S.N.KAPUR & ASSOCIATES
CHARTERED ACCOUNTANTS
HEAD OFF: M-5 GOLE MARKET, MAHANAGAR, LUCKNOW-226006
Phone Nos.(off) : 4016231 Mobile : 9839011549, 9415011673, 9839211549
Management Letter for the Financial Year 2021-22
To,
THDC India Limited,
Corporate Office,
Ganga Bhawan, Bye Pass Road
Rishikesh-249201
1. Observations on deficiencies7weaknesses on the accounting records, systems, and controls that were
examined during the audit and management's response to these together with specific recommendations
-no such deficiencies or weakness found.
2. Any identified internal control weaknesses related to the procurement process such as, over the bidding,
evaluation and contract management domains -no such weakness found.
3. Specific deficiencies and areas of weakness in systems and controls identified during the audit and
recommendation for their improvement-no such areas of weakness.
4. Elaboration of the audit qualification, if any, made in the audit report -no such qualification
5. Degree of compliance of the financial covenants in the financing agreements -THDCIL has complied
with the finance covenants in the financing agreements.
6. Communicate matters that have come to attention during the audit which might have a significant
impact on the implementation of the project -no such matters found.
7. Report of the status of the corporate governance and financial accountability action plan agreed with
THDC.
8. Adequacy of compliance with previous audit findings/recommendations in the Audit
Report/Management Letter and status of any issues which remain to be addressed and any issues which
recurred -no such observations.
9. Bring to the Management's attention any matter(s) that might have a significant impact on the
implementation of the, project or that the auditor considers necessary and pertinent -no such
observations.
10. Describe the sampling methodology followed in audit -Test Check basis.
For S.N.KAP1UR ASSOCI TES
Chartered Acc ntan s ,--
C,
a t red -
Acc Intanl<
(CA. ICHAL SI A
Partne
Membership No.: 400460
Place: Lucknow
Date: 3 it / a
S.N.KAPUR & ASSOCIATES
CHARTERED ACCOUNTANTS
HEAD OFF:M-5 GOLE MARKET, MAHANAGAR. LUCKNOW-226006
Phone Nos.(off):4016231 Mobile:9839011549,9415011673,9839211549
To,
TIHDC India Limited.
Corporate Office.
Ganga Bhawan. Bye Pass Road
Rishikesh-24920 I
Report on the Audit of the Project Financial Statements
OpinionI
We have audited the accompanying special purpose Project financial statcrents of the Vishnugad Pipalkoti
Hy,do Electric Project (VPIEP) of TIHDC financed by the International Bank for ReconstrUction and
Development (1BRD) under Credit/Loan 8078-IN and implemented by THDC India Limited. These financial
statements comprise of the Balance Sheet, Profit & Loss Account, Statement of SoUrces and Application of
Funds and notes to the financial statements, including a summary of significant accounting policies
(collectixely, referred to as the "Project Financial Statements").
In our opinion, the aforesaid special pirpose Project Financial Statements gives a trne and fair view of the
financial position of the project as at March 31,2022.receipts and disbursemenis of the Project for the Project
for the vear ended on March 3 1, 2022 and the expenditure of the prject for the year ended on March 3 1, 2022,
in accordance w ith the financial reporting provisions of Section 5.09 of the General Conditions of the World
Bank read with the Loan Agreement no. 8078-IN dated 10th Aulgust 201 l and as described in other
explanatory note no. 43 as relferred in financial statement.
Basis for Opinion
We condUcted our audit in accordance with the Standards on Auditing issued by Institute of Chartered
Accouants oF Inda (iCAf). Our responsibilities under those standards are further described in the Aditor',s
Responsibilities for tie Audit/f h f/inacia StatntHS secCion of our report. We are independent of the
implementing agency in accordance with the ICA's Code of lthics for tindertaking this assiginmeint. and me
have fulfilled our etlical responsibilities in accordance with ICAV's Code of Ethics. We believe that the audit
evidence we have obtained is sllceient and appropriate to pro de a basis for our opinion.
