308
Particulars
Building under construction - Materials in hand As at 31-03-2017
75,000 As at 31-03-2016
67,308
Projects under implementation (See Note 2.13.1 & 2.13.2) 40,23,06,077 3,08,85,693
Building under
Projects under construction - Materials
implementation (See Notein hand
2.13.1 & 2.13.2) 75,000
40,23,06,077 67,308
3,08,85,693
79
Projects under implementation (See Note 2.13.1 & 2.13.2)
40,23,81,077
40,23,06,077
40,23,81,077
3,09,53,001
3,08,85,693
3,09,53,001
40,23,81,077 3,09,53,001
 NOTE - 2.12
(In Rupees)
A. TANGIBLE ASSETS - (Property, Plant & Equipment)
GROSS BLOCK DEPRECIATION
SL. Opening Balance Additions during Deletions/ Closing Balance Opening Balance Depreciation Deleted during Closing Balance NET BLOCK AS ON NET BLOCK AS ON
Particulars
NO. the year Adjustments during for the year the year 31.03.2017 31.03.2016
the year
1 Freehold Land 30,79,11,893 2,98,18,149 - 33,77,30,042 - - - - 33,77,30,042 30,79,11,893
(18,17,45,828) (12,61,66,065) - (30,79,11,893) - - - - (30,79,11,893) (18,17,45,828)
2 Leasehold Land - See Note 57,01,24,282 - 1,57,03,047 55,44,21,235 3,32,30,754 65,15,655 11,29,952 3,86,16,458 51,58,04,777 53,68,93,528
2.11.1
(54,82,00,131) (5,95,95,800) (3,76,71,649) (57,01,24,282) (2,85,58,502) (68,13,363) (21,41,111) (3,32,30,754) (53,68,93,528) (51,96,41,629)
3 Building- See Note 2.11.1 and 30,09,02,641 1,21,04,588 4,72,44,108 26,57,63,120 3,74,13,446 2,80,93,367 22,58,492 6,32,48,321 20,25,14,799 26,34,89,195
Note 2.11.2
(18,58,34,306) (21,04,07,506) (9,53,39,171) (30,09,02,641) (2,66,66,060) (2,31,74,209) (1,24,26,823) (3,74,13,446) (26,34,89,195) (15,91,68,246)
Plant & Machinery - See Note
4 2.11.2 and 2.11.3 2,21,37,892 2,06,96,475 49,41,827 3,78,92,541 68,87,177 52,09,577 5,47,291 1,15,49,463 2,63,43,077 1,52,50,715
(87,41,775) (1,52,38,791) (18,42,674) (2,21,37,892) (33,82,776) (35,06,779) (2,378) (68,87,177) (1,52,50,715) (53,58,999)
5 Furniture and Fittings 1,82,46,767 2,49,900 - 1,84,96,667 87,50,358 28,04,642 - 1,15,55,000 69,41,667 94,96,409
(1,24,13,646) (58,56,221) (23,100) (1,82,46,767) (63,85,491) (23,84,350) (19,483) (87,50,358) (94,96,409) (60,28,155)
6 Office Equipments 33,46,692 1,26,189 11,400 34,61,481 21,07,444 5,62,752 10,830 26,59,367 8,02,114 12,39,248
(31,00,294) (8,99,075) (6,52,677) (33,46,692) (22,05,241) (5,22,246) (6,20,043) (21,07,444) (12,39,248) (8,95,053)
7 Computer 62,35,255 11,03,655 - 73,38,910 45,15,785 13,21,418 - 58,37,203 15,01,707 17,19,470
(45,88,315) (16,55,690) (8,750) (62,35,255) (32,40,109) (12,83,989) (8,313) (45,15,785) (17,19,470) (13,48,206)
8 Motor Car 8,83,724 32,09,154 8,83,724 32,09,154 7,07,556 6,73,617 7,39,452 6,41,720 25,67,434 1,76,168
(8,83,724) - - (8,83,724) (6,17,246) (90,310) - (7,07,556) (1,76,168) (2,66,478)
9 Electrical Fittings 58,83,890 2,20,221 - 61,04,111 15,75,430 11,57,292 - 27,32,722 33,71,389 43,08,460
(28,47,812) (39,66,963) (9,30,885) (58,83,890) (19,98,227) (3,33,770) (7,56,567) (15,75,430) (43,08,460) (8,49,585)

80
Total (A) 1,23,56,73,036 6,75,28,331 6,87,84,106 1,23,44,17,261 9,51,87,950 4,63,38,319 46,86,016 13,68,40,254 1,09,75,77,006 1,14,04,85,086
Previous Year (94,83,55,831) (42,37,86,111) (13,64,68,906) (1,23,56,73,036) (7,30,53,652) (3,81,09,016) (1,59,74,718) (9,51,87,950) (1,14,04,85,086) (87,53,02,179)

B. INTANGIBLE ASSETS
1 Computer Software 11,78,432 - - 11,78,432 8,18,814 1,33,071 - 9,51,885 2,26,547 3,59,618
(8,78,432) (3,00,000) - (11,78,432) (7,85,151) (33,663) - (8,18,814) (3,59,618) (93,281)
Total (B) 11,78,432 - - 11,78,432 8,18,814 1,33,071 - 9,51,885 2,26,547 3,59,618
Previous Year (8,78,432) (3,00,000) - (11,78,432) (7,85,151) (33,663) - (8,18,814) (3,59,618) (93,281)
Grand Total (A) + (B) 1,23,68,51,468 6,75,28,331 6,87,84,106 1,23,55,95,693 9,60,06,764 4,64,71,390 46,86,016 13,77,92,138 1,09,78,03,554 1,14,08,44,704
Previous Year (94,92,34,263) (42,40,86,111) (13,64,68,906) (1,23,68,51,468) (7,38,38,803) (3,81,42,679) (1,59,74,718) (9,60,06,764) (1,14,08,44,704) (87,53,95,460)

2.12.1 Deletions/ Adjustments represents cost of land/ building re-classifed as current asset based on management decision to dispose
the same as per long term finance lease agreement.

2.12.2 Additions during the year to Building and Plant & Machinery is net of Rs. NIL ( Rs.8,62,27,224) and Rs.Nil ( Rs.37,72,776)
respectively, being the government grant received under the “Assistance to State for Developing Export Infrastructure and other Allied
Activities “(ASIDE) Scheme.

2.12.3 Additions during the year to Plant & Machinery is net of Rs.Nil (Rs.14,41,382) being subsidy received from Government of Kerala
2016-2017
REPORT
ANNUAL

as per the State Horticulture Mission- Kerala- Hi Tech Agriculture Plan Scheme.

 Provision for Income Tax Additional Amounts used/ 2,21,30,252
Unused 4,08,34,925
Balance as at Balance as at
Naturefor
Provision ofCapital
Provision
Expenditure for Long TermProvision during
Finance Lease (Seechanged during
Note 2.11.1) amounts
- 22,64,044
01.04.2016 31.03.17
the year the year reversed
2,49,76,844 12,36,23,473

Provision for Capital ANNUAL

Expenditure for LongTerm 22,64,044 - 22,64,044 - REPORT
-
Finance Lease 2016-2017
Additional Amounts used/ Unused
Balance as at Balance as at
Nature of Provision Provision during changed during amounts
NOTE - 2.13 CAPITAL WORK IN PROGRESS
01.04.2016
the year reversed
(In Rupees)
31.03.17
the year
Particulars As at 31-03-2017 As at 31-03-2016
Building under
Provision construction - Materials in hand
for Capital 75,000 67,308
Projects under
Expenditure forimplementation
LongTerm (See Note 2.13.1 & 2.13.2)
22,64,044 - 22,64,044 40,23,06,077 - 3,08,85,693
-
Finance Lease 40,23,81,077 3,09,53,001
2.13.1 In case of the subsidiary company- INKEL-KSIDC Projects Limited, projects under implementation
includes Tower 3 & 4 Rs 56,45,626/-, Building Centre Rs.6,19,903/-, Executive Accomodation Rs. 3,78,365/- &
Particulars As at 31-03-2017 As at 31-03-2016
Power Supply Rs.1,99,58,234/-. Particulars As at 31-03-2017 As at 31-03-2016

Building under construction - Materials in hand 75,000 67,308
2.13.2 In case of in
a) Investments theEquity
subsidiary company- INKEL-EKK Roads Private Limited, under Implementation includes
Instruments
Projects
EPC underExpense
Contract implementation (See Note 2.13.1 &
for Rs.33,64,22,588/-, 2.13.2) on Term Loan Rs.19,60,151/-,
Interest 40,23,06,077 3,08,85,693
Insurance Charges
(Un-quoted, Trade, at cost)
Rs.1,59,357/-, PMC Rs.50,46,338/-
i) In Associate companies and Salaries and Allowances Rs.1,15,402/-.
40,23,81,077 3,09,53,001

NOTE
-MIV- Logistics
2.14 NON Pvt CURRENT
Ltd INVESTMENTS (In Rupees)
1,18,29,714 (1,18,29,714) Equity Shares of Rs.10/-each, Fully Paid up
Particulars As at 31-03-2017 As at 31-03-2016
Opening Balance - 6,41,43,657
Less:
a) Unrealised Profit
Investments on Project
in Equity & Facility Management Consultancy Income
Instruments - (2,95,335)
(Un-quoted,
Less: Share of Trade,
Profit/at(Loss)
cost)of Associate (See Note No. 2.14.2) - (6,38,48,322)
i) In Associate
Closing Balance companies - -
-MIV Logistics Pvt Ltd
1,18,29,714
ii) In Others(1,18,29,714) Equity Shares of Rs.10/-each, Fully Paid up
Opening- KV Balance
Apartments Pvt Ltd -
5,00,000 6,41,43,657
5,00,000
Less: Unrealised Profit onEquity
50,000 (50,000) ProjectShares
& Facility Management
of Rs.10/- each,Consultancy Income
fully paid up - (2,95,335)
Less: Share of Profit/ (Loss) of Associate (See Note No. 2.14.2) - (6,38,48,322)
Closing Balancein Preference Instruments
b) Investments - -
(Un-quoted, Trade, at cost)
ii)
i) In In Associate
Others companies
-- KV
MIVApartments PvtLtd
Logistics Pvt Ltd 5,00,000 5,00,000
50,000 (50,000) Equity Shares of Rs.10/- each, fully paid up
1,60,00,000 (1,60,00,000) Optionally Convertible Preference Shares of Rs.10/-
each, fully paid up 16,00,00,000 16,00,00,000
b) Investments in Preference Instruments
Total investments
(Un-quoted, Trade,(a)
at + (b)
cost) 16,05,00,000 16,05,00,000
i) In Associate
Aggregate amountcompanies
of unquoted investments 16,05,00,000 16,05,00,000
- MIV Logistics Pvt Ltd

1,60,00,000 (1,60,00,000) Optionally Convertible Preference Shares of Rs.10/-

each, fully paid up Particulars As16,00,00,000
at 31-03-2017 As16,00,00,000
at 31-03-2016
Total investments (a) + (b) 16,05,00,000 16,05,00,000
Capital Advances 5,68,447 59,27,500
Aggregate amount of unquoted investments 16,05,00,000 16,05,00,000
Security Deposits 15,43,340 15,82,490
2.14.1 HavingAdvance
Mobilisation regard -toEKK
the Infrastructure
plans for future
Pvtoperations
Ltd of the associate company and the realizable value
3,37,57,400 - of
assets owned
Advance by the said
to Related PartiesCompany, the management is of the opinion that there is no permanent diminution
in the value of investment in preference shares. As at
Particulars 31-03-2017 As at 31-03-2016
- Seguro - INKEL Consortium LLP 2,92,57,909 5,68,30,727
2.14.2
Income TaxCompany’s
CapitalThe
(Net)
Advances accumulated share of losses in the consolidated financial5,90,58,284
statements 7,00,50,148
5,68,447 of the59,27,500
associate
company M/s MIV
Security Deposits
Logistics Pvt Ltd amounting to Rs 1,22,19,676/- (Rs 6,15,125/-) as at
12,41,85,380
year-end
15,43,340
exceeds
13,43,90,865
15,82,490
the
carrying amount of the investment and hence the investment in Associate company is reported at nil value
in Mobilisation
accordanceAdvance - EKK Infrastructure Pvt Ltd
with Accounting Standard – 23 on Accounting for Investments in 3,37,57,400
Associates in Consolidated-
AdvanceStatements
Financial to Related Parties
as prescribed by Companies (Accounting Standards) Rules, 2006.
- Seguro - INKEL Consortium LLP 2,92,57,909 5,68,30,727
Income Tax (Net) Particulars 5,90,58,284
As at 31-03-2017 7,00,50,148
As at 31-03-2016
81 12,41,85,380 13,43,90,865
Balance with banks in Fixed Deposit accounts (See Note 2.16.1) 11,00,500 -
 ii) In Others
i) -In Associate
MIV Logisticscompanies
Pvt Ltd
- KV Apartments Pvt Ltd 5,00,000 5,00,000
- MIV Logistics Pvt Ltd
1,60,00,000 (1,60,00,000)
50,000 (50,000) Optionally
Equity SharesConvertible
of Rs.10/- Preference
each, fully Shares
paid upof Rs.10/-
each, fully paid up
1,60,00,000 (1,60,00,000) Optionally Convertible Preference Shares of Rs.10/- 16,00,00,000 16,00,00,000
each, fully paid up 16,00,00,000 16,00,00,000
b) Investments
Total investments in Preference
(a) + (b) Instruments 16,05,00,000 16,05,00,000
ANNUAL
(Un-quoted,
Total
Aggregate Trade,(a)
investments
amount at +
of cost)
(b)
unquoted investments 16,05,00,000 REPORT
16,05,00,000
i) In Associate companies
Aggregate amount of unquoted investments 16,05,00,000 2016-2017
16,05,00,000
- MIV Logistics Pvt Ltd
NOTE - 2.15 (1,60,00,000)
1,60,00,000 LONG TERM LOANS ANDPreference
Particulars
Optionally Convertible ADVANCES
Shares of Rs.10/- As at 31-03-2017 As (In Rupees)
at 31-03-2016
each, fully paid up Particulars As16,00,00,000
at 31-03-2017 As16,00,00,000
at 31-03-2016
Capital Advances 5,68,447 59,27,500
Total investments
Capital
Security Deposits (a) + (b)
Advances 16,05,00,000
5,68,447
15,43,340 16,05,00,000
59,27,500
15,82,490
Aggregate
Security amount
Advanceof- unquoted
Deposits
Mobilisation investments
EKK Infrastructure Pvt Ltd 16,05,00,000
15,43,340
3,37,57,400 16,05,00,000
15,82,490
-
Mobilisation AdvanceParties
Advance to Related - EKK Infrastructure Pvt Ltd 3,37,57,400 -
Advance
- Seguroto- INKEL
RelatedConsortium
Parties LLP 2,92,57,909 5,68,30,727
- Seguro
Income Tax- INKEL Particulars
(Net) Consortium LLP As at 31-03-2017
2,92,57,909
5,90,58,284 As at 31-03-2016
5,68,30,727
7,00,50,148
Income Tax (Net) 5,90,58,284 7,00,50,148
Capital Advances 12,41,85,380
5,68,447 13,43,90,865
59,27,500
Security Deposits 12,41,85,380
15,43,340 13,43,90,865
15,82,490
Mobilisation Advance - EKK Infrastructure Pvt Ltd 3,37,57,400 -
NOTE
Advance- 2.16 OTHER
to Related NON CURRENT ASSETS
Parties (In Rupees)
- Seguro - INKEL Consortium LLP Particulars 2,92,57,909
As at 31-03-2017 5,68,30,727
As at 31-03-2016
Income Tax (Net) Particulars 5,90,58,284
As at 31-03-2017 7,00,50,148
As at 31-03-2016
Balance with banks in Fixed Deposit accounts (See Note 2.16.1) 11,00,500 -
12,41,85,380 13,43,90,865
Trade Receivables
Balance with banks in Fixed Deposit accounts (See Note 2.16.1) 11,00,500 -
(Unsecured Considered good )
Trade Receivables
(Unsecured Considered good )
-Outstanding for a period exceeding six months from the date they were due for
payment
-Outstanding for a period exceedingParticulars
six months from the date they were due for -
As at 31-03-2017 -
As at 31-03-2016
payment
-Others -
2,46,49,842 -
2,05,73,000
Balance
-Others with banks in Fixed Deposit accounts (See Note 2.16.1) 11,00,500
2,46,49,842 -
2,05,73,000
Trade Receivables
Earnest Money Deposits 2,25,000 2,25,000
(Unsecured Considered good )
Earnest
Security Money
DepositsDeposits 2,25,000
66,96,000 2,25,000
66,96,000
-Outstanding
Security Income period
for
AdvanceDeposits a exceeding
Tax and TDS six months from the date they were due for 66,96,000
33,66,993 66,96,000
4,62,605
payment - -
Advance Income
Fixed Deposit Tax
with and (See
Banks TDS Note 2.16.2) 33,66,993
96,92,365 4,62,605
1,09,33,875
-Others 2,46,49,842 2,05,73,000
Fixed
Other Deposit with Banks
Non Current Assets (See Note 2.16.2) 96,92,365
1,47,162 1,09,33,875
1,44,000
Other Non Current Assets 1,47,162
4,58,77,862 1,44,000
3,90,34,480
Earnest Money Deposits 2,25,000
4,58,77,862 2,25,000
3,90,34,480
2.16.1 Rs.11,00,500/- (Rs.Nil) is held against public deposits in pursuance of the requirements of applicable
Security Deposits 66,96,000 66,96,000
Rules. Particulars As at 31-03-2017 As at 31-03-2016

