| Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory | The Company has not received any memorandum (as required to be filed by suppliers with the notified authority under the Micro, Small and Medium Enterprise Development Act, 2006) claiming their status as on 31st March, 2014 as micro, small or medium enterprise. Consequently the amount paid / payable to these parties during the year is nil (As at 31st March 2013: Nil). |
| Segment Reporting | | | | The Company is primarily engaged in a single business segment of own, build, develop, design, operate, transfer road and related services. All the activities of the Company revolve around the main business. As such there are no separate reportable segments as per Accounting Standard -17 “Segment Reporting” notified by the Central Government under the Companies (Accounting Standards) Rules, 2006. | The Company is brsently engaged in the business of designing, building, operating, maintaining and carrying out all other activities pertaining to road projects. As per the guidelines of respective Government Authority and the requirements of the Concession Agreements, such road projects are required to be implemented under the Built, Operate & Transfer (BOT) model by creating Special Purpose Vehicles (SPVs) so that after the concession period, the SPV can be transferred to the respective authority on an “as is where is basis”. The Company has, therefore, invested in various road projects under the aforesaid SPV model. | | These investments have been made on a long term basis with an objective to obtain return and capital apbrciation after the commencement of commercial operations of the respective Project. | | Based on a legal opinion, the Company has treated these investments as “Qualifying Asset”. As required by Accounting Standard 16 on ‘Borrowings Costs’, Accounting Standard 13 on ‘Investments’ and in accordance with the accounting concept of ‘Matching costs and revenues’, the Company has capitalised borrowing cost incurred on funds borrowed exclusively for investments in SPVs as part of the cost of investments. | Accordingly, non current investments and Other current assets includes borrowing cost of ` 66,44,76,891/- including ` 49,73,11,046/- for the year (As at 31st March 2013: ` 16,70,91,045/- including ` 16,70,91,045/- for the year) and ` 43,23,237/- (As at 31st March 2013 : ` 74,800) respectively incurred on loan borrowed for acquisition of these investments. The borrowing cost of ` 74,800/- included in Other current assets as at 31st March 2013 has been allocated to respective investment during the current year.| The brvious year’s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the brceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year. |
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Disclosure of employee benefits explanatory| Employee benefits expense | | | | | | | | (Amount in `) | | Particulars | Year ended
31st March, 2014 | Year ended 31st March 2013 | | | | | | | Salaries & Allowances | | 28,649,793 | 15,777,029 | | Contribution to Provident and Other Funds | | 1,173,171 | 557,335 | | Staff Welfare Expenses | | 46,771 | 6,469 | | | | | | | Total | 29,869,735 | 16,340,833 |
| | | | | | | | | | | | | | Disclosure pursuant to Accounting Standard (AS) 15: | | | | | | | | | | | | | Defined Contribution Plans: | | | | | | | | | | | | | | The Company provides Provident Fund benefit to all employees. Under this scheme fixed contribution is made to the Regional Provident Fund Commissioner. The Company has no legal and constructive obligation to pay further contributions if the fund does not hold sufficient assets to pay employee benefits. The Company has made contributions of ` 1,053,619/- (31st March, 2013: ` 510,081) to Regional Provident Fund Authority, which is recognised as expense in the Statement of Profit and Loss. | | | | | | | | | | Defined Benefit Plans: | | | | | | | | | | | | | | The Employees’ Gratuity scheme, Leave benefit scheme, and Sick Leave availment scheme are the Company’s defined benefit plans. During the current reporting period the Company has adopted for first time the brsent value of defined obligation and related current cost are measured using the Projected Unit Credit Method with actuarial valuation being carried out at Balance Sheet date. | | | The following tables set out the details of amount recognized in the financial statements in respect of gratuity and leave benefits which is not funded: | | | | | | | (Amount in `) | | S.No. | Particulars | Gratuity (Unfunded) | Privilege Leave Benefit (Unfunded) | Defined benefit plans
