Your Directors have pleasure in presenting their 11thAnnual Report on the business and operations of
the Company along with the Audited Financial Statements for the Financial Year ended on 31stMarch, 2024.
1. FINANCIAL HIGHLIGHTS OF THE COMPANY
The Company's financial performance for the year ended on 31stMarch, 2024 is summarised below:
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FINANCIAL RESULTS:
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(Amount in Lakhs)
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| |
2023-24
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2022-23
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Income:
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|
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Revenue from operations
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7756.78
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6096.10
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Other Income
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16.08
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9.50
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Total Income
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7772.86
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6105.60
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| |
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|
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Total Expenditure
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7085.23
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5900.16
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| |
|
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Profit before Tax
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687.63
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205.44
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Less: Tax Expenses
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182.41
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52.00
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| |
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Net Profit after Tax
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505.22
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153.44
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2. BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR
The Company is engaged in the main business of Engineering, Procurement and Construction along
with Infrastructure Consultancy Services. There has been no change in the business of the Company
during the financial year ended on 31stMarch, 2024. The Our Directors and Management along with
the entire team is taking all possible action to ensure that we are able to sustain our financial growth
and business operational developments in spite of all adverse external conditions and competition.
During the year, your Company’s revenue from operations has increased from Rs. 60%. 10 lakhs to
Rs. 7756.78 lakhs thereby registering a growth of 27.24 % over the previous year. The performance
and growth rate of the company is satisfactory during the year under review.
3. RESERVES
Your Directors do not propose to transfer any amount to specific reserve of the company for the
financial year ended on 31st March, 2024.
Your Directors feel that it is prudent to plough back the profits for future growth of the Company and
do not recommend any dividend for the year ended on 31st March, 2024.
5. MATERIAL CHANGES AND COMMITMENTS
There are no material changes observed, that could affect the financial position of the company,
which have occurred between end of financial year of the company to which the financial statements
relate and date of this report.
6. STATUTORY AUDITORS
The statutory auditors of the company M/s Rajvanshi & Associates, Chartered Accountants, (FRN:
005069C) has been appointed in the Extraordinary General Meeting of the Company for a period of 5
(five) years till the conclusion of Annual General Meeting to be held in 2025.
As required under the provisions of Section 139 of the Companies Act, 2013, the Company has
obtained a certificate from the above-mentioned Auditors to the effect that they confirm with the
limits specified in the said Section and that they arc not disqualified for continuing as Auditors within
the meaning of Section 141 of the said Act.
7. AUDITOR’S REPORT
There is no reservation, qualification or adverse remark contained in the Auditor’s Report attached to
Financial Statements of company as at 31s1 March 2024. Information referred in Auditor’s Report are
self-explanatory and do not call for any further comments.
The Auditors have not reported any incident of fraud in the Company for the year under review under
section 143(12) of the Companies Act, 2013.
8. EXTRACT OF THE ANNUAL RETURN
As per the provisions of the Companies (Amendment) Act, 2017 notified by the Ministry of
Corporate Affairs on 31st July, 2018 read with notification dated 20th August, 2020 amending the
provisions of section 134(3)(a) and section 92(3) of the Companies Act, 2013 respectively, further
read with the Companies (Management and Administration) Amendment Rules, 2021 substituting
the Rule 12(1) of the Companies (Management and Administration) Rules, 2014, the requirement
for preparing an extract of annual return to be made part of Board’s Report has been omitted.
Accordingly, extract of annual return in form MGT-9 is not required to be annexed to Board’s
Report. Furthermore, Company does not have any functional website for publication of Annual
Return.
9. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO
Your Company continuously strives to conserve energy, adopt environment friendly practices and
employ technology for more efficient operations.
The particulars relating to the energy conservation and technology absorption, as required under
Section 134(3) (m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014
are given in the ANNEXURE I to this Report.
10. DIRECTORS AND KEY MANAGERIAL PERSONNEL
There were no changes in the Directors and Key Managerial Personnel of the Company daring the
period under review. However, the company has appointed Mr. Sunil Singh Gangwar having DIN
10591559 as Managing Director with effect from 01.06.2024.
11. INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY
The Directors had laid down internal financial controls to be followed by the Company and such
policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its
business, including adherence to 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.