Advance Income Tax and TDS 33,66,993 4,62,605
Land and Building held on long termParticulars
finance lease As at 31-03-2017 As at 31-03-2016
2.16.2 In case of the jointly controlled
Fixed Deposit with Banks (See Note 2.16.2)
Land and Building
Opening
entity
Balanceheld on long term finance lease
SEGURO-INKEL Consortium LLP, balance with
96,92,365 banks in deposit
1,09,33,875
-
accounts include Rs. 2,33,68,589/- held under lien against bank guarantees. Out of this, Rs. 2,13,38,589/- is of
Other
Add: Non
Opening Current
Balance
Additions Assets
during the year 1,47,162
6,39,53,246 1,44,000
12,25,47,226-
maturity period more than 12 months.
Add: Additions
Less: Disposedduring
duringthe
theyear
year 4,58,77,862
6,39,53,246 3,90,34,480
12,25,47,226
NOTE
Less:- Disposed
Closing 2.17
BalanceINVENTORIES
during the year 6,39,53,246
- 12,25,47,226-
(In Rupees)
Closing Balance - -
Particulars As at 31-03-2017
- As at 31-03-2016
-
Land and Building held on long term finance lease
Opening Balance -
Add: Additions during the year 6,39,53,246 12,25,47,226
Less: Disposed during the year 6,39,53,246 12,25,47,226
Closing Balance - -
- -

82
 ANNUAL
REPORT
2016-2017

NOTE - 2.18 TRADE RECEIVABLES

(In Rupees)
Particulars As at 31-03-2017 As at 31-03-2016
Trade Receivables
(Unsecured Considered good )
-Outstanding for a period exceeding six months from the date they were due for
payment 1,54,08,168 59,25,622
-Others( See Note 2.18.1) 20,13,00,603 37,54,98,110
21,67,08,771 38,14,23,732

2.18.1 Trade Receivables include debts due from:

Particulars Description As at 31-03-2017 As at(In Rupees)
31-03-2016
MIV Logistics Private Particulars
Private limited company in which a director of As at 31-03-2017 As at 31-03-2016
Trade
LimitedReceivables INKELParticulars
Limited is a director As at90,66,462
31-03-2017 As at 58,35,872
31-03-2016
Trade
Kerala Receivables
(Unsecured Considered good )
Industrial
(Unsecured Considered good Government
) of Kerala owned Statutory Body in 76,79,984 -
Infrastructure
-Outstanding for a period exceeding
which asixdirector
monthsoffrom the Limited
INKEL date theyiswere due for
a director
Development
payment Corporation
-Outstanding for a period exceeding six months from the date they were due for 1,54,08,168 59,25,622
(KINFRA)
payment 1,54,08,168 59,25,622
-Others( See Note 2.18.1) 20,13,00,603 37,54,98,110
-Others(
Kerala State Note 2.18.1) Government of Kerala owned private limited
SeeIndustrial 20,13,00,603
21,67,08,771 37,54,98,110
10,15,37,226
38,14,23,732
2,300
Development Corporation company in which a director of INKEL Limited is a 21,67,08,771 38,14,23,732
(KSIDC) director
2.18.1 Trade Receivables include debts due from:
KeralaParticulars
Academy for Skills Government of Kerala Description
owned private limited company As at 31-03-2017 As at(In Rupees)
31-03-2016
Particulars Description 8,52,316
As at 31-03-2017 9,30,82,680
As at 31-03-2016
Excellence
MIV (KASE)
Logistics Private in which a director
Private limited companyof INKEL Limited
in which is a director
a director of
90,66,462 58,35,872
MIV Logistics Private
Limited INKEL Limited is a director
Private limited company in which a director of
90,66,462 58,35,872
Limited
Kerala Industrial INKEL Limited is a director
Government of Kerala owned Statutory Body in 76,79,984 -
Kerala Industrial
Infrastructure
Particulars
which a director of INKEL Limited is a director As at76,79,984
31-03-2017 -
As at 31-03-2016
Infrastructure Corporation Government
Development
of Kerala owned Statutory Body in
Cash on Hand which a director of INKEL Limited is a director 7,295 13,088
Development Corporation
(KINFRA)
Balance
(KINFRA)with Banks
Kerala State Industrial Government of Kerala owned private limited 10,15,37,226
In Current Accounts 2,32,34,105
2,300 7,13,424
company in which
Development Corporation Government
Kerala State Industrial a director
of Kerala ownedofprivate
INKELlimited
Limited is a 10,15,37,226
In Fixed Deposit Accounts company
director in which a director of INKEL Limited is a 2,300
34,35,74,640 20,36,03,635
Development Corporation
(KSIDC)
(KSIDC) director 36,68,16,040 20,43,30,147
Kerala Academy for Skills Government of Kerala owned private limited company
8,52,316 9,30,82,680
Kerala Academy
Excellence (KASE)for Skills Government
in which a director
of Keralaof owned
INKELprivate
Limited is a director
limited company 8,52,316 9,30,82,680
Excellence (KASE) in which a director of INKEL Limited is a director

2.18.2 In case of theParticulars

Subsidiary Company - M/s INKEL - KSIDC
SBN
Project Other
Limited, trade receivables
denomination includes
Total
Particulars As at 31-03-2017 As at 31-03-2016
dues for lease premium including Duratech Rs. 1,77,500/-. notes

Cash on Hand Particulars As at 31-03-2017
7,295 As at 31-03-2016
13,088
Closing Cash in hand as on 08.11.2016 8,000 8,202 16,202
2.18.3
Cash
Balance onIn
Hand
withcase
Banksof the jointly controlled entity - M/s Seguro-INKEL Consortium LLP 7,295, trade receivables
13,088
(+) Permitted
represents amountsReceipts
receivable from - Kerala State Construction -
Corporation 1,69,276
amounting to Rs. 1,69,276
11,50,95,405/-
Balance with Banks
In Current Accounts 2,32,34,105 7,13,424
(P.Y.
In Rs.Permitted
(-) 8,81,98,926/-),
PaymentsKerala PWD amounting to Rs. 2,71,67,355/- (P.Y.
- Rs. 24,68,02,359/-)
2,32,34,105 and20,36,03,635
1,53,472 from Roads
1,53,472
In Current Accounts
Fixed Deposit Accounts 34,35,74,640 7,13,424
and (-)
Bridges
Amount Development Corporation Kerala Ltd. amounting to Rs.
deposited in Banks 8,0007,78,29,718/- (P.Y.
3,900Rs. Nil) towards the
11,900
In Fixed Deposit Accounts 34,35,74,640 20,36,03,635
pending
bills related to construction
Closing Cash in hand as on 30.12.2016 of Bridges. - 36,68,16,040
20,106 20,43,30,147
20,106
36,68,16,040 20,43,30,147

Particulars As at 31-03-2017 As at 31-03-2016

Other denomination
Particulars SBN Total
Loans/advances to related parties Other denomination
notes
Particulars SBN Total
notes8,202
83
Closing
SeguroCash in hand
- INKEL as on 08.11.2016
Consortium LLP 8,000 2,94,58,630 16,202
2,07,20,437
Closing
(+) Cash in
Permitted hand as
Receipts on 08.11.2016
INKEL - EKK Roads Private Ltd 8,000
- 8,202
1,69,276
- 16,202
1,69,276
1,14,448
(+) Permitted Payments
(-) Permitted Receipts -- 1,69,276
1,53,472 1,69,276
1,53,472
 Trade Receivables
(KINFRA)
(Unsecured Considered good )
Kerala State Industrial Government of Kerala owned private limited 10,15,37,226
-Outstanding for a period exceeding six months from the date they were due for 2,300
Development Corporation company in which a director of INKEL Limited is a
payment director 1,54,08,168 59,25,622
(KSIDC) ANNUAL
-Others( See Note 2.18.1) 20,13,00,603 37,54,98,110
Kerala Academy for Skills Government of Kerala owned private limited company REPORT
21,67,08,771
8,52,316 38,14,23,732
9,30,82,680
2016-2017
Excellence (KASE) in which a director of INKEL Limited is a director

NOTEParticulars
- 2.19 CASH AND CASH EQUIVALENTS
Description
As at 31-03-2017 As at(In Rupees)
31-03-2016

MIV Logistics Private Particulars
Private limited company in which a director of As at 31-03-2017 As at 31-03-2016
90,66,462 58,35,872
Limited
Cash on Hand INKEL Limited is a director 7,295 13,088
Kerala
BalanceIndustrial
with Banks
Government of Kerala owned Statutory Body in 76,79,984 -
Infrastructure
In Current Accounts 2,32,34,105 7,13,424
which a director of INKEL Limited is a director
Development Corporation
In Fixed Deposit Accounts 34,35,74,640 20,36,03,635
(KINFRA)
36,68,16,040 20,43,30,147
Kerala State Industrial Government of Kerala owned private limited 10,15,37,226
2,300
2.19.1 Earmarked
Development Balances:
Corporation company
in which a director of INKEL Limited is a
Balance director
(KSIDC)with banks in Current Accounts include earmarked balances for unpaid dividend Rs. 5,70,406/- (Rs.
3,25,006/-).
Kerala Academy for Skills
Government of Kerala owned private limited company Other denomination
8,52,316 9,30,82,680
Excellence (KASE) Particulars SBN
in which a director of INKEL Limited is a director Total
notes
2.19.2 Balance with banks in Deposit Accounts include Rs. 2,54,606/- (Rs. 50,000/-) held with a maturity
Closing
period Cash in
of more hand
than 12 as on 08.11.2016
months 8,000against public deposits
and Rs. 1,00,99,500/- (Rs. Nil) is held 8,202 16,202of
in pursuance
the requirements of applicable Rules.
(+) Permitted Receipts - 1,69,276 1,69,276
(-) Permitted Payments Particulars - As at 31-03-2017
1,53,472 As at 31-03-2016
1,53,472
2.19.3
Cash onIncase of the company
Handdeposited
(-) Amount in Banks , balance with banks in deposit accounts include3,900
8,000 Rs. 7,84,33,734/-
7,295 (Rs.
13,088
11,900
5,34,61,396/-)
Balance
Closing Cash held
with Banks under
in hand lien.
as on 30.12.2016 - 20,106 20,106
In Current Accounts 2,32,34,105 7,13,424
2.19.4 In case of the subsidiary
In Fixed Deposit Accounts company INKEL-EKK Roads Private Limited, balance
34,35,74,640with banks in deposit
20,36,03,635
accounts include Rs. 65,00,000/- held under lien.
Particulars As36,68,16,040
at 31-03-2017 As 20,43,30,147
at 31-03-2016

