asahi infrastructure projects ltd share price Directors report

To,

The Members,

ASAHI INFRASTRUCTURE & PROJECTS LIMITED,

Akola.

Your Directors have great pleasure in submitting their 28^th ANNUAL REPORT on the business & operations of the Company along with the Audited Balance Sheet and Profit And Loss Account, for the year ended 31^st March, 2016.

1. FINANCIAL RESULTS:

Financial Results of the Company for the year under review along with the figures for previous year are as follows:

(Amount in Rs.)

Consolidated

	Year Ended
PARTICULARS	2016	2015
Total Income	236,531,753	139,234,674
Depreciation	37,65,811	53,16,679
Profit before Taxation	15,463,442	55,72,757
Provision for Taxation	52,86,284	23,59,342
Appropriations
Profit After Tax	10,177,158	32,13,416

Standalone

PARTICULARS	Year Ended
	2016	2015
Total Income	237,222,534	139,234,674
Depreciation	37,65,811	53,16,679
Profit before Taxation	1,41,75,928	78,64,472
Provision for Taxation	49,87,024	23,59,342
Appropriations
Profit After Tax	91,88,904	55,05,130

2. OPERATIONS:

During the year Companys net profit before tax increase from Rs. 78,64,472/- (Rupees Seventy Eight lac Sixty Four Thousand Four Hundred Seventy Two Only) to Rs. 1,41,75,928/- (Rupees One Cr Fourty One lac Seventy Five Thousand Nine Hundred Twenty Eight Rs Only). Your Directors expects to achieve better performance in future and are taking maximum efforts to control the cost and optimize the results in the coming year.

3. EXPANSION PROGRAMMES:

Good news for your company is that Presently your company has concentrating on use of precast priestess flow technology one this experiment / trial is successful, your company is planning to expand its activities on major housing Affordable Housing Project in Rajasthan state & nearly areas, like company is in negotiation with related parties who has got (6) Mega housing projects in Rajasthan costing Rs. 300 Cores. Your company expect bright prospectus in coming time as newly elected govt. having full majority after 30 years, have concentrated on infrastructure sector. Not only this Ministry of Urban Development got allocation of Rs. 4000 /- crore in the current year budget to focus on especially affordable housing sector. Your company has got expertise in this segment since 26 years & now time has come to encasement its 25 years experience Due to this market conditions in affordable housing sector will boom up. The company has submitted EOI for skill development programmed under Rajasthan Skill and Livelihoods Development Corporation (Govt. of Rajasthan U/T), there by training of skill worker for 3000 students will be undertaken in next these years at Jhunjhunu, Sikar & Churu district Under this programmed company will train 5000 skilled workers in the field of masons / carpenter / plumber / electrician /bar binders which will give skilled hands to company as well can provide these skilled worker to other builders also. As we are aware that it is the mission of new Govt. to development skilled workers in country so that unskilled youth can get employment which will directory improve GDP of country.

4. FUTURE PROSPECTS:

The robustness of the Indian Economy is reflected in the fact that despite challenging headwinds, the Euro zone crisis and a substantially weaker rupee, India GDP is expected to grow by about 6.5% in 2016-17. The Companys is optimistic of growth through continued network expansion and innovation.

5. DIVIDEND:

The Company has not declared any dividend during the year.

6. SHARE CAPITAL:

There is no change in Authorized Capital and Issued Share Capital during the financial year.

7. FIXED DEPOSITS:

During the year your Company has not accepted any deposits from the public.

8. DIRECTORS:

During the year Mr. Venkatarao Karri Directors of the Company retire by rotation and being eligible has offered them for re-appointment. The members are therefore requested to re-appoint them in the forthcoming Annual General Meeting.

9. SUBSIDIARIES:

The Company has set up a subsidiary unit in Dubai for general trading activities.

10. DIRECTORS RESPONSIBILITY STATEMENT:

As required under Section 217 (2AA) of the Companies Act, 1956 the Board of Directors hereby confirms:

i. That in the preparation of the Annual Accounts, the applicable accounting standards have been followed along with the proper explanation relating to material departures.

ii. That the Directors have selected such accounting policies and applied them consistently and make 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 at the end of the financial year and of the Profit of the Company for that period.

iii. That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. That the Directors have prepared the Annual accounts on a going concern basis.

11. CORPORATE GOVERNANCE:

Pursuant to Clause 49 of the Listing Agreement with the Stock Exchange, a Management Discussion and Analysis Statement, Corporate Governance Report, CEO, CFO and Auditors Certificate regarding compliance of conditions of Corporate Governance are made a part of the Annual Report.

12. STOCK EXCHANGE REQUIREMENTS:

Being listed at the Bombay Stock Exchange Limited, Mumbai, your Company has paid listing fees till March, 2016.

13. AUDITORS:

M/s B.M. Gattani & Co., Chartered Accountants, Mumbai, Statutory Auditors of your Company hold office until the conclusion of the forthcoming Annual General Meeting and have signified their willingness to be re-appointment and have further confirmed their re-appointment if shall be made shall be within the limits specified under Section 224 (1B) of the Companies Act, 1956.

14. AUDITORS REPORT:

The notes to Auditors Report are self explanatory and hence no explanation is required from the Board as such.

15. CONSERVATION OF ENERGY:

Even though, the major activity of the Company does not involve high consumption of energy, your Company is making all efforts to optimize usage of energy.

16. TECHNOLOGY ABSORPTION:

Your Company has not imported any technology, hence no details are given.

The Company has designed and developed mechanical RC pilling machine which will reduce the piling labour cost by 60% with improved quality of construction and will help the reduction in project completion time.

17. PARTICULARS OF EMPLOYEES:

In accordance with the provision of Section 217 of the Companies Act, 1956, read with the Companies (Particulars of Employees) Amendment Rules 1999 as amended up to date, there were no employees during the whole or part of the year who were in receipt of remuneration in excess of limits as mentioned in the said section and hence no details are given as such.

18. ACKNOWLEDGEMENTS:

Your Directors take this opportunity to place on record, gratitude for corporation and support received from their Banker, various departments and agencies of Central and State Government and dedication and commitment of the staff at all levels, without which the all-round growth and prosperity of the Company would not have been possible. Your Directors also appreciate the support provided by the several overseas and local customers to the Companys marketing efforts and to the esteemed shareholders who have maintained confidence in the Company.

By the Order of the Board

Asahi Infrastructure & Projects Limited

Sd/-

L.J.Rathi

(Chairman & Managing Director)

Date: 03^th Sep, 2016

Place: Mumbai

ANNEXURE-I

Statement pursuant to Section 212 of the Companies Act, 1956:

1. Name of the Subsidiary Company: Asahi Infrastructure and Projects Limited FZE.

2. Total Issued and Paid Up Capital of Subsidiary Company:

a) Issued: 150000 AED

b) Subscribed and Paid Up: 150000 AED

3. Extent of Interest of Asahi Infrastructure and Projects Limited

4. Net aggregate amount of the Profits:

a) Post-Tax Profit: Rs. 10,177,158