(As per actuarial valuation) | Year ended
31st March, 2014 | Year ended
31st March, 2013 | Year ended
31st March, 2014 | Year ended
31st March, 2013 | | | | | | | | | I | Change in Defined Benefit Obligations (DBO) during the year | | | | | | | Present Value of DBO at beginning of the year | 352,830 | - | 937,530 | 84,860 | | | Current Service Cost | 439,280 | 352,830 | 277,940 | 23,250 | | | Interest cost | 28,930 | - | 45,460 | - | | | Curtailment cost / (credit) | - | - | - | - | | | Settlement cost / (credit) | - | - | - | - | | | Plan amendments | - | - | - | - | | | Acquisitions | - | - | - | - | | | Actuarial Losses / (Gains) | (368,560) | - | (5,890) | 860,950 | | | Benefits Paid | - | - | (766,380) | (31,530) | | | Employee contribution | - | - | - | - | | | Other Adjustments | - | - | - | - | | | Present Value of DBO at the end of the year | 452,480 | 352,830 | 488,660 | 937,530 | | | | | | | | | II | Net assets / (liability) recognised in Balance Sheet | | | | | | | Present value of Defined Benefit Obligation | 452,480 | 352,830 | 488,660 | 937,530 | | | Fair value of plan assets | - | - | - | - | | | Funded status [Surplus/(Deficit)] | (452,480) | (352,830) | (488,660) | (937,530) | | | Unrecognized past service cost | - | - | - | - | | | Net asset/ (liability) recognised in Balance Sheet | (452,480) | (352,830) | (488,660) | (937,530) | | | Current Asset / (Liability) | (2,140) | (1,020) | (29,990) | (152,720) | | | Non Current Asset / (Liability) | (450,340) | (351,810) | (458,670) | (784,810) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | BHARAT ROAD NETWORK LIMITED | | | | | | Notes to Financial Statements | | | | | | | | | | | | | | | | | | (Amount in `) | | S.No. | Particulars | Gratuity (Unfunded) | Privilege Leave Benefit (Unfunded) | | | | | | | Defined benefit plans
(As per actuarial valuation) | Year ended
31st March, 2014 | Year ended
31st March, 2013 | Year ended
31st March, 2014 | Year ended
31st March, 2013 | | | | | | | | | III | Components of Employer Expenses | | | | | | | Current Service cost | 439,280 | 352,830 | 277,940 | 23,250 | | | Interest cost | 28,930 | - | 45,460 | - | | | Expected return on plan assets | - | - | - | - | | | Curtailment cost / (credit) | - | - | - | - | | | Settlement cost / (credit) | - | - | - | - | | | Past service cost | - | - | - | - | | | Actuarial Losses / (Gains) | (368,560) | - | (5,890) | 860,950 | | | Total expenses recognised in the Statement of Profit & Loss | 99,650 | 352,830 | 317,510 | 884,200 | | IV | Actuarial Assumptions | | | | | | | Discount Rate | 9.25% | 8.20% | 9.25% | 8.20% | | | Expected return on plan assets | NA | NA | NA | NA | | | Salary Escalation | 10.00% | 10.00% | 10.00% | 10.00% | | | Mortality | Indian Assured Lives (2006-08) | Indian Assured Lives (2006-08) | Indian Assured Lives (2006-08) | Indian Assured Lives (2006-08) | | | Retirement/ Superannuation Age | Employees: 60 yrs
Director : 65 yrs | Employees: 60 yrs
Director : 65 yrs | | | | | | | | | | | | | | | | | | | | | (Amount in `) | | S.No | Particulars | Sick Leave Benefit | Year ended
31 March, 2014 | Year ended
31 March, 2013 | | | Assets/ Liabilities | | | | | | 1 | Defined Benefit Obligation | | | 95,930 | 330,060 | | 2 | Fair Value of Plan Assets | | | - | - | | 3 | Current Asset / (Liability) | | | (12,690) | (38,780) | | 4 | Non Current Asset / (Liability) | | | (83,240) | (291,280) | | | Actuarial Assumptions | | | | | | 1 | Discount Rate | | | 9.25% | 8.20% | | 2 | Expected return on plan assets | | | NA | NA | | 3 | Salary Escalation | | | 10.00% | 10.00% | | 4 | Mortality | | | Indian Assured Lives (2006-08) | Indian Assured Lives (2006-08) | | 5 | Retirement/ Superannuation Age | Employees: 60 yrs
Director : 65 yrs |
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