2.19.5 The details of Specified Bank Notes(SBN) held and transacted during the period from 8th November,
Loans/advances to related parties
2016 to 30th December, 2016 are as provided in the table below:
Seguro - INKEL Consortium LLP 2,94,58,630 (In Rupees)
2,07,20,437
INKEL - EKK Roads Private Ltd - 1,14,448
Other denomination
Particulars SBN Total
notes
Others:
Closing Cash in hand as on 08.11.2016 8,000 8,202 16,202
Advances recoverable in cash or in kind or for value to be received 74,28,866 2,04,90,756
(+) Permitted Receipts - 1,69,276 1,69,276
Earnest Money Deposits 3,70,000 12,75,000
(-) Permitted Payments - 1,53,472 1,53,472
Balances with Government Authorities 3,72,86,739 3,96,41,372
(-) Amount deposited in Banks 8,000 3,900 11,900
Advance to Suppliers/Contractors 27,77,478 25,85,320
Closing Cash in hand as on 30.12.2016 - 20,106 20,106
Mobilisation and secured advance 7,54,75,888 1,42,11,459
Advance
The abovetodisclosures
employees do not include direct remittances made by customers into 5,09,484 3,48,000
the Bank Account of the
Company
Others Rs.2,33,947/- (SBN - Rs.1,89,000/- and other denomination notes Rs.44,947/-).
35,00,000 35,00,000
Particulars As at 31-03-2017 As at 31-03-2016
15,68,07,085 10,28,86,791
In case of the jointly controlled entity - Seguro INKEL Consortium LLP, the above figures are Nil, since there is
noLoans/advances
cash transactionto during
related the
parties
year in the books of accounts of the LLP.
Seguro - INKEL Consortium LLP 2,94,58,630 2,07,20,437
TheINKEL
above- EKK
disclosure
Roadsdoes notLtd
Private include SBN details relating to the Associate Company -- MIV Logistics Private
1,14,448
Limited. Particulars As at 31-03-2017 As at 31-03-2016
Interest Receivable 72,16,573 1,50,00,323
Others:
In TDS
respect of the subsidiary
& Advance companies INKEL-KINFRA Infrastructure Projects Limited
tax (2016-17) , INKEL-EKK Roads
9,68,145 -
Advances
Private recoverable
Limited and in cash
INKES or in Centre
Trade kind or for value tothe
Limited, be respective 74,28,866
received companies did not have any 2,04,90,756
holdings
Others 1,64,41,593 43,69,237or
dealings
EarnestinMoney
Specified Bank Notes during the period from 08th November,2016 to2,46,26,311
Deposits 30th December,2016.
3,70,000 12,75,000
1,93,69,560
Balances with Government Authorities 3,72,86,739 3,96,41,372
Advance to Suppliers/Contractors 27,77,478 25,85,320
Mobilisation and secured advance 7,54,75,888 1,42,11,459
Advance to employees 5,09,484 3,48,000
Others 35,00,000 35,00,000
84 For15,68,07,085
the year 10,28,86,791
For the year
Particulars ended 31.03.2017 ended 31.03.2016
 Other
Other denomination
denomination
Particulars
Particulars SBN
SBN Total
Total
notes
notes
Closing
Closing Cash
Cash in
in hand
hand as
as on
on 08.11.2016
08.11.2016 8,000
8,000 8,202
8,202 16,202
16,202
(+) Permitted Receipts
(+) Permitted Receipts -- 1,69,276
1,69,276 1,69,276
1,69,276
(-) Permitted
Permitted Payments
Payments -- 1,53,472 ANNUAL
1,53,472
(-) 1,53,472 1,53,472
REPORT
(-)
(-) Amount deposited in
Amount deposited in Banks
Banks 8,000
8,000 3,900
3,900 11,900
11,900
2016-2017
Closing Cash
Closing Cash in
in hand
hand as
as on
on 30.12.2016
30.12.2016 -- 20,106
20,106 20,106
20,106
NOTE - 2.20 SHORT TERM LOANS AND ADVANCES (In Rupees)

Particulars
Particulars As
As at
at 31-03-2017
31-03-2017 As
As at
at 31-03-2016
31-03-2016

Loans/advances
Loans/advances toto related
related parties
parties
Seguro -- INKEL
Seguro INKEL Consortium
Consortium LLP
LLP 2,94,58,630
2,94,58,630 2,07,20,437
2,07,20,437
INKEL
INKEL - EKK Roads Private Ltd
- EKK Roads Private Ltd -- 1,14,448
1,14,448

Others:
Others:
Advances
Advances recoverable
recoverable in
in cash
cash or
or in
in kind
kind or
or for
for value
value to
to be
be received
received 74,28,866
74,28,866 2,04,90,756
2,04,90,756
Earnest
Earnest Money
Money Deposits
Deposits 3,70,000
3,70,000 12,75,000
12,75,000
Balances
Balances with
with Government
Government Authorities
Authorities 3,72,86,739
3,72,86,739 3,96,41,372
3,96,41,372
Advance to Suppliers/Contractors
Advance to Suppliers/Contractors 27,77,478
27,77,478 25,85,320
25,85,320
Mobilisation and
Mobilisation and secured
secured advance
advance 7,54,75,888
7,54,75,888 1,42,11,459
1,42,11,459
Advance to employees
Advance to employees 5,09,484
5,09,484 3,48,000
3,48,000
Others
Others 35,00,000
35,00,000 35,00,000
35,00,000
15,68,07,085
15,68,07,085 10,28,86,791
10,28,86,791

NOTE - 2.21 OTHER CURRENT ASSETS (In Rupees)

Particulars
Particulars As
As at
at 31-03-2017
31-03-2017 As
As at
at 31-03-2016
31-03-2016
Interest
Interest Receivable
Receivable 72,16,573
72,16,573 1,50,00,323
1,50,00,323
TDS
TDS & Advance tax
& Advance tax (2016-17)
(2016-17) 9,68,145
9,68,145 --
Others
Others 1,64,41,593
1,64,41,593 43,69,237
43,69,237
2,46,26,311
2,46,26,311 1,93,69,560
1,93,69,560

For
For the
the year
year For
For the
the year
year
Particulars
Particulars ended 31.03.2017 ended 31.03.2016
ended 31.03.2017 ended 31.03.2016
Sale
Sale of
of Services
Services
Income
Income from disposal
from disposal of
of land
land and
and building
building (On
(On Long
Long Term
Term Finance
Finance Lease)
Lease) 13,33,01,498
13,33,01,498 28,47,93,715
28,47,93,715
Construction Income
Construction Income 15,70,17,214
15,70,17,214 20,57,88,651
20,57,88,651
Share of Course Fee Received
Share of Course Fee Received 1,15,76,199
1,15,76,199 1,13,00,301
1,13,00,301
Income from Operating
Income from Operating Lease Lease 91,15,468
91,15,468 1,01,47,680
1,01,47,680
Income from Project Management Services (Refer Note 2.23.1)
Income from Project Management Services (Refer Note 2.23.1) 1,99,97,381 1,99,97,381 83,99,901
83,99,901
Common
Common Amenity
Amenity Charges
Charges 47,43,290
47,43,290 46,82,328
46,82,328
Lighting system commissioning
Lighting system commissioning servicesservices 30,93,346
30,93,346 --
Facility Management Service
Facility Management Service 35,90,462
35,90,462 --

Sale
Sale of
of Products
Products
Sale
Sale of lighting
of lighting system
system 6,48,05,636
6,48,05,636 --
Income from Agriculture
Income from Agriculture 4,93,401
4,93,401 --
85 40,77,33,895
40,77,33,895 52,51,12,576
52,51,12,576
 Advance to employees 5,09,484 3,48,000
Others 35,00,000 35,00,000
15,68,07,085 10,28,86,791

ANNUAL
REPORT
2016-2017
Particulars As at 31-03-2017 As at 31-03-2016
Interest Receivable 72,16,573 1,50,00,323
NOTES FORMING
TDS & Advance tax (2016-17) PART OF CONSOLIDATED STATEMENT
9,68,145 OF -
PROFIT AND LOSS FOR THE YEAR ENDED 31.03.2017
Others 1,64,41,593 43,69,237
2,46,26,311 1,93,69,560

NOTE - 2.22 REVENUE FROM OPERATIONS

(In Rupees)

For the year For the year

Particulars ended 31.03.2017 ended 31.03.2016

Sale of Services
Income from disposal of land and building (On Long Term Finance Lease) 13,33,01,498 28,47,93,715
Construction Income 15,70,17,214 20,57,88,651
Share of Course Fee Received 1,15,76,199 1,13,00,301
Income from Operating Lease 91,15,468 1,01,47,680
Income from Project Management Services (Refer Note 2.23.1) 1,99,97,381 83,99,901
Common Amenity Charges 47,43,290 46,82,328
Lighting system commissioning services 30,93,346 -
Facility Management Service 35,90,462 -

Sale of Products
Sale of lighting system 6,48,05,636 -
Income from Agriculture 4,93,401 -
40,77,33,895 52,51,12,576

2.22.1 Details of Project Management Consultancy services (PMC):

a. Revenue recognized from PMC contracts :Rs. 1,99,97,381/- For the year For the year
Particulars
ended 31.03.2017 ended 31.03.2016
b. Details
Interest Income of cost incurred for PMC contracts : Rs.1,13,21,205/- 94,54,982 5,23,92,516


Guarantee Fee Received 11,00,583
The above cost represents only direct costs incurred in relation/allocable 7,55,167
to the PMC contracts.Details
Profit of
onindirect
Sale ofcosts (if any), which are not seperately ascertainable have not
Assets been inculded in the
1,44,285 same.
68,861
Liquidity Damages 95,005 40,000
c. Amount of advances received: Rs. Nil

Interest on Lease Premium 96,88,222 31,14,816
d. Amount
Interest of retentions:
on Secured Advance Rs. Nil 2,22,046 5,27,276
Interest on Mobilisation Advance 25,98,568 5,98,609
Interest on Fixed Deposit/Bank 1,39,36,914 10,10,564
Agricultural Income - 2,78,697
Subsidy Receipt 42,275 -
Miscellaneous Income 8,07,736 12,39,516
3,80,90,616 6,00,26,022
86
 Income
Sale of from Agriculture
lighting system 4,93,401
6,48,05,636 --
Sale of Products
Income from Agriculture 40,77,33,895
4,93,401 52,51,12,576 -
Sale of lighting system 6,48,05,636
40,77,33,895 52,51,12,576 -
Income from Agriculture 4,93,401 -
For the year ANNUAL
For the year
Particulars 40,77,33,895
ended 31.03.2017 52,51,12,576
REPORT
ended 31.03.2016
For the year 2016-2017
For the year
Interest Income Particulars 94,54,982
ended 31.03.2017 5,23,92,516
ended 31.03.2016
Guarantee Fee ReceivedParticulars For the year
11,00,583 For7,55,167
the year
NOTE
Interest- 2.23
IncomeOTHER INCOME 94,54,982
ended 31.03.2017 5,23,92,516
ended(In Rupees)
31.03.2016
Profit on Sale of Assets 1,44,285 68,861
Guarantee Fee Received
Interest Income 11,00,583 For7,55,167
Liquidity Damages 94,54,982
For the year
95,005 5,23,92,516
the year
40,000
Profit on Sale
Guarantee Assets Particulars
FeeofReceived ended1,44,285
31.03.2017 68,861
ended 31.03.2016
Interest on Lease Premium 11,00,583
96,88,222 7,55,167
31,14,816
Liquidity
Interest
Profit Damages
onIncome
Sale of Assets 95,005
94,54,982
1,44,285 40,000
5,23,92,516
68,861
Interest on Secured Advance 2,22,046 5,27,276
Interest
Guarantee on Lease Premium
Fee Received
Liquidity Damages 96,88,222
11,00,583
95,005 31,14,816
7,55,167
40,000
Interest on Mobilisation Advance 25,98,568 5,98,609
Interest
Interest on
Profit onon Secured
Sale Advance
of Assets
Lease Premium 2,22,046
1,44,285
96,88,222 5,27,276
68,861
31,14,816
Interest on Fixed Deposit/Bank 1,39,36,914 10,10,564
Interest
Liquidityon
Interest Mobilisation
Damages
on Secured Advance 25,98,568
95,005 5,98,609
40,000
Agricultural Income Advance 2,22,046
-
5,27,276
2,78,697
Interest
Interest on
on Fixed
LeaseDeposit/Bank
Premium
Mobilisation Advance 1,39,36,914
96,88,222
25,98,568 10,10,564
31,14,816
5,98,609
Subsidy Receipt 42,275 -
Agricultural
Interest on
Interest Income
on Fixed
Secured Advance
Deposit/Bank -
2,22,046
1,39,36,914 2,78,697
5,27,276
10,10,564
Miscellaneous
Subsidy Income
Receipt 8,07,736 12,39,516
Interest on Mobilisation
Agricultural Income Advance 42,275
25,98,568
- 5,98,609
2,78,697-
Interest on Fixed Deposit/Bank 3,80,90,616 6,00,26,022
Miscellaneous
Subsidy Receipt Income 8,07,736
1,39,36,914
42,275 12,39,516
10,10,564 -
Agricultural Income
Miscellaneous Income 3,80,90,616
-
8,07,736 6,00,26,022
2,78,697
12,39,516
Subsidy Receipt 42,275
3,80,90,616 6,00,26,022 -
Miscellaneous Income 8,07,736 12,39,516
3,80,90,616 6,00,26,022
For the year For the year
NOTE - 2.24 COST OF LAND ACQUIRED / BUILDING / AMENITIES CONSTRUCTED
Particulars ended 31.03.2017 AND
endedDISPOSED
31.03.2016
(On long term finance lease agreements)
Particulars For the year For the year
(In Rupees)
- Cost of Land 1,45,73,095
ended 31.03.2017 3,55,30,539
ended 31.03.2016
- Cost of Building/Amenities For the year
4,93,80,151 For the year
8,70,16,687
- Cost of Land Particulars 1,45,73,095
ended 31.03.2017 3,55,30,539
ended 31.03.2016
6,39,53,246 12,25,47,226
-- Cost
Cost of
of Building/Amenities
Land 4,93,80,151
For the year
1,45,73,095 8,70,16,687
For the year
3,55,30,539
Particulars ended 31.03.2017 ended 31.03.2016
- Cost of Building/Amenities 6,39,53,246
4,93,80,151 12,25,47,226
8,70,16,687
- Cost of Land 1,45,73,095
6,39,53,246 3,55,30,539
12,25,47,226
- Cost of Building/Amenities 4,93,80,151 8,70,16,687
NOTE - 2.25 PURCHASE OF STOCK IN TRADE
Particulars 6,39,53,246
For the year 12,25,47,226
For(In
theRupees)
year
ended 31.03.2017 ended 31.03.2016
For the year For the year
Solar light Particulars 5,57,15,416
ended 31.03.2017 -
ended 31.03.2016
Highmast light For the year
49,72,869 For the year
-
Solar light Particulars 5,57,15,416
ended 31.03.2017 -
ended 31.03.2016
6,06,88,285 -
Highmast
Solar light light 49,72,869
5,57,15,416
For the year --
For the year
Particulars
Highmast light 6,06,88,285
ended 31.03.2017
49,72,869 --
ended 31.03.2016
Solar light 5,57,15,416
6,06,88,285 --
NOTE - 2.26
Highmast lightOPERATING EXPENSE 49,72,869 (In Rupees)
-
6,06,88,285
For the year For the year-
Particulars ended 31.03.2017 ended 31.03.2016
For the year For the year
Construction Expense - Sub Contract
Particulars 12,33,82,164
ended 31.03.2017
17,11,27,350
ended 31.03.2016
Labour welfare cess For 1,25,252
the year For the year
2,03,677
Particulars
Construction Expense - Sub Contract 12,33,82,164
ended 31.03.2017 17,11,27,350
ended 31.03.2016
Security Recovery Charges 1,00,000 -
Labour welfare
Construction cess - Sub Contract
Expense 1,25,252
12,33,82,164
For the year
2,03,677
17,11,27,350
For the year
Particulars 12,36,07,416 17,13,31,027
Security Recovery
Labour welfare Charges
cess ended1,00,000
31.03.2017
1,25,252 ended 2,03,677-
31.03.2016
Construction
Security Expense
Recovery - Sub Contract
Charges 12,36,07,416
12,33,82,164
1,00,000 17,13,31,027
17,11,27,350 -
Labour welfare cess 1,25,252
12,36,07,416 2,03,677
17,13,31,027
Security Recovery Charges 87 1,00,000 -
Particulars 12,36,07,416
For the year 17,13,31,027
For the year
 Labour welfare
Construction cess - Sub Contract
Expense 1,25,252
12,33,82,164 2,03,677
17,11,27,350
Security Recovery
Labour welfare Charges
cess 1,00,000
1,25,252 -
2,03,677
Security Recovery Charges 12,36,07,416
1,00,000 17,13,31,027-
For the year For the year
ANNUAL
Particulars 12,36,07,416
ended 31.03.2017 17,13,31,027
ended 31.03.2016
REPORT
Salaries & Allowances 4,18,84,351 2016-2017
2,76,08,899
Contribution to Provident and Other Funds 29,87,604 14,86,254
NOTE - 2.27 EMPLOYEE
Staff Welfare BENEFIT EXPENSE
Expense Particulars For25,92,492
the year For(In
theRupees)
year
13,92,458
ended 31.03.2017 ended 31.03.2016
4,74,64,447
For the year 3,04,87,611
For the year
Salaries & Allowances Particulars 4,18,84,351
ended 31.03.2017 2,76,08,899
ended 31.03.2016
Contribution to Provident and Other Funds
Salaries & Allowances 29,87,604
4,18,84,351 14,86,254
2,76,08,899
Staff WelfaretoExpense
Contribution Provident and Other Funds 25,92,492
29,87,604 13,92,458
14,86,254
Staff Welfare Expense 4,74,64,447
25,92,492 3,04,87,611
13,92,458
For the year For the year
Particulars
4,74,64,447
ended 31.03.2017 3,04,87,611
ended 31.03.2016