Emphasis of Nlatter
WAe drau attention to the follon ing maiters in the Notes to the Special Purpose P>roject Financial StatemeIIts:
a) Ilie P1ES is prepared to ass,ist I l MC India imited to meet the financial reporting reqmirements of the
årojeci's loan agreienent for Invcstnent Proect I inancial Loan Agreemient no. 8078-IN dated 10th
Alugut 201 1 in respect of preparation of the project Financial Statements in a nianner to relect the
operation. resources and expenditures related to the Project. Aa result IIese special puIrpose financial
statemeicnts may not be siitable for another p "rpose.
b) Para 6 of Note No. 43 of the Special Purpose Project Financial Staements regarding dela i uongå tn
of VPE 11 1P projeCt ox nog to facIors beyond control of company. Further. considering Ilie a hui,tlK kp i
criis of NI s I ICC. Ioard of Diictor ou the Coipany haxe approxed arranement ut o1ptlu
eoitracttortor expeditious conipletion of projects w ih finanlcial regulation.
)ur(upiioi i not niullted i w~.pe utibx= nitis,,
Responsibilities of Management and those charged with Governance for the Project Financial
Statements
The Management of the implementing agency is responsible for the preparation and fair presentation of the
Project Financial Statements in accordance with the financial reporting framework described in other
explanatory Note no. 43, to these financial statements and for such internal control as management determines
is necessary to enable the preparation of Project Financial Statements that are free from material misstatement,
whether due to fraud or error.
The management and those charged with governance are responsible for overseeing the implementing
agency's financial reporting process.
Auditor's Responsibilities for the Audit of the Project Financial Statements
Our objectives are to obtain reasonable assurance about whether the Project Financial Statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with the Standards on Auditing will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
As a part of an audit in accordance with the Standards on Auditing, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
* identify and assess the risks of material misstatement of the Project Financial Statements, whether due
to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risks of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
* obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also
responsible for expressing our opinion on whether the company has adequate internal financial controls
system in place and the operating effectiveness of such controls.
* evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by management.
* evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the Project's operations and underlying
transactions and events in a manner that achieves fair presentation in accordance with the financial
reporting provisions described in other explanatory notes on Accounts to the Project Financial
Statements.
* communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal
control that we identify during our audit.
* provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communnicate with them all relationships and o
that may reasonably be thought to bear on our independence, and wdhcre applicable, relate Y ar
Report on Other Legal and Regulatory Requirements
Further to our opinion on the Project Financial Statements we further 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 Project Financial Statements dealt with by this Report are in agreement with the books of
account;
d. The Project funds were utilized for the purposes for which they were provided;
e. Expenditures, including assets created under the Project, shown in the PFS are eligible for financing
under the Project Financing Agreements;
f. Interim Financial Report (IFR) submitted by the Project management can be relied upon to support
applications for withdrawal of the Loan, and adequate supporting documentation has been
maintained to support these claims;
g. Procurement has been carried out in,line with the agreed procedures as detailed in the Operations
Manual/Procurement Manual/ Project Implementation Plan/ Legal Agreements; and
h. The project has an adequate internal financial control system (including IT controls) and such
controls were operating effectively as at March 3 1,2022 and the Project complies with the provisions
on financial management contained in the Operations Manual/ Project Implementation Plan/
Financial Management Manual, in all material aspects.