12. INDUSTRY’S STRUCTURE AND FUTURE PROSPECTS:
The core strength of the Company is stringent and successful execution of detailed project
preparation and design, its implementation and co-ordination, extensive construction supervision,
road safety audit, technical examination and assistance in road works, metro, airport, feasibility
studies, soil and sub-soil investigations. Besides, international assignment of various developmental
projects related to civil/structural engineering in foreign countries. Most of these projects are being
carried out in the joint venture or in association with multinational consultancy companies having
competency of global operations in the field.
The exponential growth phenomenon provides immense opportunities along with fierce competition
from diverse foreign and national firms resulting cutting edge cost and pricing policies.
The Company has leverage over others by having a large pool of highly talented, competent and
experienced manpower having expertise in the niche areas. As such the firm is currently engaged in
prestigious construction supervision works of National Highways, detailed design projects, etc.
The Company now poised to harness the impending opportunities and tackle the threats with its
core inner strength along with reconciling it judiciously through strategic and planned approaches by
its intrinsic valued man power, proven specialists and experts in their key-work areas.
The investment in infrastructure sector is projected to rise further with increased demand for
consultancy services by domestic and foreign firms in India. Rising opportunities due to booming
economy and growing demand for consultancy services are key factor for growth.
13. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS
During the financial year under review, the Board met 6 (SIX) times 9thJune 2023, 11th August
2023, 20th October 2023, 24th November 2023, l0thJanuary 2024 and 16th March 2024.The
intervening gap between the meetings was within the period prescribed under the Companies Act,
2013 and Secretarial Standards-1 issued by Institute of Company Secretaries of India (ICSI).
14. PARTICULARS OF EMPLOYEES
None of the employees of the Company were in receipt of remuneration exceeding the limits as
prescribed under Rules 5(2) The Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014. Therefore, particulars of the employees of the Company to be given as
required is NIL. ______
15. LOANS. GUARANTEES BY THE COMPANY
During the year under review, the Company has not given any guarantee or provided security in
connection with a loan to others.
16. DEPOSITS
During the year under review, the Company has neither invited nor accepted or renewed any deposits
within the meaning of section 73 of the Companies Act, 2013 read with the Companies (Acceptance
of Deposits) Rules, 2014.
17. RELATED PARTY TRANSACTION
All related party transactions that were entered into during the financial year ended on 31thMarch,
2024 were on an arm’s length basis and were in the ordinary course of business. Therefore, the
provisions of Section 188 of the Companies Act, 2013 were not attracted. Further, there are no
materially significant related party transactions during the year under review made by the Company
with Promoters, Directors, Key Managerial Personnel or other designated persons which may have a
potential conflict with the interest of the Company at large. Thus, disclosure in Form AOC-2 is not
required. However, the details of the transactions with Related Party are provided in Note No. 23 of
the financial statements of the Company in accordance with the Accounting Standards.
18. RISK MANAGEMENT POLICY
The Company has developed and implemented a risk management policy which encompasses
practices relating to identification, assessment monitoring and mitigation of various risks to key
business objectives. The Risk management framework of the Company seeks to minimize adverse
impact of risks on our key business objectives and enables the Company to leverage market
opportunities effectively.
19. DETAILS OF SIGNIFICANT & MATERIAL ORDERS PASSED BY THE
REGULATORS OR COURTS OR TRIBUNAL
There are no significant material orders passed by the Regulators / Courts, which would impact the
going concern status of the Company and its future operations.
20. HUMAN RESOURCES:
During the year the Company has taken utmost care of its employees deployed in wide ranging
cultures across the India. The Company has well defined Human Resource Policies, excellent
training facilities and a well established, healthy working environment. Continued focus on talent
engagement, competency development, role and career progression and benchmarked compensation
and benefits for our employees helped the Company to attract and retain the best talent across the
India as well as build a pipeline of leaders to meet its future requirements. The Company has been
successful in building a performance oriented culture with high levels of engagement and
empowerment in an environment of teamwork.
21. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK
PLACE {PREVENTION. PROHIBITION AND REDRESSAL) ACT. 2013
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of
The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act,
2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy.
The following is a summary of sexual harassment complaints received and disposed of during the
year 2023-24: -
• No. of complaints received: Nil
• No. of complaints disposed of: Nil
22. COMPLIANCE WITH SECRETARIAL STANDARDS
The Company has complied with all the applicable Secretarial Standards issued by the Institute of
Company Secretaries of India.