NOTE - 2.28 FINANCE COSTS (In Rupees)

Interest Expense 1,39,83,354 1,05,80,313
Interest on Public Deposits For56,11,382
the year For the year-
Particulars ended 31.03.2017 ended 31.03.2016
Other Borrowing costs -Expense for procurement & For61,44,305
the year For the year-
Particulars ended 31.03.2017 ended 31.03.2016
administration of public deposits
Interest Expense 1,39,83,354 1,05,80,313
2,57,39,041 1,05,80,313
Interest Expense
Interest on Public Deposits 56,11,382
1,39,83,354 -
1,05,80,313
Other Borrowing
Interest on Publiccosts -Expense for procurement &
Deposits 61,44,305
56,11,382 --
administration of public deposits
Other Borrowing costs -Expense for procurement & 61,44,305 -
administration of public deposits 2,57,39,041 1,05,80,313

NOTE - 2.29 OTHER EXPENSE 2,57,39,041 1,05,80,313

(In Rupees)
For the year For the year
Particulars ended 31.03.2017 ended 31.03.2016
Expenditure on corporate social responsibility activity (See Note 2.30.1) 21,05,000 2,11,825
Project Management Services Expense 94,00,963 48,03,371
For the year For the year
Hostel Running and Course Particulars
expense 20,95,153
ended 31.03.2017 12,41,234
ended 31.03.2016
Lighting system commissioning expense For30,67,652
the year For the year-
Expenditure on corporate socialParticulars
responsibility activity (See Note 2.30.1) 21,05,000
ended 31.03.2017 ended2,11,825
31.03.2016
Facility Management Divisional Expense 34,69,981 -
Project Management
Expenditure on corporateServices Expense activity (See Note 2.30.1)
social responsibility 94,00,963
21,05,000 48,03,371
2,11,825
Agricultural expense 68,95,955 17,49,046
Hostel
Project Running and Course expense 20,95,153 12,41,234
Power &Management
Fuel Services Expense 94,00,963
24,44,248 48,03,371
36,95,561
Lighting
Hostel system commissioning expense 30,67,652 -
Rent Running and Course expense 20,95,153
26,51,668 12,41,234
34,63,360
Facility
Lighting Management Divisional expense
Expense 34,69,981 --
Repairs system commissioning
& Maintenance 30,67,652
34,98,671 50,88,489
Agricultural
Facility expense Divisional Expense
Management 68,95,955
34,69,981 17,49,046
-
Insurance 1,60,557 1,15,388
Power & Fuel
Agricultural 24,44,248 36,95,561
Payment to expense
Auditors 68,95,955
- 17,49,046
Rent
Power &- Statutory
Fuel 26,51,668
24,44,248 34,63,360
36,95,561
Audit 5,90,000 3,53,000
Repairs
Rent -&Taxation
Maintenance 34,98,671
26,51,668 50,88,489
34,63,360
Service 1,00,000 87,500
Insurance
Repairs-&OtherMaintenance 1,60,557
34,98,671 1,15,388
50,88,489
Services 28,650 59,000
Payment
Insurance to Auditors -
1,60,557 1,15,388
- Reimbursement of expense 24,103 11,258
Payment - Statutory
to AuditorsAudit 5,90,000
- 3,53,000
Bank charges & interest 16,62,289 5,12,037
- Statutory
Taxation Audit
Service 1,00,000 87,500
Meeting- expense 5,90,000
13,11,294 3,53,000
15,47,922
-- Other
TaxationServices
Service 28,650
1,00,000 59,000
87,500
Sitting fee to Directors 19,85,641 7,85,905
-- Reimbursement
OtherforServices of expense 24,103
28,650 11,258
59,000
Consideration Manpower services 49,12,554 45,13,925
Bank charges & interest of expense
- Reimbursement 16,62,289
24,103 5,12,037
11,258
Advertisement & Publicity 51,22,248 83,96,504
Meeting
Bank expense
charges &
Loss on Sale of assetsinterest 88 13,11,294
16,62,289
570
15,47,922
5,12,037
1,79,867
Sitting fee to
Meeting expense Directors 19,85,641
13,11,294 7,85,905
15,47,922
 Payment - to
Taxation
AuditorsService 1,00,000
- 87,500
Meeting expense 13,11,294 15,47,922
Other Services
- Statutory Audit 28,650
5,90,000 59,000
3,53,000
Sitting fee to Directors 19,85,641 7,85,905
Reimbursement
- Taxation Serviceof expense 24,103
1,00,000 11,258
87,500
Consideration for Manpower services 49,12,554 45,13,925
Bank charges
- Other&Services
interest 16,62,289
28,650 5,12,037
59,000
Advertisement & Publicity 51,22,248 83,96,504
ANNUAL
Meeting- expense
Reimbursement of expense 13,11,294
24,103 15,47,922
REPORT11,258
Loss on Sale of assets 570 1,79,867
Sittingcharges
Bank fee to Directors
& interest 19,85,641
16,62,289 2016-2017
7,85,905
5,12,037
Membership/ Subscription to Professional bodies 1,09,359 1,68,494
Consideration
Meeting for Manpower services
expense 49,12,554
13,11,294 45,13,925
15,47,922
Postages, Telephone and internet charges 12,48,106 9,86,710
Advertisement
Sitting & Publicity
fee to Directors 51,22,248
19,85,641 83,96,504
7,85,905
Printing and Stationery 3,08,945 2,85,681
Consideration forassets
Loss on Sale of Manpower services 570
49,12,554 1,79,867
45,13,925
Professional Charges & Legal Fee 40,76,228 15,97,466
Advertisement & Publicity to Professional bodies
Membership/ Subscription 1,09,359
51,22,248 1,68,494
83,96,504
Rates & Taxes 62,71,168 36,28,672
Postages,
Loss on SaleTelephone
of assetsand internet charges 12,48,106
570 9,86,710
1,79,867
Staff Recruitment Expense 2,85,963 6,94,772
Printing and Stationery
Membership/ Subscription to Professional bodies 3,08,945
1,09,359 2,85,681
1,68,494
Travelling & Conveyance 56,97,907 42,34,824
Professional
Postages, Charges
Telephone & Legal
and Feecharges
internet 40,76,228
12,48,106 15,97,466
9,86,710
Expenditure on projects written off - 4,11,669
Rates & and
Printing Taxes
Stationery 62,71,168
3,08,945 36,28,672
2,85,681
Staff Recruitment expense 90,214 -
Staff Recruitment
Professional Expense
Charges & Legal Fee 2,85,963
40,76,228 6,94,772
15,97,466
Guarantee Commission 1,65,088 89,590
Travelling
Rates &
& TaxesConveyance 56,97,907
62,71,168 42,34,824
36,28,672
Business Promotion Expense 6,63,108 1,54,498
Expenditure
Staff on projects
Recruitment Expensewritten off -
2,85,963 4,11,669
6,94,772
Preincorporation Expense - 2,00,259
Travelling & Conveyance
Staff Recruitment expense 90,214
56,97,907 -
42,34,824
Preliminary Expense 10,55,769 -
Expenditure on projects written off
Guarantee Commission 1,65,088
- 89,590
4,11,669
Miscellaneous Expense 5,20,663 7,35,099
Business
Staff Promotion
Recruitment Expense
expense 6,63,108
90,214 1,54,498
-
7,20,19,714 5,00,02,926
Preincorporation
Guarantee Expense
Commission -
1,65,088 2,00,259
89,590
Preliminary
Business ExpenseExpense
Promotion 10,55,769
6,63,108 -
1,54,498
Preincorporation Expense
Miscellaneous Expense 5,20,663
- 7,35,099
2,00,259
Preliminary Expense 7,20,19,714
10,55,769 5,00,02,926
-
Miscellaneous Expense For5,20,663
the year For7,35,099
the year
Particulars
7,20,19,714
ended 31.03.2017 5,00,02,926
ended 31.03.2016

NOTE - 2.29.1
i) Gross amountNote on Expenditure
required on Corporate
to be spent during the year Social Responsibility
23,87,842 activities
17,63,000
(In Rupees)
ii) Amount spent during the year
For the year For the year
- Construction/acquisitionParticulars
of any asset -
ended 31.03.2017 -
ended 31.03.2016
i)- Gross
on purposes
amountother than to
required above
be spent during the year 21,05,000
23,87,842
For the year
2,11,825
For17,63,000
the year
Particulars ended21,05,000
31.03.2017 ended 31.03.2016
ii) Amount spent during the year 2,11,825
i)- Gross amount required toofbe
Construction/acquisition spent
any during the year
asset 23,87,842
- 17,63,000
-
ii)- on purposes
Amount spentother than
during theabove
year 21,05,000 2,11,825
- Construction/acquisition of any asset -
21,05,000 -
2,11,825
- on purposes other than above 21,05,000 2,11,825
NOTE - 2.30 EARNINGS PER SHARE (In Rupees)
21,05,000 2,11,825
For the year For the year
Particulars ended 31.03.2017 ended 31.03.2016

Profit after tax for the year as per Statement of Profit and Loss (In Rs.) (1,18,60,399) 4,22,14,402
Weighted average number of equity shares of Rs.10/-(Rs.10/-) For the year For the year
Particulars 16,30,27,000 16,30,27,000
each (fully paid up) ended 31.03.2017 ended 31.03.2016

Basicafter
andtax Diluted For the year For the year
Profit for theEarnings PerStatement
Equity Share-
year Particulars
as per of ProfitInand
Rs.Loss (In Rs.) (1,18,60,399) 4,22,14,402
ended 31.03.2017 ended 31.03.2016
(Face Value of Share- Rs.10 each)
Weighted average number of equity shares of Rs.10/-(Rs.10/-) (0.07) 0.26
16,30,27,000 16,30,27,000
eachafter
Profit paid
(fullytax for up)
the year as per Statement of Profit and Loss (In Rs.) (1,18,60,399) 4,22,14,402
Weighted average number of equity shares of Rs.10/-(Rs.10/-)
Basic and Diluted Earnings Per Equity Share- In Rs.
each (fully
(Face Value paid up)
of Share- Rs.10 each) 89 16,30,27,000 16,30,27,000
(0.07) 0.26
 ANNUAL
REPORT
2016-2017

Note No. 2.31EMPLOYEE BENEFITS

(Disclosure under Accounting Standard 15 – ‘Employee Benefits’)

2.31.1 Defined Contribution Plans

In case of the Holding Company – INKEL Limited
During the year the company has recognized Rs.15,70,778/-(Previous Year Rs.9,21,033/-) as Contribution
to Provident Fund, Rs.7,32,816/- (Rs.Nil/-) as Contribution to National Pension Scheme and Rs.8,780/-(Rs.
Nil/-) as Contribution to Employee State Insurance in the Statement of Profit and Loss on account of defined
contribution plans.

In case of the Subsidiary Company – INKEL-KSIDC Projects Limited

During the year the company has recognized Rs. 3,11,504/- (Previous year Rs. 1,81,630/-) in the Statement of
Profit and Loss on account of defined contribution plans.

2.31.2 Defined Benefit Plans

In case of the Holding Company – INKEL Limited

Gratuity (Funded)