For S.N.KAPU ASS IAT ,
Chartered Ac un ants /
0
hartered
(CA. AVICHAE N. KA
Partner --
Membership No.: 400460
UDIN: 4ot:/C,8 ~ ePO,v M
Place: Lucknow
Date: ;o II0
PFS-I
IBRD Loan no. 80780-IN THDC INDIA LIMITED- VISHNUGAD PIPALKOTI HYDROELECTRIC PROJECT(VPHEP)
STATEMENT OF SOURCES & APPLICATION OF FUNDS
REPORT FOR THE YEAR ENDED 31.3.2022
Amount in INR
Current Year Ended Previous Year Ended 31st Project to Date as at
Particulars 31st March 2022 March 2021 31st March 2022
ogpen B-l-c
Opening Balance in IBRD designated Account at Corporate Office 94,516.80 94,634.80
Opening Balance in IBRD Special Account at Project 7,30,35,060.09 3,97,73,590.96
Opening Balance in Prolect Bank Account - Counterpart 2,23,12,213.84 2,79,83,950.22
Total Opening Balance 790.7 6,78,52,175.98
Receipts:
IBR -Advances 00.00 7,16,94,00,000.00
IBRD - Direct Payments/ Special Commitments 0.00 0000 84,10,75,759.00
IBRD - Reimbursements works 39,44,78,828.00 56,70,07,035.00 1,86,16,83,374.00
IBRD - Reimbursements -consultancy 23,10,140.00 1,40,12,137.00 10,43,83,196.00
jp!ront fees/ Front End Fees 0.00 0.00 7,95,16,080.00
Interest During Construction including Accrued interest 9,25,53,180.73 13,5 7 ,0 0 ,0 6 2 .0 0 63,54,23,287.73
Repayment of loan (50,82,88,585.84) (48,67,25,690.00) (1,77,33,04,505.83)
Total Receipt of IBRD Funds (a) (1,89,46,437.11) 22,99,93,544.00 8,91,81,77,190.90
Counterpart Fundslinter unit (b) 2,17,10,46,283.28 1,47,88,66,864,16 14,88,44,76,687.21
Repayment of above loan from THDCIL own sources ( c 50,82,88,585.83 48,67,25,690.00 1,77,33,04,505.83
Total Receipts (a+b+c) 2,66,03,88,432.01 2,19,55,86,098.16 25,57,59,58,383.94
Interest Earned on IBRD Funds (if any)
Total Sources of Funds (A) 2,75,58,30,222.74 2,26,34,38,274. 14 25,57,59,58,383.94
Expenditures by Component:
Expenditures by Component - IBRD
A. Upfron fees/Front End Fees 0.00 0.00 7,95,16,080.00
B. Interest During Construction including Accrued interest 9,25,53,180.73 13,57,00,062.00 63,54,23,287.73
C. Works payments, Mobilisation and other advances 1,18,02,55,083.27 1,04,19,47,109.39 10,35,25,58,019.22
D.Interest to be received from World Bank 0.00 0.00 21,43,06,103.00
E. Consultancy Services 1,06,93,074.00 1,68,59,438.00 20,76,84,384.78
Total IBRD Expenditure (B) 1,28,35,01,338.00 1,19,45,06,609.39 11,48,94,87,874.73
Expenditure by Component - Counterpart
Land 39,15,667.00 0.00 27,56,14,935.50
Building & Civil Works Assets 33,53,25,844.42 63,000.00 2,29,25,06,557.66
Vehicles & Other Office Equipment 2,39,09,075.30 28,90,812.01 53,96,22,540.23
EDC Pending Allocation (Net) 0.00 0.00 0.00
Dam & Barrages & other CWIP (Net off capitailsation) 30,92,18,484.29 45,70,21,136.35 6,17,01,88,808.98
R&R, Afforestation & S&I 47,64,921.96 4,48,38,990.30. 1,46,23,67,219.25
Non Current Assets (Net off non current Liability) 20,18,00,204.43 2 5 ,0 4 ,9 0 ,0 3 0 .2 9 26,62,94,326.42
Current Assets (Net off Current Liabilities) and regulatory Deferral 6,03,34,651.99 (35,31,78,833.38) (8,80,52,383.57)
Account Debit balance
Depreciation _13,51,13,68395) (8,78,20,424.55) (94,57,55,621.61)
Other Assets until adjustmnet ( Working Capital Advances) 62,40,39,107.00 65,91,85,163.00 4,06,95,49,514.00
Total Counterpart Expenditure (C) 1,42,81,94,272.44 97,34,89,874.02 14,04,23,35,896.86
Total Project Expenditure D= (B+C) 2,71,16,95,610.44 2,16,79,96,483.41 25,53,18,23,771.59
Closing Balance (E=A-D) 4,41,34,612.29 9,54,41,790.73, 4,41,34,612.35
Closing Balance in IBRD designated Account at Corporate office 33,366.80 94,516.80 33,366.80
Closing Balance in special Account at Project site (IBRD) 2,95,37,838.43 7,30,35,060.09 2,95,37,838.43
Closing Balance in Project Bank Account (Counterpart) 1,45,63,406.47 2,23,12,213.84 1,45,63,406.47
Total Closing Balance 4,41,34,611.70 9,54,41,790.731 4,41,34,611.70
Notes:
1. Previous Years figures has been regrouped/Rearranged/recast wherever necessary
2. It is certified that the proceeds of the loan provided by the World Bank have been used only for the purposes for which the loan was granted, with due attention to considerations of economy and
efficiency and without regard to political or other non-economic influences or considerations.