23. CORPORATE SOCIAL RESPONSIBILITY (CSR)
Corporate Social Responsibility is the commitment by business to perform ethically and contribute to
economic development while improving the quality of life of the workforce and their families as well
as of the local community and society at large. CSR is clearly on capacity building, empowerment of
communities, inclusive socio-economic growth, environment protection, promotion of green and
energy efficient technologies, development of backward regions, and upliftment of the marginalized
and under-privileged sections of the society.
Essentially, Corporate Social Responsibility which is deliberate inclusion of Public Interest into
corporate decision making by undertaking major project for development of a backward district has
the potential of contributing significantly in the long run to socio economic growth in the backward
regions. The emerging concept of CSR goes beyond charity and requires the company to act beyond
its legal obligations and to integrate social, environmental and ethical concerns into the company's
business process.
CSR does not emanate directly from external demands but from organizationally embedded
processes. These processes prompt the organization to view its relationships with stakeholders in a
different perspective, which in turn influences its engagement with them.
AREAS TO BE COVERED UNDER CORPORATE SOCIAL RESPONSIBILITY
Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and
making available safe drinking water (as per guidelines issued by Government of India, Ministry of
Corporate Affairs). Generally, the underprivileged and backward communities/areas where company
has its operations would be covered under the policy.
As a part of CSR strategy, the scope of CSR activities would cover the following areas:
• Education
• Health, Drinking Water/Sanitation.
• Advancement for technical & engineering development
• Environment.
• Community Development and Social Empowerment.
• Generation of employment opportunities and livelihood.
• Any other activity as may be identified by Board of Directors.
The provisions of CSR will be applicable from the financial year 2024-25. There will be CSR
Committee in our company; The Board Level Committee would be headed by Managing
Director, and other members of the committee will be as follows:-
Mr. Sunil Singh Gangwar (Managing Director) Board Level Committee Head
Mrs. Sujata Gangwar (Director) Member of committee
Mr. Devvrath Singh ( Director) Member of committee
Mrs. Sneha Singh (Manager H.R.) Member & Fund consultant of committee
Note;- The board have power to appoint other office level supporting staff for working of CSR
committee.
Role of Board Level CSR Committee:
• Formulation of policy framework and broad guidelines for selection of the projects, planning, budget
execution and monitoring.
• Supervision and coordination and implementation of CSR activities Compilation of information and
preparation of annual reports etc.
• To coordinate with various other departments/PSUs for exchange of information for promotion of CSR
and ensure harmony in activities by different agencies.
• To consider and approve the projects proposed by Office Level CSR Committee and budgetary
allocation among various projects.
• To keep up-dated about policy changes issued by the Ministry as well as other government agencies.
24. DIRECTORS
The constitution of board during the year is as follows:
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s.
No.
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Name
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Designation
|
Date of
appointment
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Date of
cessation
|
|
1.
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SUJATA GANGWAR
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Director
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31/12/2013
|
—
|
|
2.
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SATYAVRAT SINGH
|
Director
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05/01/2015
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|
|
3.
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DEVVRATH SINGH
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Director
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28/04/2016
|
—
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|
4.
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SUNIL SINGH GANGWAR
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Managing Director
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01/06/2024
|
—
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25. D1RECTORS RESPONSIBILITY STATEMENT
Pursuant to clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, your Directors
states and confirm that:
a) In the preparation of the annual accounts, the applicable accounting standards 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 at the end of the financial year and of the profit and loss of the
Company for that period.
c) The directors have taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities;
d) The directors had prepared the annual accounts on a going concern basis;
e) The directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
26. QTHER DISCLOSURES
Other Disclosures with respect to Board’s Report as required under the Companies Act, 2013 and the
rules notified there under are either NIL or NOT APPLICABLE.
27. ACKNOWLEDGEMENT
The Board of Directors places on record, its deep sense of appreciation to employees at all levels on
their hard work, dedication and commitment. The Board also thank all the shareholders, investors,
vendors, service providers, bankers and all other stakeholders for their continued and consistent
support to the Company during the year.
PLACE: JAIPUR FOR AND BEHALF OF THE BOARD OF DIRECTORS
DATE:01.08.2024 CURRENT INFRAPROJECTS PRIVATE LIMITED
Director
SUJATA GANGWAR DEVVRATH SINGH
DIRECTOR DIRECTOR
DIN:03107923 DIN: 05304737
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