(i) Actuarial Assumptions 31st March, 31st March,

2017 2016
Discount Rate 8.00% p.a. 8.00% p.a.
Rate of return on plan assets 8.00% p.a. Not Applicable
31 st March, 31st March,
(i) Compensation escalation rate *
Actuarial Assumptions 5.00% p.a. 5.00% p.a.
Mortality rate Indian 2017Lives Indian2016Lives
Discount Rate 8.00% p.a.
Mortality[1994 8.00% p.a.
Mortality[1994
Rate of return on plan assets 8.00%
-1996] p.a. Not Applicable
-1996]
Compensation escalation rate * 5.00% Table
Ultimate p.a. 5.00%Table
Ultimate p.a.
Mortality rate Indian Lives Indian Lives
*The assumption of future
(ii) Reconciliation salary increases
of present value oftakes
obligation: Mortality[1994
into account the inflation,
31stseniority, Mortality[1994
March, promotions and other
31st March,
relevant factors such as supply and demand in the employment market. -1996]
2017 -1996]
2016
Present value of obligation at the Ultimate Table Ultimate Table
26,82,144 (In Rupees)
23,57,549
beginning of the year
(ii) Reconciliation of present value of obligation: 31st March, 31st March,
Current Service Cost 6,11,610 3,86,837
2017 2016
Interest Cost 2, 39,036 2,04,077
Present value of obligation at the
Actuarial (gain)/loss 9,19,593
26,82,144 (78,620)
23,57,549
beginning of the year
Benefits Paid (1,09,867) (1,87,699)
Current Service Cost
Curtailments 6,11,610
- 3,86,837
-
Interest Cost
Settlements 2, 39,036
- 2,04,077
-
Actuarialvalue
Present (gain)/loss
of obligation at the end of the year 9,19,593
43,42,516 (78,620)
26,82,144
Benefits Paid (1,09,867) (1,87,699)
Curtailments - -
Settlements - -
Present value of obligation at the end of the year 43,42,516
st
31 March, 26,82,144
31 March,
st
(iii) Reconciliation of fair value of plan assets :
201 7 201 6
Fair value of plan assets at the beginning of the
29,90,269 20,44,503
year
31 st March, 31 st March,
Expected return of
(iii) Reconciliation onfair
planvalue
assetsof plan assets : 2,39,221 1,63,560
Actuarial gain/(loss) 201
(3,09,925) 7 201 6
1,23,033
Fair value of
Contributions
year
plan assets at the beginning of
90
the 5,69,667
29,90,269 8,19,064
20,44,503
Benefits paid (1,09,867) (1,59,891)
Expected return on plan assets 2,39,221 1,63,560
 Present
beginningvalue of year
of the obligation at the
Interest Cost
Current
beginningService
of the Cost
year 2, 39,036
26,82,144
6,11,610 2,04,077
23,57,549
3,86,837
Current Service
ActuarialCost Cost
(gain)/loss 6,11,610
9,19,593 3,86,837
(78,620)
Interest 2, 39,036 2,04,077
Current
Interest Service
Cost
Benefits Paid Cost 2,6,11,610
39,036
(1,09,867) 3,86,837
2,04,077
(1,87,699)
Actuarial (gain)/loss 9,19,593 (78,620)
Interest
ActuarialCost
(gain)/loss
Curtailments 2, 39,036
9,19,593
- 2,04,077
(78,620)
-
Benefits Paid (1,09,867) (1,87,699)
Actuarial
Benefits (gain)/loss
Paid
Settlements 9,19,593
(1,09,867) (78,620)
ANNUAL
(1,87,699)
Curtailments -- REPORT--
Benefits Paid
Curtailments
Present value of obligation at the end of the year (1,09,867)
- (1,87,699)
-
Settlements 43,42,516
- 26,82,144
-
2016-2017
Curtailments
Settlements - -
Present value of obligation at the end of the year 43,42,516 26,82,144
Settlements
Present value of obligation at the end of the year -
43,42,516 -
26,82,144
Present value of obligation at the end of the year 43,42,516 (In Rupees)
26,82,144
(iii)Reconciliation of fair value of plan assets : 31st March, 31st March,
(iii)Reconciliation of fair value of plan assets :
st201
31st March, 7 31st201 March,6
(iii)Fair value of planofassets
Reconciliation at theofbeginning
fair value plan assetsof the
: 31 201 March,
7 31 st March,
201 6
29,90,269
31 st201 7
March, 20,44,503
31st201 March,6
(iii)yearvalue of planofassets
Reconciliation
Fair fair value
at theofbeginning
plan assets :
of the
Fair value of plan assets at the beginning of the 201 7
29,90,269 201 6
20,44,503
Expected
year return on plan assets 2,39,221
29,90,269 1,63,560
20,44,503
Fair
year valuegain/(loss)
Actuarial of plan assets at the beginning of the (3,09,925) 1,23,033
Expected return on plan assets 29,90,269
2,39,221 20,44,503
1,63,560
year
Expected return on plan assets
Contributions 2,39,221
5,69,667 1,63,560
8,19,064
Actuarial gain/(loss) (3,09,925) 1,23,033
Expected
Actuarial return on plan assets
gain/(loss)
Benefits paid 2,39,221
(3,09,925)
(1,09,867) 1,63,560
1,23,033
(1,59,891)
Contributions 5,69,667 8,19,064
Actuarial gain/(loss)
Contributions
Assets distributed on settlement (3,09,925)
5,69,667- 1,23,033
8,19,064
-
Benefits paid (1,09,867) (1,59,891)
Contributions
Benefits
Fair valuepaid
of plan assets at the end of the year 5,69,667
(1,09,867)
33,79,365 8,19,064
(1,59,891)
29,90,269
Assets distributed on settlement - -
Benefits paid
Assets distributed on settlement (1,09,867)
- (1,59,891)
-
(In
-Rupees)
Fair value of plan assets at the end of the year 33,79,365 29,90,269
Assets
Fair
(iv) Net distributed
value
(Asset)/Liability on recognised
of plan assets settlement
at the endin of the
the year 3133,79,365-
st March,
3129,90,269
st March,
Fair value
Balance of
Sheet planas assets
at at
year the
end: end of the year 33,79,365
st2017 29,90,269
2016
(iv) Net (Asset)/Liability recognised in the 31 March, 31st March,
(iv) Net (Asset)/Liability
Balance Sheetofas recognised
at year end: in the 31st2017
March, 31 st March,
Present value obligation 43,42,516 26,82,144
2016
(iv) Net (Asset)/Liability
Balance Sheet as at recognised
year end: in the 31st2017
March, 31st2016
March,
Fair value
Present
Balance of plan
value
Sheet ofas assets
obligation
at year end: 33,79,365
43,42,516
2017 29,90,269
26,82,144
Present value of obligation 43,42,516 2016
26,82,144
Net
Fairpresent
value ofvalue
plan of unfunded obligation
assets 33,79,365 29,90,269
Present
Fair value
value
recognised ofas of
plan obligation
assets
(asset)/liability in the Balance Sheet 43,42,516
33,79,365
9,63,151 26,82,144
29,90,269
(3,08,125)
Net present value of unfunded obligation
Fair
Net value
present of plan
value assets
of unfunded obligation 33,79,365 29,90,269
recognised as (asset)/liability in the Balance Sheet 9,63,151 (3,08,125)
Net present value
recognised of unfunded obligation
as (asset)/liability in the Balance Sheet 9,63,151 (3,08,125)
recognisedrecognised
(v) Expenses as (asset)/liability in the Balance Sheet
in the Statement 31st
9,63,151
March, st March,
31(3,08,125)
(In Rupees)
of Profit and Loss:
(v) Expenses recognised in the Statement 31st 2017
March, 31 st2016
March,
(v) of
Expenses recognised st March, st March,
Current
ProfitService
and Cost in the Statement
Loss: 316,11,610
2017
st March,
313,86,837
2016
st March,
(v) Expenses
of Profit
Interest recognised
and Loss: in the Statement 312,39,036
2017 312,04,077
2016
Current Cost
Service Cost 6,11,610 3,86,837
of Profit
Current
Expected and
Service Loss:
Cost
return on plan assets 2017
6,11,610
(2,39,221) 2016
3,86,837
(1,63,560)
Interest Cost 2,39,036 2,04,077
Current Service
Interest Cost
Actuarial Cost recognised in the 6,11,610
2,39,036 3,86,837
2,04,077
Expected return/loss
(gain) on plan assets (2,39,221)
12,29,518 (1,63,560)
(2,01,653)
Interest Cost
Expected return on plan assets
period 2,39,036
(2,39,221) 2,04,077
(1,63,560)
Actuarial (gain) /loss recognised in the
Expected
Actuarial
Past return
(gain)
Service Cost on plan
/loss assets in the
recognised (2,39,221)
12,29,518- (1,63,560)
(2,01,653)
-
period 12,29,518 (2,01,653)
Actuarial
period
Curtailment(gain) /loss recognised in the
Past Servicecost Cost --
12,29,518 --
(2,01,653)
period
Past Service
Settlement Cost --- ---
Curtailmentcostcost
Past Service
Curtailment
Total expenses Cost
cost - -
Settlement cost recognised in the - -
Curtailment
Settlement of
Statement cost
costProfit and Loss -
18,40,943 -
2,25,701
Total expenses recognised in the
Settlement
Total cost recognised in the
expenses - -
Statement of Profit and Loss 18,40,943 2,25,701
Total expenses
Statement recognised
of Profit and Loss in the 18,40,943
st 2,25,701
(i) Statement
Actuarial Assumptions 31 March, 31st March,
of Profit and Loss 18,40,943 2,25,701
Leave Plan (Unfunded) 31st 2017
March, 31st 2016
March,
(i) Actuarial
Discount RateAssumptions 31st2017
8.00% March,p.a. 31st2016
8.00% March,p.a.
(i) Actuarial Assumptions st st
Rate ofreturn
(i) Actuarial on plan assets
Assumptions Not31 March,
2017
Applicable 31
Not March,
2016
Applicable
Discount Rate 8.00% p.a. 8.00% p.a.
Discount Rate
Compensation 8.00%2017p.a.p.a. 8.00% 2016p.a.
p.a.
Rate ofreturn onescalation
plan assets rate* Not5.00%
Applicable 5.00%
Not Applicable
Discount Rateon plan assets
Rate ofreturn Not8.00%
Applicablep.a. 8.00%
Not Applicablep.a.
Mortality rate
Compensation escalation rate* Indian
5.00%Lives p.a. Indian
5.00%Lives p.a.
Rate ofreturn onescalation
Compensation plan assets rate* Not Applicable
5.00% p.a. Not Applicable
5.00% p.a.
Mortality rate escalation rate* Mortality[1994
Indian Lives Mortality[1994
Indian Lives
Compensation
Mortality rate 5.00%
Indian
-1996] p.a.
Lives 5.00%
Indian
-1996] p.a.
Lives
Mortality[1994 Mortality[1994
Mortality rate Indian
Mortality[1994
Ultimate Lives Indian Lives
Mortality[1994
Table UltimateTable
-1996] -1996]
Mortality[1994
-1996] Mortality[1994
-1996]
Ultimate Table UltimateTable
-1996]
Ultimate -1996]
Table UltimateTable
(ii) Reconciliation of present value of obligation: 31st March, 31st March,
Ultimate Table UltimateTable
31st 2017
March, 31st 2016
March,
(ii) Present
Reconciliation
value ofof present at
obligation value
the of obligation: 31 st March, 31 st March,
*The
(ii) assumption of future
Reconciliation salary increases
of present value oftakes into account the inflation,42,92,508
obligation: seniority,
2017 promotions
st st2016
24,52,295and other
(ii) beginning of the year 31 2017March, 31 March,
2016
relevant factorsvalue
such
Reconciliation
Present as supply
ofof present
obligation the ofinobligation:
and demand
value
at the employment market.
Present value of year
obligation at the 2017
42,92,508 2016
24,52,295
beginning of the
Current Service Cost 20,00,310
42,92,508 13,16,083
24,52,295
Present
beginning value of year
of the obligation at the
Interest Cost
Current
beginning
Current
Service
of the Cost
Service year
Cost 91 1,14,373
42,92,508
20,00,310
20,00,310
24,52,295
2,48,827
13,16,083
13,16,083
Actuarial (gain)/loss
Interest Cost 8,35,832
1,14,373 6,88,205
2,48,827
Current Cost
Interest Service Cost 20,00,310
1,14,373 13,16,083
2,48,827
 2017 2016
Compensation
Rate ofreturn escalation rate* Not5.00% p.a. Not5.00% p.a.
Discount Rateon plan assets Applicable
8.00% p.a. Applicable
8.00% p.a.
Compensation
Mortality rate escalation rate* 5.00% p.a.
Indian Lives 5.00%
Indian p.a.
Lives
Rate ofreturn on plan assets Not Applicable Not Applicable
Mortality rate Mortality[1994
Indian Lives Mortality[1994
Indian Lives
Compensation escalation rate* 5.00% p.a. Mortality[1994
Mortality[1994
5.00% p.a.
-1996] -1996]
Mortality rate Indian Lives
-1996]
Ultimate ANNUAL
Indian Lives
-1996]
Table UltimateTable
Mortality[1994 REPORT
Mortality[1994
Ultimate Table UltimateTable
-1996] 2016-2017
-1996]
31st March, 31st March,
(ii) Reconciliation of present value of obligation: Ultimate Table
31st March, UltimateTable
31st March,
(ii) Reconciliation of present value of obligation: 2017 2016
(In Rupees)
Present value of obligation at the 2017 2016
st March, st March,
(ii) Present value ofof
of the obligation
Reconciliation
beginning presentatvalue
year the of obligation: 31
42,92,508
42,92,508
31
24,52,295
24,52,295
beginning of the year 2017 2016
Current Service
Present Cost
value ofCost
obligation at the 20,00,310 13,16,083
Current Service 20,00,310 13,16,083
Interest Cost 42,92,508
1,14,373 24,52,295
2,48,827
beginning
Interest of the year
Cost 1,14,373 2,48,827
Actuarial (gain)/loss
Actuarial (gain)/loss 8,35,832
8,35,832 6,88,205
6,88,205
Current Service Cost 20,00,310 13,16,083
Benefits Paid
Benefits Paid (19,08,193)
(19,08,193) (4,12,902)
(4,12,902)
Interest Cost 1,14,373 2,48,827
Curtailments
Curtailments -- --
Actuarial (gain)/loss 8,35,832 6,88,205
Settlements
Settlements -- --
Benefits Paid (19,08,193) (4,12,902)
Present value ofof obligation
obligation at
at the
the end
end of the year
ofthe year 53,34,830
53,34,830 42,92,508
42,92,508
Curtailments
Curtailments - -
Settlements - -
Present value of obligation at the end of the year 53,34,830
stst 42,92,508
stst
(iii) Reconciliation
Reconciliation of
of fair
fair value
value of
of plan
plan assets
assets:: 31
31 March,
March, 31
31 March,
March,
2017
2017 2016
(In
2016Rupees)
Fair
Fair value
value of
of plan
plan assets
assets at
at the
the beginning
beginning st - st -
of the year
(iii) Reconciliation -
31 March, -
31 March,
of the year of fair value of plan assets :
Expected
Expected return
return on
on plan
plan assets
assets 2017
-- 2016
--
Fair valuegain/(loss)
Actuarial of plan assets at the beginning -- --
Actuarial gain/(loss)
of the year
Contributions -- --
Contributions
Expectedpaid
Benefits return on plan assets -- --
Benefits paid - -
Actuarial
Assets gain/(loss)
distributed on settlement -- --
Assets distributed on settlement --- - --
Contributions
Fair value of plan assets at the end of the year
Fair value of plan assets at the end of the year - -
Benefits paid - -
Assets distributed on settlement - -
Fair value of plan assets at the end of the year - -