(A lk Srivastava)
DGM (Finance-Pipal Koti)
THDC INDIA LIMITED
As per our Report of Even date Attached
For S.N. KAPUR &ASSOCIATES
Chartered A du tants '
FRN (Firm gistrfon Numbe) T h45C of :CA
(A SN Kapur -
Pa ner
Membership No. :-400460
Date:
Place:
PFS-II
THDC INDIA LIMITED- VISHNUGAD PIPALKOTI HYDROELECTRIC PROJECT(VPHEP)
IBRD Loan no. 80780-IN
RECONCILIATION OF CLAIMS TO TOTAL APPLICATION OF FUNDS
REPORT FOR THE YEAR ENDED 31.03.2022
~Particulars Schedules Current Year ended Project to date as at Project to date as at
31st March 2022 31st March 2021 31st March 2022
IBRD Funds from World Bank I 48,93,42,148.73 10,20,21,39,54800 10,69,14,81,696.73
Less: Repayment of Loan 50,82,88,585.83 1,26,50,15,920.00 1,77,33,04,505.83
Total IBRD Fund (1,89,46,437.10) 8,93,71,23,628.00 8,91,81,77,190.90
Less:
- Interest Accrued Deinae_adSpca63,627.73 3,54,56,240.00 3,55,19,867.73
-Closing Balance in Designa and Special 2,95,71,205.23 7,31,29,576.89 2,95,71,205.23
Account*
Total IBRD Fund available (A) durin(4,85,81,270.06) 8,82,85,37,811.11 8,85,30,86,117.94
Total IBRD Funded Expenditure during the 1,28,35,01,338.00 10,20,59,86,536.73 11,48,94,87,874.73
year______ _
Less:
- Ineligible expenditures certified by the
Auditors 0.00 0.00 0.00
-Expenditure not Claimed li 19,44,51,334.00 63,90,74,711.73 83,35,26,045.73
- Available Advances by World bank -59,97,71,483.00 59,97,71,483.00 0.00
- Closing Balance in Designated and Special 2,95,71,205.23 7,31,29,576.89 2,95,71,205.23
Account
Total Expenditure Claimed (B) 45,97,07,315.77 10,09,35,53,731.11 10,62,63,90,623.77
Less: Repayment of Loan _50,82,88,585.83 1,26,50,15,920.00 1,77,33,04,505.83
Net Expenditure (B3) _(4,85,81,270.06) 8,82,85,37,811.11 8,85,30,86,117.94
Note:
1, Closing Balance in designated account is considered for IBRD Designated Special Account at Project and Corporate Office.