(In Rupees)
(iv) Net (Asset)/Liability recognised 31st March, 31st March,
(iv) in
Netthe(Asset)/Liability
Balance Sheet recognised
as at year end: 31st March,
2017 st March,
312016
in the Balance Sheet as at year end:
Present value of obligation 2017
5 3,34,830 2016
42,92,508
Present
(iv) Fair
Net valuevalue of obligation
of plan assets
(Asset)/Liability recognised 5 st
3,34,830
-
31 March, 42,92,508
st-
31 March,
Net
Fair present
value ofvalue
plan
in the Balance Sheetof unfunded obligation
assets - -
as at year end: 2017 2016
recognised
Net presentas (asset)/liability
value of unfunded in obligation
the 53,34,830 42,92,508
Present value
Balance Sheet of obligation 5 3,34,830 42,92,508
recognised as (asset)/liability in the 53,34,830 42,92,508
Fair value
Balance of plan assets
Sheet - -
Net present value of unfunded obligation
recognised as (asset)/liability in the 53,34,830 (In Rupees)
42,92,508
Balance Sheet
(v) Expenses recognised in the Statement 31st March, 31st March,
of Profit and Loss: 2017 2016
(v) Expenses recognised in the Statement 31st March, 31st March,
Current Service Cost 20,00,310 13,16,083
of Profit and Loss: 2017 2016
Interest Cost 1,14,373 2,48,827
Current Service Cost assets 20,00,310
st 13,16,083
st
(v) Expected
Expenses return on plan in
recognised the Statement -
31 March, -
31 March,
Interest
ActuarialCost
(gain) /loss recognised in the 1,14,373 2,48,827
of Profit and Loss: 2017
8,35,832 2016
6,88,205
Expectedreturn on plan assets
period - -
Current Service Cost 20,00,310 13,16,083
Actuarial
Past (gain)
Service /loss recognised in the
Cost - -
8,35,832 6,88,205
period Costcost
Interest
Curtailment
1,14,373
--
2,48,827
--
Expectedreturn on plan assets
Past Service
Settlement Cost
cost - - --
Actuarial (gain)
Curtailment cost/loss recognised in the 8,35,832
- 6,88,205
-
Total expenses recognised in the
period 29,50,515 22,53,115
Settlementof
Statement cost
Profit and Loss - -
Past Service Cost - -
Total expenses recognised in the
Curtailment cost -
29,50,515 -
22,53,115
Statement of Profit and Loss
Settlement cost - -
Total expenses
(i) Actuarial recognised in the
Assumptions 92 31st March,
29,50,515
31st March,
22,53,115
Statement of Profit and Loss 2017 2016
 of Profit and Loss: 2017 2016
Current Service Cost 20,00,310 13,16,083
(v) Interest
Expenses recognised in the Statement
Cost 31st 1,14,373
March, st March,
312,48,827
of Profit return
Expected and Loss:
on planinassets 2017
- 2016
-
(v) Expenses recognised the Statement 31st March, 31st March,
Current
ActuarialService
(gain)
of Profit and Loss: Cost
/loss recognised in the 20,00,310
2017 13,16,083
ANNUAL
2016
8,35,832 6,88,205
Interest Service
period
Current Cost Cost 1,14,373
20,00,310 2,48,827
REPORT
13,16,083
Expected
Past
Interest return
Service
Cost on plan assets
Cost -
1,14,373 -
2016-2017
2,48,827
Actuarial
Curtailment(gain)
cost /loss recognised
Expectedreturn on plan assets in the -- --
8,35,832 6,88,205
period
Settlement
The above
Actuarial cost
disclosures
(gain) are based
/loss on information
recognised - relied upon by the
certified by the independent actuary and
in the - auditors.
Past
Total Service
expenses Cost
recognised in the 8,35,832
- 6,88,205
-
period 29,50,515 22,53,115
Curtailment
Statement cost
of Profit and Loss - -
In case
PastofService
the Subsidiary
Settlement cost
Cost Company – INKEL-KSIDC Projects Limited - -
Curtailment cost -- --
Gratuity (Funded)
Total expenses
Settlement cost recognised in the -
29,50,515 -
22,53,115
Statement
Total expensesof Profit and Loss
recognised in the st st
(i) Statement 31 29,50,515
March, 31 March,
22,53,115
Actuarial Assumptions
of Profit and Loss 2017 2016
Discount Rate (per annum) 8.00% p.a. 8.00% p.a.
31 st March, 31st March,
(i) Actuarial Assumptions
Rate of return on plan assets Not 2017
31stApplicable
March, Not 2016
31stApplicable
March,
(i) Actuarial Assumptions
Discount Rate (per annum) 8.00%
2017p.a. 8.00%
2016 p.a.
Discount Rate (per
Compensation annum)rate *
escalation 8.00%
5.00%p.a. p.a. 8.00%
5.00%p.a.
p.a.
Rate of return on plan assets Not Applicable Not Applicable
Rate of return on plan assets NotIndian Lives
Applicable Indian
Not Lives
Applicable
Compensation Mortality[1994- Mortality[1994-
Mortality rate escalation rate * 5.00% p.a. 5.00% p.a.
1996] Ultimate 1996] Ultimate
Compensation escalation rate * 5.00%
Table
Indian p.a.
Lives 5.00% p.a.
Table
Indian Lives
Mortality[1994-
Indian Lives Mortality[1994-
Indian Lives
Mortality rate
*The assumption of future salary increases takes into account the inflation, seniority, promotions and other
1996] Ultimate
Mortality[1994-
st 1996] Ultimate
Mortality[1994-
relevant factors rate
(ii) Mortality such asof
Reconciliation supply and demand
present value ofinobligation: 31 March,
the employment market.1996] 31st March,
Table
Ultimate Table
1996] 2016
Ultimate
2017 (In Rupees)
Present value of obligation at the Table Table
9,691 -
beginning of the of year
present value of obligation: 31st March, 31st March,
(ii) Reconciliation
Current Service of Cost 31st 2017
March,
12,610 2016
31st7,859
March,
(ii) Reconciliation present value of obligation:
Present value of obligation at the 2017 2016
Interest Cost 1,280
9,691 314
-
beginning
Present of the
value of year
obligation at the
Actuarial (gain)/loss (1,364)
9,691 6,023
-
beginning of the year
Current Service Cost 12,610 7,859
Benefits Paid - (3,685)
Interest Service
Current Cost Cost 1,280
12,610 7,859314
Curtailments - -
ActuarialCost
Interest (gain)/loss (1,364)
1,280 6,023
314
Settlements - -
Actuarial (gain)/loss
Benefits Paid (1,364)
- 6,023
(3,685)
Present value of obligation at the end 22,217 9,691
Benefits Paid
Curtailments
of the year -- (3,685)
-
Curtailments
Settlements -- --
Settlements
Present value of obligation at the end - -
31st22,217
March, 31st9,691
March
of the year
Reconciliation
(iii) Present value ofof fair value
obligation at of
theplan
end assets : 2017
22,217 2016
9,691
of the year
Fair value of plan assets at the (In Rupees)
beginning of the year 31st72,811
March, -
31st March
(iii) Reconciliation of fair value of plan assets :
Expected returnof onfair
plan assets 31st 2017
March,
5,824 31st2016
March
-
(iii) Reconciliation
Fair value of plan assets
value
at
of plan assets :
the 2017 2016
Actuarial gain/(loss) 11,880
72,811 --
beginning
Fair value of
Contributions the year
of plan assets at the 1,33,810
72,811 76,496
-
Expected return
beginning of the on
yearplan assets 5,824 -
Benefits paid - (3,685)
Expected return
Actuarial gain/(loss)on plan assets 5,824
11,880 -
Assets distributed on settlement - --
Actuarial gain/(loss)
Contributions 11,880
1,33,810 -
76,496
Fair value of plan assets at the end of the year 2,24,325 72,811
Contributions
Benefits paid 1,33,810- 76,496
(3,685)
Benefits paid
Assets distributed on settlement -- (3,685)
-
Assets distributed
Fair value on settlement
of plan assets at the end of the year -
2,24,325 -
72,811
(iv) Fair
Net value of plan assetsrecognised
(Asset)/Liability at the end of the year
in the 2,24,325
31 st March, 3172,811
st March,

Balance Sheet as at year end: 2017 2016

Present value of obligation 22,217 9,691
(iv) Net (Asset)/Liability recognised in the 31 st March, 31 st March,
Fund Status 2,02,108 63,120
(iv) Net (Asset)/Liability
Balance Sheet as at recognised
year end: in the 31st 2017
March, 31st March,
2016
Fair value of plan assets
Balance Sheetofas
Present value at year end:
obligation 93 2017
-
22,217
72,811
2016
9,691
Net present value of unfunded obligation
Present value
Fund Status of obligation 22,217
2,02,108 9,691
63,120
 Expected return 72,811 -
beginning
Expected of theon plan
plan assets
year 5,824 --
Fair value return
of planon
assets assets
at the 5,824
Expected
Actuarial return on
gain/(loss) plan assets 72,811
5,824
11,880 ---
beginning of the year
Actuarial gain/(loss) 11,880 -
Actuarial
Expected gain/(loss)
Contributions
return on plan assets
Contributions 11,880
1,33,810
5,824 --
76,496
1,33,810 76,496
Contributions
Benefits
Actuarial paid
gain/(loss)
Benefits paid 1,33,810
--
11,880 76,496
(3,685)
-
(3,685)
Benefitsdistributed
Assets paid
Contributions
Assets distributed on
on settlement
settlement ---
1,33,810 ANNUAL --
(3,685)
76,496
Fair value of plan assets at REPORT
Assets
Benefits distributed
Fair valuepaid
of plan assets at the
the end
on settlementend of
of the
the year
year --
2,24,325
2,24,325 72,811-
(3,685)
72,811
2016-2017
Assets distributed on settlement the year
Fair value of plan assets at the end of 2,24,325
- 72,811
-
Fair value of plan assets at the end of the year 2,24,325 72,811
(In Rupees)
(iv) Net (Asset)/Liability recognised in the 31st March, 31ststMarch,
(iv) Net (Asset)/Liability recognised in the 31st March, 31 March,
(iv) Balance Sheet as at recognised
Net (Asset)/Liability year end: 2017
st 31st2016
Balance Sheet as at year end: in the 31 2017
March, March,
2016
(iv) Present
Balance
Net value
Sheet ofasobligation
(Asset)/Liability
Present value at recognised
year end: in the
of obligation st22,217
2017
31 22,217
March, st 9,691
2016
31 March,
9,691
Fund
Present
BalanceStatus
value
Sheet ofasobligation
at year end: 2,02,108
22,217
2017 63,120
9,691
2016
Fund Status 2,02,108 63,120
Fair
Fund value
PresentStatusof
value plan assets
of obligation -
2,02,108
22,217 72,811
63,120
9,691
Fair value of plan assets - 72,811
Net present value of unfunded obligation
Net present value assets
Fair
Fund value
Statusof plan of unfunded obligation -
2,02,108 72,811
63,120
recognised
Net present as (asset)/liability
value of unfundedin the
Fair value ofas
recognised plan assets
(asset)/liability inobligation
the -
(2,02,108) 72,811
(63,120)
Balance
recognisedSheet
as (asset)/liability (2,02,108) (63,120)
Balance
Net Sheet
present value of unfundedinobligation
the
(2,02,108) (63,120)
Balance Sheet
recognised as (asset)/liability in the
(2,02,108) (63,120)
(v) Balance
Expenses Sheet
recognized in the Statement 31st March, (InMarch,
31stst Rupees)
(v) Expenses recognized in the Statement 31st March, 31 March,
of Profit
(v) Expenses and Loss:
recognized in the Statement 2017
st
31 2017March, st2016
31 2016March,
of Profit and Loss:
Current
of ProfitService
and Cost
Loss: 31st 2017
12,610
March, 31st 2016
7,859
March,
Current Service Cost
(v) Expenses recognized in the Statement 12,610 7,859
Interest
of ProfitCost
Current Service
and Loss: Cost 1,280
12,610
2017 2016 314
7,859
Interest Cost 1,280 314
Interest Service
Current Cost Cost 1,280
12,610 7,859 314
Expected return on plan assets ( 5,824) -
Expected
Interest return on plan assets
Cost ( 1,280
5,824) -314
Expected(gain)
Actuarial return/loss
on plan assets in the
recognized ( 5,824) -
Actuarial
Expected (gain) /loss
return/loss recognized
on plan assets in the (13,244)
( 5,824) 6,203
-
period
Actuarial (gain) recognized in the (13,244) 6,203
period (13,244) 6,203
period
Past Service
Actuarial Cost
(gain) /loss recognized in the - -
Past Service Cost (13,244)- 6,203-
Curtailment
period
Past Service cost
Cost -- --
Curtailment cost - -
Settlement
Curtailment
Past Service cost
cost
Cost ---- ----
Settlement cost
Total expenses
Settlement
Curtailment cost
costrecognized in the -- --
Total expenses
Statement of recognized
Profit and Lossin the (51,778) 14,376
Total expenses
Settlement
Statement cost
of recognized
Profit and Lossin the (51,778)
- 14,376-
Statement of Profit and Lossin the (51,778) 14,376
Total expenses recognized
Statement of Profit and Loss (51,778) 14,376
Leave Plan (Unfunded)

(i) Actuarial Assumptions 31stst March, 2017 31stst March 2016

(i) Actuarial Assumptions 31 March, 2017 31 March 2016
(i) Discount
ActuarialRate (per annum)
Assumptions 31st8.00%
March, p.a.
2017 31st8.00%Marchp.a. 2016
Discount Rate (per annum) 8.00% p.a. 8.00% p.a.
(i) Rate of return
Discount
Actuarial Rate on
(per
Assumptionsplan assets
annum) 31Not Applicable
st 8.00%
March, p.a.
2017 31Not
st Applicable
8.00%
March p.a.
2016
Rate of return on plan assets Not Applicable Not Applicable
Compensation
Rate of return
Discount Rate on escalation
(perplan rate *
assets
annum) Not5.00% p.a.
Applicable
8.00% p.a. Not 5.00% p.a.
Applicable
8.00% p.a.
Compensation escalation rate * 5.00% p.a. 5.00% p.a.
Mortality
Compensation
Rate rate
of return escalation rate * Indian
5.00% Lives
p.a. Indian
5.00% Lives
p.a.
Mortality rate on plan assets Not Applicable
Indian
Mortality[1994Lives -
Not Applicable
Indian Lives
Mortality[1994-
Mortality rate escalation rate *
Compensation Indian
5.00% Lives
Mortality[1994p.a. - Indian
5.00% Lives
p.a.
Mortality[1994-
1996] Ultimate-
Mortality[1994 1996] Ultimate
Mortality[1994-
Mortality rate IndianUltimate
1996] Lives IndianUltimate
1996] Lives
*The assumption of future salary increases takes into account the 1996]seniority,
inflation, Ultimate
Mortality[1994 1996] Ultimate
- promotions and
Mortality[1994- other
(ii) Reconciliation of present value of 1996] Ultimate 1996] Ultimate
relevant factors such asof
(ii) Reconciliation supply and demand
present value ofin the employment market. 31 st March, 2017 31st March 2016
(ii) obligation:
Reconciliation of present value of 31st March, 2017 31st March (In Rupees)
2016
obligation: 31st March, 2017 31st March
Present value
obligation:
(ii) Reconciliation of obligation at the 1,99,243
- - 2016
Present value
beginning of theofof present at
obligation value
the of 1,99,243
31st March,- 2017 31st March - 2016
Present
obligation:
beginning value
of theof year
obligation at the
year 1,99,243
- -
Current
beginning
Present Service
of the Cost
value of Costyear
obligation at the 1,70,136
1,99,243 1,52,796
-
Current Service -
1,70,136 1,52,796
Interest
beginning
Current Cost
of the Cost
Service year 22,745
1,70,136 6,112
1,52,796
Interest Cost 22,745 6,112
Actuarial
Current (gain)/loss
Interest Service
Cost Cost (17,234)
1,70,136
22,745 40,335
1,52,796
6,112
Actuarial (gain)/loss (17,234) 40,335
Benefits
Interest
Actuarial Paid
Cost
(gain)/loss (18,896)
22,745
(17,234) -
6,112
40,335
Benefits Paid (18,896) -
Curtailments
Actuarial
Benefits (gain)/loss
Paid -
(17,234)
(18,896) --
40,335
Curtailments - -
Settlements
Benefits Paid
Curtailments --
(18,896) --
Settlements - -
Present value of obligation at the end of the year
Curtailments
Settlements 3,55,994
-- 1,99,243
--
Present value of obligation at the end of the year 3,55,994 1,99,243
Settlements
Present value of obligation at the end of the year -
3,55,994 -
1,99,243
Present value of obligation at the end of the year 3,55,994 1,99,243
(iii) Reconciliation of fair value of plan
(iii) assets
Reconciliation of fair value of plan 31st March, 2017 31st March, 2016
:
(iii) Reconciliation 31st March, 2017 31st March, 2016
assets : of fair value of plan
31st March, 2017 31st March, 2016
94
Fair value
assets : of
(iii) Reconciliation plan of assets at the
fair value of plan
Fair value of plan assets at the 31st March, st
beginning
assets
Fair : of
value of
the year
of plan
the yearassets at the - 2017 31 March, - 2016
beginning - -
Expected return on plan assets
 Current Service Cost 1,70,136 1,52,796
Current Cost
Interest Service Cost 1,70,136
22,745 1,52,796
6,112
Interest Cost
Actuarial (gain)/loss 22,745
(17,234) 6,112
40,335
Actuarial (gain)/loss
Benefits Paid (17,234)
(18,896) 40,335
-
Benefits Paid
Curtailments (18,896)
- --
ANNUAL
Curtailments
Settlements -- REPORT
--
2016-2017
Settlements
Present value of obligation at the end of the year -
3,55,994 -
1,99,243
Present value of obligation at the end of the year 3,55,994 1,99,243
(In Rupees)
(iii) Reconciliation of fair value of plan
(iii) Reconciliation of fair value of plan 31st March, 2017 31st March, 2016
assets : 31st March, 2017 31st March, 2016
assets :
Fair value of plan assets at the
Fair value of plan
beginning assets at the
the year - -
beginning of the year
Expected return on plan assets - -
Expected return on plan assets - -
Actuarial gain/(loss) -- --
Actuarial gain/(loss)
Contributions -- --
Contributions
Benefits paid -- --
Benefits paid
Assets distributed on settlement -- --
Assets distributed on settlement
Fair value of plan assets at the end of the year -- --
Fair value of plan assets at the end of the year - -

(In Rupees)
(iv) Net (Asset)/Liability recognized
(iv) Net (Asset)/Liability 31st March,2017 31st March,
2016
in the Balance Sheetrecognized
as at year end: 31st March, 31st March,
31 March, 2017 31 March, 2016
in the Balance Sheet as at year end:
Present value of obligation 3,55,994 1,99,243
Present value
Fair value of obligation
of plan assets 3,55,994
- 1,99,243
-
Fair
Net present value ofassets
value of plan unfunded obligation - -
Net present value
recognized of unfunded obligation
as (asset)/liability in the Balance Sheet (3,55,994) 1,99,243
recognized as (asset)/liability in the Balance Sheet (3,55,994) 1,99,243

(In Rupees)

(v) Expenses recognized in the

(v) Expenses recognized in Loss:
the 31st March, 2017 31st March, 2016
Statement of Profit and
31st March, 2017 31st March, 2016
Statement of Profit
Current Service Cost and Loss: 1,70,136 1,52,796
Current Cost
Interest Service Cost 1,70,136
22,745 1,52,796
6,112
Interest Cost
Expected return on plan assets 22,745
- 6,112
-
Expected(gain)
Actuarial return/loss
on plan assets in the
recognized - -
Actuarial (gain) /loss recognized in the
period (17,234) 40,335
period (17,234) 40,335
Past Service Cost - -
Past Servicecost
Curtailment Cost -- --
Curtailment cost
Settlement cost -- --
Settlement
Total cost recognized in the
expenses - -
Total expenses recognized in the 1,75,647 1,99,243
Statement of Profit and Loss
1,75,647 1,99,243
Statement of Profit and Loss

In case of the Subsidiary Company – INKEL-EKK ROADS PRIVATE LIMITED

During the period, Company has made contributions to INKEL Employees Gratuity Fund Scheme constituted
by the Holding Company for the benefit of employees of its Group Companies.

95
 i. MIV Logistics Private Limited Associate
ended 31.03.2017 Company
ended 31.03.2016

ii. after
Profit Seguro-INKEL
tax for the yearConsortium LLP
as per Statement Jointly Controlled
of Profit and Loss (In Rs.) (1,18,60,399) Entity
4,22,14,402
iii. Seguro
Weighted Foundations
average and Structurals
number of equity Private Limited Enterprise having substantial interest in the Jointly Controlled
shares of Rs.10/-(Rs.10/-)
16,30,27,000 16,30,27,000
each (fully paid up)
ANNUAL
iv. KSIDC
Basic Limited
and Diluted Earnings Per Equity Share- In Rs. REPORT
Enterprise having substantial interest in the Subsidiary Comp
(Face Value of Share- Rs.10 each) KSIDC Projects Limited
(0.07) 0.26 2016-2017
v. Kinfra Limited Enterprise having substantial interest in the Subsidiary Comp
Note -2.32 KINFRA Infrastructure Projects Limited
Disclosure of transactions with Related Parties as required by Accounting Standard – 18 on Related Party
vi. EKK Infrastructure
Disclosures as prescribedPrivate
by Companies Enterprise
Limited (Accounting Standards) Rules,having substantial interest in the Subsidiary Comp
2006.
EKK Roads Private Limited
A. Related parties and nature of relationship
vii. KSIE Limited Enterprise having substantial interest in the Subsidiary Comp
i. MIV Logistics Private Limited Trade Centre Limited
Associate Company
ii. Seguro-INKEL Consortium LLP Jointly Controlled Entity
viii. Key Managerial Personnel
iii. Seguro Foundations and Structurals Private Limited Enterprise having substantial interest in the Jointly Controlled Entity
Mr. T Balakrishnan Managing Director of the company
iv. KSIDC Limited Enterprise having substantial interest in the Subsidiary Company - INKEL-
KSIDC Projects Limited
v. Kinfra Limited Enterprise having substantial interest in the Subsidiary Company - INKEL-
KINFRA Infrastructure Projects Limited

vi. EKK Infrastructure Private Limited Enterprise having substantial interest in the Subsidiary Company - INKEL-
EKK Roads Private Limited

vii. KSIE Limited Enterprise having substantial interest in the Subsidiary Company - INKES
Trade Centre Limited

viii. Key Managerial Personnel

Mr. T Balakrishnan Managing Director of the company

B. Description of Transactions (In Rupees)

Subsidiary/
Associate/ Key Managerial
Nature of Transaction Total
Jointly Controlled Personnel
Entity
Income
1. Project Management Services
MIV Logistics Private Limited 23,33,210 - 23,33,210
Subsidiary/
Associate/ Key Managerial
(7,49,012) - (7,49,012)
Nature of Transaction Total
Jointly Controlled Personnel
Entity
Seguro - INKEL Consortium LLP 35,97,687 - 35,97,687
Income
(1,07,05,014) - (1,07,05,014)
1. Project Management Services
b. Gurantee
MIV Logistics Commission
Private Limited Received 23,33,210 - 23,33,210
Seguro - INKEL Consortium LLP (7,49,012) 22,01,165
- (7,49,012)- 22,01,165
Seguro - INKEL Consortium LLP 35,97,687 (13,73,031)
- 35,97,687- (13,73,031)
(1,07,05,014) - (1,07,05,014)
2. Interest income from Loans/Debentures
b. Gurantee Commission Received
Seguro-INKEL Consortium LLP 1,67,86,340 - 1,67,86,340
Seguro - INKEL Consortium LLP 22,01,165 - 22,01,165
(13,73,031) (1,65,92,296)
- -
(13,73,031) (1,65,92,296)
2.
3. Interest income
Faciltiy from Loans/Debentures
Management Services
Seguro-INKEL Consortium LLP 1,67,86,340 - 1,67,86,340-
MIV Logistics Pvt Limited 10,11,167 10,11,167
(1,65,92,296) - (1,65,92,296)
(-) (-) (-)
3. Faciltiy Management Services
Expense
-
1. MIV Logistics Pvt Limited 10,11,167 10,11,167
96
Remuneration to Managing Director - 50,58,739 50,58,739
(-) (-) (-)
Expense (-) (36,19,781) (36,19,781)
2. Interest income from Loans/Debentures
Seguro-INKEL Consortium LLP 1,67,86,340 - 1,67,86,340
(1,65,92,296) - (1,65,92,296)
ANNUAL
3. Faciltiy Management Services REPORT
- 2016-2017
MIV Logistics Pvt Limited 10,11,167 10,11,167
(-) (-) (-)
Expense
1. Remuneration to Managing Director - 50,58,739 50,58,739
(-) (36,19,781) (36,19,781)
2. Sub Contract Expenses
Seguro-INKEL Consortium LLP 24,67,64,328 - 24,67,64,328
(38,02,83,000) - (38,02,83,000)
3. EPC Contract Expenses
EKK Infrastructure Private Limited 33,64,22,588 - 33,64,22,588
(-) (-) (-)
4. Sitting Fees - 2,41,500 2,41,500
(-) (-) (-)
Loans and Advances
1. Seguro-INKEL Consortium LLP
- Loan/Advances given 3,75,00,000 - 3,75,00,000
(6,64,25,790) - (6,64,25,790)
- Loan/Advances recovered 6,86,14,858 - 6,86,14,858
(13,93,45,137) - (13,93,45,137)
2. KSIE Limited
- Loan/Advances given 35,00,000 - 35,00,000
(35,00,000) - (35,00,000)
Investments
1. MIV Logistics Private Limited 16,00,00,000 - 16,00,00,000
(being preference shares) (16,00,00,000) - (16,00,00,000)

Guarantee given
1. MIV Logistics Private Limited 23,20,09,630 - 23,20,09,630
(23,19,74,071) - (23,19,74,071)
2. Seguro-INKEL Consortium LLP 57,50,00,000 - 57,50,00,000
(24,00,00,000) - (24,00,00,000)
Receivables
1. MIV Logistics Private Limited 90,66,462 - 90,66,462
(58,35,872) - (58,35,872)
2. Seguro-INKEL Consortium LLP 11,01,30,055 - 11,01,30,055
(14,27,22,458) - (14,27,22,458)
3. KSIDC Limited 42,39,237 - 42,39,237
(42,39,237) - (42,39,237)
4. KINFRA Ltd 1,44,000 - 1,44,000
(1,44,000) - (1,44,000)
5. Seguro Foundations and Structures Private Limited
(Mobilisation Advance) 97 2,61,64,331 - 2,61,64,331
 1. MIV Logistics Private Limited 90,66,462 - 90,66,462
(58,35,872) - (58,35,872)
2. Seguro-INKEL Consortium LLP 11,01,30,055 - 11,01,30,055
(14,27,22,458) - ANNUAL
(14,27,22,458)
REPORT
3. KSIDC Limited 42,39,237 - 2016-2017
42,39,237
(42,39,237) - (42,39,237)
4. KINFRA Ltd 1,44,000 - 1,44,000
(1,44,000) - (1,44,000)
5. Seguro Foundations and Structures Private Limited
(Mobilisation Advance) 2,61,64,331 - 2,61,64,331
(2,81,56,624) - (2,81,56,624)
Payables
1. Seguro Foundations and Structures Private Limited
2,99,50,056 - 2,99,50,056
(2,66,99,496) - (2,66,99,496)
2. EKK Infrastructure Private Limited 9,02,59,868 - 9,02,59,868
- - -
3. KSIE Limited (Payable against lease premium) 2,75,38,500 - 2,75,38,500
- - -

2.32.1.Transactions in the nature of current account transactions have not been included in the above
disclosure.

2.32.2.Transactions with the Jointly Controlled Entity and Associate Company are prior to elimination

Note
- 2.33 Particulars As at 31.03.2017 As at 31.03.2016
In case of the company and its subsidiaries and its jointly controlled entity:
TheI. Incompanies
case of theare engaged in providing infrastructure facilities and other services in connection with
Company
infrastructure
a) Corporateprojects
guaranteeincluding construction.
issued in favour of - In the opinion of the management, this is the only primary
reportable - MIV Logistics Private Limited of Accounting Standard-17 notified by
segment within the meaning the Companies (Accounting
23,20,09,630 23,19,74,071
Standards)Rules,2006.
- Seguro-INKEL Consortium LLP 57,50,00,000 24,00,00,000
Inb)case of the associate company
Claims towards Building Tax :
1,13,50,872 30,16,979
The company has during the year a single segment namely “LOGISTICS”. Therefore the company’s businss
does not fall under different segments as defined by AS-17 “Segmental Reporting “issued by ICAI.
II. In case of the subsidiary company INKEL-KSIDC Project Limited
Note
- 2.34.1
Ina)caseInterest
of theonsubsidiary
unpaid lease premium INKES
company payableTrade
by the subsidiary
Centre Limited: 8,05,00,000 8,05,00,000
company INKEL-KSIDC Project Limited to KSIDC
The company has entered agreement with KSIE Ltd for developing of land at Thampanoor and lease premium
is amortised during the period under review.

III. In case ofexpense
Preoperative the subsidiary
incurredcompany INKEL-EKK
will be allocated Roads
to the Private
assets Limited
at the time of capitalization.
a) Bank Guarantee issued by State Bank of Travancore valid from
Note
- 2.34.2
25/07/2016 to 24/07/2018 in favour of Road Infrastructure
In case of the Kerala
Company subsidiary
Ltd company INKEL-KINFRA Infrastructure Projects6,45,00,000 Limited: -
The company has entered agreement with KINFRA as per Govt. Order No.1176/2009/ID dt 31-08-09 for
developing
IV. In caseofof3.37 acrescontrolled
the jointly of land at entity
Vellayil and 85 acres at
SEGURO-INKEL Ramanattukara
Consortium LLP under long term lease for 90 years.
Pending execution of the agreements till date no lease premium is amortised during the period under review.
a) Guarantees
6,20,00,000 -
Note
- 2.34.3
In case of the jointly controlled entity SEGURO-INKEL Consortium LLP:
As per the supplementary LLP agreement dated 24-06-2016 entered between the partners, the Profit sharing
As at 31st
ratio is changed with retrospective effect from 01-04-2016. The new Profit Sharing
Particulars AmountRatio
(Rs)is Seguro Foundation
March 2017
& Structures Private Limited – 50% (55%) and INKEL Limited 50% (45%).
Consideration Paid
- 8,16,00,000

Nominal value of share capital held by INKEL Limited 98 in
INKEL-EKK Roads Private Limted -
8,16,00,000
 company INKEL-KSIDC Project Limited to KSIDC 8,05,00,000 8,05,00,000
- - -
3. KSIE Limited (Payable against lease premium) 2,75,38,500 - 2,75,38,500
III. In case of the subsidiary company INKEL-EKK Roads Private Limited
a) Bank Guarantee issued by State Bank of Travancore valid from - - -
25/07/2016 to 24/07/2018 in favour of Road Infrastructure ANNUAL
Company Kerala Ltd 6,45,00,000 - REPORT
IV. In case of the jointly controlled entity SEGURO-INKEL Consortium LLP
2016-2017
a) Guarantees 6,20,00,000 -
Note - 2.35 Contingent Liabilities not provided for : (In Rupees)
Particulars As at 31.03.2017 As at 31.03.2016
Particulars As at 31st
Amount (Rs)
March 2017
I. In case of
Consideration the
Paid Company - 8,16,00,000
a) Corporate
Nominal value of guarantee issued
share capital held in favour
by INKEL ofin-
Limited
INKEL-EKK
- MIV Roads Private Private
Logistics Limted Limited - 23,19,74,071
8,16,00,000 23,20,09,630
Share of- INKEL
Seguro-INKEL Consortium
Limited in the accumulated LLP
losses as on the date of 24,00,00,000
acquisition
57,50,00,000
-
(3,34,381)
b) Claims towards Goodwill
Buildingon Tax
consolidation 1,13,50,872 30,16,979
3,34,381