(A K Srivastava)
DGM (Finance-Pipal Koti)
THDC INDIA LIMITED
As per our Report of Even date Attached
For S.N. KAPUR & ASSOCIATES
Chartered Accou tants -
FRN (Firm Regiration Num1ber) 0 1545C f ICAl
(Avichal SN Kapur), OA
Partner
Membership No. ;-A00460
Date:
Place:
THDC INDIA LIMITED- VISHNUGAD PIPALKOTI HYDROELECTRIC PROJECT(VPHEP)
SCHEDULE-1 OF PFS-II
Amount in (Z)
Particulars Current Year ended 31st Project to date as at Project to date as at
March 2022 31st March 2021 31st March 2022
Upfront Fees 0.00 7,95,16,080.00 7,95,16,080.00
Mobilisation Advance for Civil
works (Direct payment by 0.00 84,10,75,759.00 84,10,75,759.00
World Bank )
Advances 0.00 7,16,94,00,000.00 7,16,94,00,000.00
IBRD - Reimbursements
works 39,44,78,828.00 1,46,72,04,546.00 1,86,16,83,374.00
IBRD - Reimbursements -
consultancy 23,10,140.00 10,20,73,056.00 10,43,83,196.00
Interest including Accrued 9,25,53,180.73 54,28,70,107.00 63,54,23,287.73
Interest
Total 48,93,42,148.73 10,20,21,39,548.00 10,69,14,81,696.73
Less - Repayment of loan 50,82,88,585.83 1,26,50,15,920.00 1,77,33,04,505.83
Total (1,89,46,437.10) 8,93,71,23,628.00 8,91,81,77,190.90
Schedule II of PFS-II
Expenditure not Claimed Amount in (Z)
Particulars Current Year ended 31st Project to date as at Project to date as at
March 2022 31st March 2021 31st March 2022
Consultancy payments 37,01,962.00 46,80,972.00 83,82,934.00
Works and supplies 19,06,85,745.00 38,46,31,396.00 57,53,17,141.00
Interest 63,627.00 24,97,62,343.73 24,98,25,970.73
Total 19,44,51,334.00 63,90,74,711.73 83,35,26,045.73
Reconciliation for the year 2021-22
(Amount in INR)
IBRD
S.No. Particulars Current Year ended Project to date as at
31st March 2022 31st March 2022
A AMOUNT OF REPORTED EXPENDITURE
i Total project Expenditures as per PFS-I 2,71,16,95,610.44 25,53,18,23,771.59
ii Less: In-eligible expenditure( Counter part expenditure including Working capital 1,42,81,94,272.44 14,04,23,35,896.86
Advance)
iii Net project expenditure as per PFS (i-ui) 1,28,35,01,338.00 11,48,94,87,874.73
iv Net reimbursable from World Bank 1,28,35,01,338.00 11,48,94,87,874.73
v Reimbursable expenditures as reported in IUFR 1,28,35,01,338.00 11,48,94,87,874.73
B [DIFFERENCE (iv-v) 0.001 0.00
C AMOUNT OF WB FUNDS RECEIVED (NET OF REPAYMENT)
Total funds received from the Bank (excluding Accrued Interest) 48,92,78,521.00 10,65,59,61,829.00
Add: Expenditure not claimed during 2021-22 (net off of previous year) 19,44,51,334.00 83,35,26,045.73
Less: Advance received from World Bank (as per IUFR) -59,97,71,483.00
vi Total Utilization as per PFS 11 1,28,35,01,338.00 11,48,94,87,874.73
vii Total IBRD Fund expenditure as per the World Bank 1,28,35,01,338.00 11,48,94,87,874.73
D DIFFERENCE (vi-vii) 0.00 0.00
E EXCESS/ SHORT CLAIM, if any (B-D) 0.00 000
(A K Srivastava)
DGM (Finance-Pipal Koti)
THDC INDIA LIMITED
As per our Report of Even date Attached
For S.N. KAPUR & ASSOCIATES
Chartered Accountants
FRN (Firm Restration Numbe 00154 G.Cof ICAl
(Avi%f alSN Kapur), CA,-,
Parner
Membership No. -400460
Date: (
Place: - c 00
Total Funds from World bank
(Amount in INR)
Particulars Up to 31.03.2022
IBRD - Advances 7,16,94,00,000.00
IBRD - Direct Payments/ Special Commitments 84,10,75,759.00
IBRD - Reimbursements:
Consultancy 10,43,83,196.00
Su pply andworks 1,86,16,83,374.00
7,95,16,080.00
B.IDC 59,99,03,420.00
Total IBRD Fund Received 10,65,59,61,829.00
Accrued Int as on 31.03.2022 3,55,19,867.73
Total IBRD Fund including Accrued Interest 10,69,14,81,696.73
Less: Repayment of Loan 1,77,33,04,505.83
Net Total 8,91,81,77,190.90
NN
THDC INDIA LIMITED- VISHNUGAD PIPALKOTI HYDROELECTRIC PROJECT(VPHEP)
Amount in (Z)
Particulars Previous Year ended Project to date as at
31st March 2022 31st March 2022
Upfront Fees 0.00 7,95,16,080.00
Mobilisation Advance for Civil works (Direct payment by 0.00 84,10,75,759.00
World Bank )
Advances 0.00 7,16,94,00,000.00
IBRD - Reimbursements works 39,44,78,828.00 1,86,16,83,374.00
IBRD - Reimbursements -consultancy 23,10,140.00 10,43,83,196.00
Interest 9,24,89,553.00 63,54,23,287.73
Funds Received from World Bank 48,92,78,521.00 10,69,14,81,696.73
Less: Accrued Interest 3,55,19,867.73 3,55,19,867.73
Funds from World Bank (Net) 45,37,58,653.27 10,65,59,61,829.00
11) c
Statement of remittances to VPHEP
Statement showing Remittances of Funds from -Rishikesh during 2021-22
Amount in Rs.
1. Opening Balance as on 01-Apr-2021 94,516.80
2. Amount received (Reimbusements) from world Bank during 2021-22 39,67,88,968.00
3. Amount received other than World Bank funds for transfer to VPHEP during 2021-22 1,11,76,49,882.00
4. Fund transfer to VPHEP during 2021-22 1,45,00,000.00
5. Closing Balance as on 31-Mar-2022 (1+2+3-4) 33,366.80
Statement showing Funds received at-VPHEP during FY 2021-22
Amount in Rs.
1. Opening Balance as on 01-Apr-2021 7,30,35,060.09
2. Fund receive-d from Rishikesh during 2021-221,,40,0.0
3. Payment made during 2021-22 1,51,45,00,00000
1,55,79,97,221.66
4. Closing Balance as on 31-Mar-2022 (1+2-3) 2,95,37,838.43
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TIADC INDIA LIMITIED
VISHINLIGAD PIPALKOTI PROJECT
BALANCE SHEET AS AT 31-M.I.h-2022
N.. N.. As 0 31 -M-2022 A. .131-~ 2021 Am~t in WR
ASSETS
NornýIdnmt AS-t,
(aý P Perry. Plant and Eq,,pm,,t 2 2>10.05193r222.2 1,86.87 84,264.68
b '.p
Righl.f~A-sd. 2
ýdýý Olhe, Intangibl. A-t. 2 0
(.i C.eta[ -k-m- ,.9,... 1 14,84.63,67,899.75 13 SD,70,05,758>05
M-an-t in SÄ.idiäry C.. 0 0
jfý Fin-i.I A-set`
«) L-ns 5 1,71 37,107,75 159.48>860.83
di) Ad-d-s 6 0 1 71.37r107.75 0 1,59,48.860,83
(g) Dars é,.ol T.. A... (N.t) 7 0 0
(h) Non dnant T.. Ass.ta Not 8 0
(i) Offi., N-"d-t Asiads 9 9.10,75.56.925. 85 7,99,42.69,669.79
C-et Assta
i ':n ~~ 10 0 0
11d nond A...
ý,) T, d. R...-bl.a
(ii) C h and C-t, Eq-I-ta 4,41 01,244.9 9,53.47,273.9'
ik) L:- '3 61 75,449.40 39,12,133.1'
) Ad-n 14 72,06,389.09 56,28,022. 5
ý v Otha. 15 4,32,22 650.00 10,07,05733.39 4 57,72,650.00
(c) 2.-et T. 15.06,60,079.08
2 0 36 1- 222.151 00
dn: A-ta (N.t) ý6
(d) Other e ` A-" 7 28ý4 231.32 15.72,7 8,33
Reg.latory Def-,1 Allo-t Dolde Salen- 18 54.90 , 61 1092.89 42.20. 41.995,24
Intar U,iit A-ourts -25,57.59 25>017.14 -22.91,54 75 435,13
T.tal
EQUITY AND LIABILITIES 1,20,99,39,746.59 1,11,01,97,336.20
Ei,idty
ý,ý Eq,ny Sh... G,peal 1 0
b Other Equity 20 0
totin Eq,Ity 0 0
No ýundent Ll,billfics
Fenm-I 1-i.bdit-
S_~ - 21 0
ý1.ý bili- 22 1.46,81.705,' 35.31,79.184.28 1 5 3821100
( DIý N-
N:,mant Fi-n-I Ltabilit- 23 33,84,97,479.28 27 51,58 237.12 29 07.96.450.12
(b) In., n C-amt LMb,kr- 24 4.221ýý11:2 1.14 3,03.31.759.80
,l, Pr_ramn. 25 11,76 6 750.50 16,15,32,391.00
Curr nt Llabilltler,
(.i Finrin.i.I L,.biliti.a
ýi) B.r.e,dg. 28
f.) L... Läbikt- 27 13 38,266.00 14>30,129.OC
(ii) Trad, P,y,bles
A. Total rntstimd,dg du- f m- .,darnas. and 0 0
l -t.'p .