Capital Commitments
II. In case of the subsidiary As atLimited
company INKEL-KSIDC Project 31.03.2017 As at 31.03.2016

a) Interest
Estimated on unpaid
amount lease
of contracts premium
remaining to be payable bycapital
executed on the subsidiary
company
account INKEL-KSIDC
and not provided for Project Limited to KSIDC 8,05,00,000 8,05,00,000
65,10,446 3,27,92,689

III. In case of the subsidiary company INKEL-EKK Roads Private Limited

a) Bank Guarantee issued by State Bank of Travancore
For the year valid
endedfrom For the year ended
Particulars
25/07/2016 to 24/07/2018 in favour of Road Infrastructure
31.03.2017 31.03.2016
YearCompany
to which dividend
Keralarelates
Ltd Financial year 2015-16 Financial year 2014-15
6,45,00,000 -
Amount remitted during the year 88,00,000 66,00,000
IV. In case of the jointly controlled entity SEGURO-INKEL Consortium LLP
Number of non resident shareholders 4 4
a) Guarantees
Number of shares on which dividend was due 2,20,00,000 6,20,00,000
22,000 -

Note No 2.36 Additional information as required by paragraph 2 of the General instructions for
Preparation of Consolidated Financial Statements to Schedule III to the Companies Act,2013.
Particulars Amount (Rs)
As at 31st
(In Rupees)
March 2017
Consideration Paid As at 31.03.2017 As
- at 31.03.2016
Net Assets, ie Total Assets - Total liabilities Net Assets, ie Total Assets 8,16,00,000
- Total liabilities
Nominal value ofofshare
Name capital held by
the entity INKEL AsLimited
a % of in As a % of
Amount Amount
INKEL-EKK Roads Private Limted consolidated consolidated
net assets
(In Rupees)
8,16,00,000
net assets (In Rupees) -
Share of INKEL Limited in the accumulated losses as on the date of
Parent Company 81.31% 1,46,32,75,613 87.91% 1,53,19,63,548
acquisition
Subsidiaries: (3,34,381) -
INKEL-KSIDC Projects Limited Goodwill on consolidation
5.45% 9,80,35,613 7.04% 12,27,46,943
INKEL-KINFRA Infrastructure Projects Limited -0.59% (1,06,04,221) -0.60%
3,34,381
(1,03,75,554)
INKES Trade Centre Ltd 1.87% 3,35,78,546 1.96% 3,40,98,923
INKEL-EKK Roads Private Limited 4.50% 8,09,33,211 - -
Capital Commitments As at 31.03.2017 As at 31.03.2016
Jointly Controlled Entity:
SEGURO-INKEL Consortium LLP 0.58% 1,04,91,773 0.54% 93,87,675
Estimated amount of contracts
INKEL-EKK Roads Private Limited
remaining to be executed
-
on capital - -0.01% (1,70,259.00)
account and not provided for
Associate Company:
65,10,446 3,27,92,689
Equity Investment in MIV Logistics Private Limited 11,82,97,140 11,82,97,140
Less: Share of Loss (11,82,97,140) (11,82,97,140)
- - - -

Minority Interest 6.89% 12,39,17,005 3.16% 5,50,22,839

For the year ended For the year ended
Total Particulars 100.00% 1,79,96,27,539 100.00% 1,74,26,74,115
31.03.2017 31.03.2016
Year to which dividend relates Financial year 2015-16 Financial year 2014-15
Amount remitted during the year 88,00,000 66,00,000
99
For the year ended 31.03.2017 For the year ended 31.03.2016
Share in Profit or (Loss)
Number of non resident shareholders
Name of the entity
4Share in Profit or (Loss) 4
As a % of As a % of
Amount Amount
Associate Company: - -
Equity
3. Investment in MIV(Payable
KSIE Limited Logistics Private Limited
against lease premium) -
11,82,97,140
2,75,38,500 - -
11,82,97,140
Less: Share of Loss (11,82,97,140)
- 2,75,38,500
(11,82,97,140)
- - - - - - -
Minority Interest 6.89% 12,39,17,005 3.16% 5,50,22,839
ANNUAL
Total 100.00% 1,79,96,27,539 100.00% REPORT
1,74,26,74,115
2016-2017
Particulars As at 31.03.2017 As at 31.03.2016
For the year ended 31.03.2017 For the year ended 31.03.2016
I. In case of the Company Particulars Share in Profit or (Loss) As at 31.03.2017 As ator31.03.2016
Share in Profit (Loss)
Name of the entity
a) Corporate guarantee issued in favour of - As a % of As a % of
Amount Amount
I. In case consolidated consolidated
- MIVof the Company
Logistics Private Limited Profit/(Loss)
(In Rupees)
23,20,09,630
Profit/(Loss)
(In Rupees)
23,19,74,071
a) Corporate guarantee issued in favour of -
- Seguro-INKEL Consortium LLP 57,50,00,000 24,00,00,000
- MIV Logistics Private Limited
Parent Company -316.23% 6,78,21,281 400.78%
23,20,09,630 23,19,74,071
12,61,45,874
b) Claims towards Building Tax
Subsidiaries:
1,13,50,872 30,16,979
- Seguro-INKEL Consortium LLP
INKEL-KSIDC Projects Limited 177.31% (3,80,27,263) 57,50,00,000
-47.25% 24,00,00,000
(1,48,70,895)
INKEL-KINFRA Infrastructure
b) Claims towards Projects
Building TaxLimited 1.07% (2,28,667) -14.60% (45,95,245)
1,13,50,872 30,16,979
INKES Trade Centre Ltd 2.43% (5,20,377) -20.22% (63,64,158)
II. In case of the subsidiary company INKEL-KSIDC Project Limited
INKEL-EKK Roads Private Limited 214.37% (4,59,74,409) - -
a) Interest on unpaid lease premium payable by the subsidiary
II. In Controlled
Jointly case of the subsidiary company INKEL-KSIDC Project Limited
Entity: 8,05,00,000 8,05,00,000
company INKEL-KSIDC Project Limited to KSIDC
SEGURO-INKEL Consortium LLP
a) Interest on unpaid lease premium payable by -23.64%the subsidiary 50,69,037 18.90% 59,47,407
INKEL-EKK Roads Private Limited - - -0.64%
8,05,00,000 (2,00,259)
8,05,00,000
company INKEL-KSIDC Project Limited to KSIDC
III. In case
Associate of the subsidiary company INKEL-EKK Roads Private Limited
Company:
MIV Logistics Private Limited - - -202.85% (6,38,48,322)
a)
III. Bank
Minority
In case Guarantee
Interest issued by
of the subsidiary State Bank
company of Travancore
INKEL-EKK 44.70% valid from
Roads Private (95,86,177)
Limited -34.12% (1,07,38,973)
25/07/2016 to 24/07/2018 in favour of Road Infrastructure
a) Company
Bank Guarantee
Total Kerala issued
Ltd by State Bank of Travancore
100.00% valid from
(2,14,46,575) 100.00%
6,45,00,000 3,14,75,429
-
25/07/2016 to 24/07/2018 in favour of Road Infrastructure
IV. In case of the
Company jointly
Kerala controlled entity SEGURO-INKEL Consortium LLP
Ltd 6,45,00,000 -
Note 2.37
a) Guarantees
IV. In case of the jointly controlled entity SEGURO-INKEL Consortium LLP 6,20,00,000 -
Computation of goodwill arising on consolidation of new Subsidiary Company: INKEL EKK Roads
Private Limited
a) Guarantees 6,20,00,000 -
(In Rupees)
Particulars As at 31st
Amount (Rs)
March 2017
Consideration Paid Particulars - As at 31st
Amount (Rs) 8,16,00,000
March 2017
Nominal value of share capital held by INKEL Limited in
Consideration Paid - 8,16,00,000
INKEL-EKK Roads Private Limted -
Nominal value of share capital held by INKEL Limited in 8,16,00,000
Share of INKEL
INKEL-EKK Limited
Roads in the
Private accumulated losses as on the date of
Limted
8,16,00,000 -
acquisition (3,34,381) -
Share of INKEL Limited Goodwill
in the accumulated losses as on the date of
on consolidation
acquisition 3,34,381
-
(3,34,381)
Goodwill on consolidation 3,34,381
Note - 2.38 Capital Commitments As at 31.03.2017 As at(In
31.03.2016
Rupees)
Capital Commitments
Estimated amount of contracts remaining to be executed on capital As at 31.03.2017 As at 31.03.2016
account and not provided for
Estimated amount of contracts remaining to be executed on capital 65,10,446 3,27,92,689
account and not provided for
65,10,446 3,27,92,689

For the year ended For the year ended

Particulars
31.03.2017 31.03.2016
Year to which dividendParticulars
relates For the year ended For theyear
Financial year 2015-16 Financial year2014-15
ended
31.03.2017 31.03.2016
Amount remitted
Year to which during relates
dividend the year Financial year88,00,000
2015-16 Financial year66,00,000
2014-15
Number of non resident shareholders 4 4
Amount remitted during the year 88,00,000 66,00,000
Number of shares on which dividend was due 2,20,00,000 22,000
Number of non resident shareholders 4 4
Number of shares on which dividend was due
100 2,20,00,000 22,000
 Capital Commitments As at 31.03.2017 As at 31.03.2016

Estimated amount of contracts remaining to be executed on capital

account and not provided for
ANNUAL
65,10,446 REPORT
3,27,92,689
2016-2017

Note - 2.39 Dividend Remittances in foreign currency:-

(In Rupees)
For the year ended For the year ended
Particulars
31.03.2017 31.03.2016
Year to which dividend relates Financial year 2015-16 Financial year 2014-15
Amount remitted during the year 88,00,000 66,00,000
Number of non resident shareholders 4 4
Number of shares on which dividend was due 2,20,00,000 22,000

Note - 2.40
Figures have been rounded off to the nearest rupee. Previous year figures unless otherwise stated are given
within brackets and have been regrouped and recast wherever necessary.

Note - 2.41
In case of the subsidiary comapany INKEL EKK Roads Private Limited, this being the first set of financialAs at 31.03.20
As at 31.03.2017
statements of the Company, previous period’s figures and comparative information are not available.
Net Assets, ie Total Assets - Total liabilities Net Assets, ie Total Assets -

Name of the entity As a % of As a % of
Amount
consolidated consolidated
(In Rupees) net assets (I
net assets
For and on behalf of the Board of Directors As per our separate report of even date attached

T. Parent Company
Balakrishnan, Managing Director M.M. Abdul Basheer, 81.31% Director 1,46,32,75,613 87.91%
For Varma & Varma 1,
Subsidiaries:
DIN: 00052922 DIN: 00120916 Chartered Accountants
INKEL-KSIDC Projects Limited
5.45% 9,80,35,613 Firm No.004532S 7.04%
INKEL-KINFRA Infrastructure
Projects Limited -0.59% (1,06,04,221) -0.60%
K.INKES Trade Centre Ltd
Padmadasan, 1.87%
George Raphael, 3,35,78,546
Vijay Narayan Govind 1.96%
INKEL-EKK
Company Roads Private Limited
Secretary Chief Financial4.50%
Officer 8,09,33,211 (Partner) -
Membership No.203094
Place : Kochi
Jointly Controlled Entity:
Date : 23.06.2017 Consortium LLP
SEGURO-INKEL 0.58% 1,04,91,773 0.54%
INKEL-EKK Roads Private Limited - - -0.01%

Associate Company:
Equity Investment in MIV Logistics Private Limited 11,82,97,140
Less: Share of Loss (11,82,97,140) (
- - -

Minority Interest 6.89% 12,39,17,005 3.16%

Total 100.00% 1,79,96,27,539 100.00% 1,

For the year ended 31.03.2017 For the year ended 31

Share in Profit or (Loss) Share in Profit or
Name of the entity As a % of As a % of
Amount
consolidated consolidated
(In Rupees) (I
Profit/(Loss) Profit/(Loss)

Parent Company -316.23% 6,78,21,281 400.78% 1

Subsidiaries:

101
INKEL-KSIDC Projects Limited 177.31% (3,80,27,263) -47.25%
INKEL-KINFRA Infrastructure Projects Limited 1.07% (2,28,667) -14.60%
INKES Trade Centre Ltd 2.43% (5,20,377) -20.22%
 ANNUAL
REPORT
2016-2017

Route Map
Venue of 10th Annual General Meeting
Grand Hotel
Jose Junction, MG Road, Kochi-682011

Distance From:
1. Ernakulam South Railway Station - 0.8 Km
2. Ernakulam Town Railway Station - 3.4 Km
3. Ernakulam KSRTC Bus Stand - 1.3 Km
4. Cochin International Airport - 29.2 Km

102
 ANNUAL
REPORT
2016-2017

ATTENDANCE SLIP
(Please complete this attendance slip and hand over at the entrance of the Meeting hall)

CIN: U45209KL2007PLC020471
Door No. 7/473 ZA-5&6, 2nd Floor, Ajiyal Complex, Kakkanad, Cochin, Ernakulum - 682030
Ph : 0484 6491138, Fax : 0484 2978102

I hereby record my presence at the Tenth Annual General Meeting of INKEL Limited to be
held on Friday, the 25th August 2017 at 10.30 am at Grand Hotel, Jos Junction, MG Road, Cochin.

Full name of the Member :

Folio No. : No. of shares :

Name of Proxy :

Member’s/Proxy’s Signature :

103
 ANNUAL
REPORT
2016-2017

PROXY FORM
[Pursuant to section 105(6) of the Companies Act, 2013 and rule 19(3) of the Companies (Management and
Administration) Rules, 2014]
CIN: U45209KL2007PLC020471
Door No. 7/473 ZA-5&6, 2nd Floor, Ajiyal Complex, Kakkanad, Cochin, Ernakulum - 682030
Ph : 0484 6491138, Fax : 0484 2978102

Name of the member (s):

Registered address:

I/We, being the member (s) of …………. shares of the above named company, hereby appoint:

1)____________________of______________ having e-mail id_________________________ or failing him

2) ___________________ of______________ having e-mail id_________________________ or failing him

3) ____________________of______________having e-mail id_________________________ or failing him

and whose signature(s) are appended below as my/our proxy to attend and vote (on a poll) for me/us and on
my/our behalf at the at the Annual General Meeting of INKEL Limited to be held on Friday, the 25th August
2017 at 10.30 am at Grand Hotel, Jos Junction, MG Road, Cochin and at any adjournment thereof in respect
of such resolutions as indicated in the notice.

Signed this…… day of……………… _________________

Signature of Shareholder

______________________ ______________________ ____________

Signature of first Proxy holder signature of second proxy holder signature of third proxy holder

Note: This form of proxy in order to be effective should be duly completed and deposited at the
Registered Office of the Company, not less than 48 hours before the commencement of the Meeting.

104