B, Totaý'-tstsndmg d- If Ilentons ~ than 0 0
Mill, Interpns- imdf small ~Wirdses
(iii) Offi- 28 42,20,24 007.08 42 33.62.273.08 3418015 719.08 34 94ýý41.1 1.1
ýb) Oth. Cullant O.Udes 29 87,25 406.29 96 282,00
ýý PM'ý.. s 30 26,46.77,877 90 26.84 419,605 20
(d Un-t T.. U.ahtj.. (N.t) 31 0
gulab,y D0-1 Amount C,sät Beländ, 32 0
TOTAL l s ý1 11. 1.. 1,11,111,97,336.20
S ,;.,.,n..Ad
n In-ii,1 I'i'r'urr- and Rikk 42
M-9.-t
Otf- E.pl-IM,y Not- . A- rde 43
Nota 1 to 43 form integral Part of tin, Accounts
(A K Srivastgýa)
As per our Repen of Even date Attached IDGIO (Financc-Pipal Koti)
THEiC INDIA LIMITED
For S.N. KAPUR &A GCIATýS
Chartered Account ts
FRIN (Fl" Registr jon N.inbej 05154A
(AviCh S3N Kapur), CA
Part ner
Mernbership No. :-400460
Date-
Place:'i-
THDC INDIA LIMITED
VISHNUGAD PIPALKOTI PROJECT
STATEMENT OF PROFIT & LOSS FOR THE PERIOD ENDED 31-March-2022
Amount In INR
Particulars Note No. For the Period Ended 31-Mar-2022 For the Period Ended 31-Mar-2021
INCOME
Revenue from Continuing Operations 33 0 0
Other Income 34 0 0
Deferred Revenue on account of Irrigation 0 0
Component
Less: Depreciation on Irrigation Component 2 0 0 0 0
Total Income 0 0
EXPENSES
Employee Beneits Expense 35 0 0
Finance Costs 36 12,70,19,097.65 -16.49,90,320.76
Depreciation & Amortisation 2 0 0
Generation Administration and Other Expenses 37 0 0
Provision for Bad & Doubtful Debts, CW1P and 38 0 0
Stores & Spares
Total Expenses 12,70,19,097.65 -16,49,90,320.76
Profit Before Tax and Regulatory Deferral Account -12,70,19,097.65 16,49,90,320.76
Balances
Tax Expenses
Current Tax
Income Tax 39 0 0
Deferred tax- (Asset)/ Liability 0 0
Profit For The Period before regulatory deferral -12,70,19,097.65 16,49,90,320.78
account balances
Net Movement in Regulatory Deferral Account 40 12,70,19,097.65 -16,49,90,320.76
Balance Income/ (Expense)- Net of Tax
I Profit For The Period from continuing operations 0 0
II OTHER COMPREHENSIVE INCOME
(I) Items that will not be classified to Profit or
Loss:
Re-measurements of the Defined Beneft Plans 41 0 0
Other Comprehensive Income 0 0
Earning per Equity Share (including not movement
in regulatory deferral account)
Basic () 0 0
Diluted () 0 0
Earning per Equity Share (excluding net movement
in regulatory deferral account)
Basic () 0 0
Diluted () 0 0
Significant Accounting Policies 1
Disclosures on Financial Instruments and Risk 42
Management
Other Explanatory Notes to Accounts 43
Note 1 to 43 form integral part of the Accounts
(A KSr )'
DGM (Finance-Pipal Koti)
As per our Report of Even date Attached THDC INDIA LIMITED
For SN. KAPUR ASSOCIATES
Chartered Acco tants: /
FRN (Firm Re traion I un0lr) 001545 of CAl
(Avicfal SN Kapur), CA C
Partner -
Membership No 400460
Date:
Place:p
THDC INDIA LIMITED
VISHNUGAD PIPALKOTi PROJECT
STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31-March2022
Amount In INR
PARTICULARS For the Period Ended 31-Mar.2022 For the Period Ended 31-Mar2021
A. CASH FLOW FROM OPERATING ACTIVITIES
Proit Before Exceptional items and Tao -12,70,19,097.65 16,49,90,320.76
Adjustment, ton-1,4903.6
Deprec.aton
Depreciation- Irrigaton Component
Provisons
Finarce Coos 12,70.19,97.65 -16.49, 320.76
(Probit)l Loo, o- Sale ofAss-o
Prior Period Adjustmrnts through SOCIE -
Net Moverent in Regulatory Defera) Account -t2.70.19,097.65 16.49.90320.76
B,lan,,
Tax on Net Movernnt in Regulatory Deferal -
Amount Bala
Cash Flow from Operating profit activities Before -12,70,19,097.65 16,49.90,320.76
Worlding Capital Changes
Adjustment For:-
Inventories
Trade R,eeiables (inoudng unbilled revenue) 25 50 000.T -1 05.51 900 0
Other Ae..eta-02 71.407,02 35,94,0020
Loans and Advances Current + on Current) -63,60,772,38 -25.17174.1
Minority Interest
Trade Payable and Liabilies 14,94 10 149 19 21.14 13,220.95
Provisions (Current + Non Current) -4,86,19 36780 3 29.34.77020
B,,ameNot Movement in Regulatory Deferal Account 12.70 19 097.65 22,07.21 609.64 -I 6,49'90320,76 6.98 83.531.43
Cash Flow From Operatie Actlites Before Taes 9,37,02,511.99 23,48,73,852.19
Corporate Tao
Net Cash From Operations (A) 9,37,02,511.99 23,48,73,852.19
e. CASH FLOW FROM INVESTING ACTIVITIES
Change In:-
Property. Plant & Equpment and CWIP -1.55 58,57.831.11 -1.44 87.13,930.66
Capital Advancen -1 11.28.65,609.03 -1,11.73.1259847
Net Cash Flow From Investing Activities (B) -2,66,87,23,44.14 -2,56,60,26,529.13
C. CASH FLOW FROM FINANCING ACTIVITIES
Share Captal (Including Pending Mllotment)
Borrowings- Non Current
Borrowings- Current .
Lease Liability -10 48 371.00 -163621,00
Interest and Finance Charges -12.70.19,097.65 16.49 90 32076
Grants
Lete Payment Suroharge
Dividd & Tao on Dividend 0 0
Net Cash Flow From Financing Activities I C) -12,80,67,468.65 16,33,26,699.76
D. NET CASH FLOW DURING THE YEAR (A+B+C) -2.70,30,88,396.80 2,16i,7825,977.18
E. OPENING CASH & CASH EQUIVALENTS 9,53,47,273.93 0677,57,541.18
101Cr nitAcHoomms 2,66,04,49 "B"01 2,19,5 8tt.216.16
F xod Assets Transfer in-out 2607 4 155
F. CLOSING CASH & CASH EQUIVALENTS(D+E) 4,41,01,244.0 953 47 273.93
(A K`r s:R
As per our Report of E n date Attached DGM (Fiance-Pipal Ko T
For SN. KAPUR SSOCIATES T
Chartered Acco tahts
FRN (Firm Re tion mer 501545C of IC I
(Av l SNIKapur) CA
Membership No. -400460
Date 2 I
Place: