Akash Infra-Projects Limited — Interim / Quarterly Report 2021

Feb 13, 2021

Ph. • +91-79-23227006 E-mail : infoaakashnfra.com

Regd. Office 2, C.F., Ahhishek Budding, Sector-11. G h Pnaga r- 382011.

C -1_452419G.119/9PLC0341003

Date: 13th February, 2021

To, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 SYMBOL: AKASH

Dear Sir,

SUB.: OUTCOME OF BOARD MEETING.

Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that the Board of Directors of the Company at their meeting held today, i.e. Saturday, February 13, 2021 have considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended on 31st December, 2020.

The Unaudited Financial Results along with Limited Review Report of the Statutory Auditors for the quarter and nine months ended on 31st December, 2020 are attached herewith.

The meeting of the Board of Directors of the Company commenced at 3.00 p.m. and concluded at 3.30 p.m.

Kindly take the same on your records.

Thanking you,

Yours faithfully, FOR AKASH INFRA-PROJECTS LIMITED

PRIYANKA MUNSHI COMPANY SECRETARY AND COMPLIANCE OFFICER

End: As above

AKASH INFRA-PROJECTS LIMITED

Regd. Office: 2, GROUND FLOOR, ASH ISHEK COMPLEX, OPP. HOTEL HAVELI, SECTOR-11, GANOHINAGAR - 382011, GUJARAT

CIN: L45209G11999PLC036003, Ph. No.: +91-79-23227006, Fax: +91-79-23231006

Website: www.akashinfra.rom, E-Mail info@akashinfra.rom

Statement of Standalone and Consolidated kin-Audited Financial Results for the Quarter and Nine month ended on December 31, 2020

Part-I	Rs. In Lakbs)Standalone
Sr.	Particulars			Consolidated
No.		Quarter Ended			Nine Month Ended		Year Ended	Quarter Ended		Nine Month Ended		Year Ended
		31.12.20	30.09.20	31.12.19	31.12.20	31.12.19	31.03.20	31.12.20	30.09.20	31.12.19	31.12.20	31.12.19	31.03.2020
	1 Income	Unaudited	Unaudited	Unaudited		Unaudited Unaudited	Audited				Unaudited Unaudited Unaudited Unaudited Unaudited		Audited
	Revenue From Operations	1,285.08	1,597.75	1,195.22	4,080.55	5,094.63	7,261.52	1,285.08	1,597.75	1,195.21	4,080.55	5,094.63	7,261.52
	Other Income	23.99	42.54	50.56	96.79	223.07	72.82	25.44	44.00	50.57	101.17	224.87	78.38
	Total Income - 1	1,309.08	1,640.29	1,245.79	4,177.34	5,317.70	7,334.35	1,310.52	1,641.75	1,245.78	4,181.72	5,319.50	7,339.90
	2 Expenses
	Cost of Material Consumed	950.93	730,83	691.18	2,543.91	3,357.08	5,018.12	950.93	730.83	691.18	2,543.91	3,357.08	5,018.12
	Purchase of Stock-In-Trade	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Changes In Inventories of Finished Goods, Stock-In-Trade and WIP	(149.93)	85.00	(35.00)	(57.93)	(110.00)	(732.00)	(149.93)	85.00	(35.00)	(57.93)	(110.001	(732.00)
	Employee Benefits Expenses	57.31	61.94	88.19	162.60	249.00	350.87	57.31	61.94	88.19	162.60	249.00	350.87
	Finance Costs	110.48	80.49	90.57	269.73	226.22	291.67	110.47	80.49	90.57	269.73	226.22	291.67
	Deprecation and Amortisation ExpenseOther Expenses	45.12	45.65	59.73	136.62	176.66	236.35	45.09	46.61	60.64	138.50	179.32	239.97
		419.31	607.16	387.59	1,203.19	1,285.50	2,091.19	419.54	607.38	387.59	1,203.87	1,286.72	2,093.78
	Total Expenses - 23 Profit / (Loss) Before Exceptional Items & Tax (1-2)	1,433.21	1,611.08	1,282.26	4,258.12		5,184.46 ,_ 7,256.19	1,43339	1,612.25	1,283.17	4,250.67	5,188.35	7,262.41
	I- 4 Exceptional Items	(124.14)	29.21	(36.47)	(80.78)	133.24	78.15	(122.88)	29.50	(37.38)	(78.95)	131.16	77.49
	5 Profit / (Loss) after Exceptional items but Before Tax (3-4)
	6 Tax Expense	(124.14)	29.21	(36.47)	(80.78)	133.24	78.15	(122.88)	29.50	(37.38)	(78.95)	131.16	77.49
	Current Tax (Net)	0.00
	Deferred Tax (Net)	(0.09)	5.40(0.07)	0.00	8.02	35.00	14.00	0.00	5.40	0.00	8.02	35.00	14.00
	Income tax of earlier years	0.00	0.00	(0.10)0.00	(0.20)	(0.43)	1.36	(0.09)	(0.07)	(0.10)	(0.20)	(0.43)	1.36
					0.00	0.00	(0.91)	0.00	0.00	0.00	0.00	0.00	(0.91)
	7 Profit / Loss For The Period (5-6)	(124.04)	23.88	(36.37)	(88.60)	98.68	63.70	(122.78)	24.17	(37.28)	(86.77)	96.59	63.04
	Share of Profit from Associae CompaniesProfit / (Loss) for the period				0.00	0.00		6.27	(0.55)	(0.05)	7.70	(4.15)	(0.83)
	9 Other Comprehensive Income (Net of Tax)	(124.04)	23.88	(36.37)	(88.60)	98.68	63.70	(116.51)	23.62	(37.34)	(79.07)	92.44	62.21
	Items that will not be reclassified to Profit & Loss
	Income tax relating to Items that will not be reclassified to Profit & loss	0.66	0.66	0.00	1.97	0.00	5.27	0.66	0.66	0.00	1.97	0.00	5.27
	items that will be reclassified to Profit & Loss	(0.10)	(0.10)	0.00	(0.31)	0.00	(0.82)	(0.10)	(0.10)	0.00	(0.31)	0.00	(0.82)
	Income tax relating to Items that will be reclassified to Profit & Loss	0.00	0.00	0.00	0.00	0.00	0.00	(0.35)	(0.26)	(1.12)	0.93	(0.83)	0.55
	10 Total Comprehensive Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	11 Net profit Attributable to:	(123.49)	24.44	(36.37)	(86.93)	98.68	68.14	(116.31)	23.91	(38.45)	(76.47)	91.60	67.20
	Owners of the Company	(124.04)	23.88	(36.37)
	Non-controlling interest	0.00	0.00	0.00	(88.60)	98.68	63.70	(116.83)	23.55	(37.11)	(79.52)	92.96	62.37
	12 Other Comprehensive Income attributable to:				0.00	0.00	0.00	0.32	0.07	(0.23)	0.46	(0.52)	(0.16)
	Owners of the Company	0.56	0.56	0.00	1.67	0.00
	Non-controlling interest	0.00	0.00	0.00	0.00	0.00	4.440.00	0.29(0.09)	0.36(0.07)	(0.84)(028)	2.36	(0.62)(0.21)	4.850.14
	13 Total Comprehensive Income attributable to:										023
	Owners of the Company	(123.49)	24.44	(36.37)	(86.93)	98.68	68.14	(116.54)	23.91	(37.95)	(77.16)	92.34	67.23
	Non-controlling interest	0.00	0.00	0.00	0.00	0.00	0.00	0.23	0.01	(0.51)	0.69	(0.73)	(0.03)
	14 Paid-Up Equity Share Capital (Face Value Of Rs. 10/- Each)	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25	1,686.25
	15 Reserves / Other Equity						5,922.23						6,192.15
	16 Earnings Per Share (of Rs. 10/- Each)
	(A) Basic	(0.73)	0.14	(0.22)	(0.52)
	(B) Diluted	(0.73)	0.14	(0.22)		0.59	0.40	(0.69)	0.14	(0.22T	(0.45)	0.55	0.40
					(0.52)	0.59	0.40	(0.69)	0.14	(0.22)	(0.45)	0.55	0.40

Notes

• The Financial Results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company in their respective meeting held on Feb 13, 2021. The auditor have carried out an Limited Review of the above said Financial Results.
• 2 The above results have been prepared in accordance with Indian Accounting Standards FIND AS'). The financial results for the quarter ended and nine month ended on 31st December, 2020 have been Compiled by the Management after making necessary adjustments to give the true and fair view of the results in accordance with IND AS. This information is subjected to Limited review.
• 3 The Company is engaged only in the business of civil constructions. Accordingly, there is no separate reportable segments as per Indian Accounting Standard 108 [Ind AS) on 'Operating Segment'.
• 4 Considering figures have been regrouped/ re-arranged wherever necessary.
• 5 Figures for the previous periods have been regrouped and reclassified to confirm to the classification of the current period, where necessary.

Place: Gandhinagar Date: 13-02-2021

/17R 0.1 ti) GANDHINAGAR

FOR AKAS NFRA-PROJECTS LIMITED YOGINKUMA HARIBHAI PATEL MANAGING D ECTOR DIN: 00463335

Rakesh Bhatt & Co. CA Rakesh Bhatt Chartered Accountants

LIMITED REVIEW REPORT

independent Auditor's Limited Review Report on Quarterlyand Year to date Unaudited Standalone Financial Resultsof the Companypursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015 (as amended)

TO THE BOARD OF DIRECTORS OF Akash Infra-Projects Limited

We have reviewed the accompanying statement of unaudited standalone financial results ofAkash Infra-Projects Limited("the Company") for the quarterand nine monthsended 31st December, 2020("the Statement") being submitted by the Company pursuant to the requirements of the Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "ListingRegulations").

This Statement, which is the responsibility of the Company's Management and approved by theBoard of Directors, has been prepared in accordance with the recognition andmeasurement principles laid down in Indian Accounting Standard 34, "Interim Financial Reporting"("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, read with relevant rulesissued thereunder, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on ourreview.

We conducted our review of the Statement in accordance with the Standard on ReviewEngagements (SRE) 2410 "Review of Interim Financial Information Performed by theindependent Auditor of the Entity", issued by the Institute of Chartered Accountants of India.This standard requires that we plan and perform the review to obtain moderateassurance as to whether the Statement is free of material misstatement.A review of interim financial information consists of making inquiries, primarily of personsresponsible for financial and accounting matters, and applying analytical and other reviewprocedures. A review is substantially less in scope than an audit conducted in accordancewith Standards on Auditing and consequently does not enable us to obtain assurance thatwe would become aware of all significant matters that might be identified in an audit.Accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us tobelieve that the accompanying statement, prepared in accordancewith the recognition and

Office at : Office No. 7C Eigth Floor Su u Centre, Paldi, Ahmedabad 38 00 07 Email address : ca_rakeshb att 0229 \ OM Mobile No.: 9825016151

CA Rakesh Bhatt & Co. CA Rakesh Bhatt Chartered Accountants

measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS'), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and otheraccounting principles generally accepted in India, has not disclosed the information required to bedisclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or thatit contains any material misstatement.

For Rakesh Bhatt & Co. Chartered Accountant

•it'

CA Rakesh Bhatt Propreitor Membership No.: 046382

Place: Gandhinagar Date: 13.02.2021 UDIN: 21046382AAAAAI1073

Office at : Office No. 7C Eigth Floor, Sumeru Centre, Paldi, Ahmedabad 38 00 07 Email address : ca_rakeshbhatt@yahoo.comMobile No.: 9825016151

CA Rakesh Bhatt & Co. CA Rakesh Bhatt Chartered Accountants

LIMITED REVIEW REPORT

Independent Auditor's Limited Review report onQuarterly and Year to date Unaudited ConsolidatedFinancial Results of the Companypursuant to the Regulation 33 of the SEBI • (ListingObligationsand Disclosure Requirements) Regulations, 2015

TO TILE BOARD OF DIRECTORS OF Akash Infra-Projects Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Resultsof Akash Infra-Projects Limited ("the Parent") and its subsidiary ("the Parent" and its subsidiary together referred to as "the Group"), and its share of the net loss after tax and total comprehensive income of its associates for the quarter and nine monthsended 31st December, 2020, ("the Statement"), being submitted by the Parent pursuant to the requirementof Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended ("Listing Regulations").
• 1. This Statement, which is the responsibility of the Parent's Management and approved bythe Parent's Board of Directors, has been prepared in accordance with the recognition andmeasurement principles laid down in Indian Accounting Standard 34 "Interim FinancialReporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunderandother accounting principles generally accepted in India. Our responsibility is to express aconclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on ReviewEngagements (SRE) 2410 "Review of Interim Financial Information Performed by thelndependent Auditor of the Entity", issued by the Institute of Chartered Accountants of India.This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of personsresponsible for financial and accounting matters, and applying analytical and other reviewprocedures. A review is substantially less in scope than an audit conducted in accordancewith Standards on Auditing and

Office at : Office No. 7C Eigth Flo Email address : ca_rakeshbh .."--,---..-- , % 1i —au, \re, Paldi, Ahmedabad 38 00 07 bi Mobile No.: 9825016151 d

consequently does not enable us to obtain assurance thatwe would become aware of all significant matters that might be identified in an audit.Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, asamended, to the extent applicable.

• 1. The Statement includes the results of the following entities:
  • i) Akash Infra-Projects Limited Parent Company
  • ii) Akash Infra Inc.- Subsidiary Company
  • iii) Akash Petroleum Private Limited- Associate Company
  • iv) Akash Residency & Hospitality Private Limited Associate of Akash Petroleum Private Limited.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 aboveand based on the consideration of the review reports of otherauditors referred to in paragraph 6 below, nothing has come to our attention that causes usto believe that the accompanying Statement, prepared in accordance with the recognitionand measurement principles laid down in the aforesaid Indian Accounting Standard andother accounting principles generally accepted in India, has not disclosed the informationrequired to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015, as amended, including the manner in whichit is to be disclosed, or that it contains any material misstatement.
• 1. The consolidated unaudited Financial Results includes the unaudited Financial Statements/Financial Results/Financial information of
  • i. One subsidiary which have not been reviewed, whose interim Financial Statements/Financial Results/financial information reflectsGroup's share of total revenue of Rs. 1.44 Lakhs and Rs. 4.38 Lakhs, Group's share of total net profit after tax of Rs. 1.24 lakhs and Rs. 1.831akhs and Group's share total comprehensive income of Rs.0.91 lakhs and Rs.

2.76 lakhsfor the quarter ended 31st December, 2020 and for the period from 1st April, 2020 to 31st December, 2020, as considered in the consolidated unaudited Financial Results.

ii. Two associates, which have not been reviewed, whose interim Financial Statements/Financial Results/financial information reflect total net profit after tax of Rs. 6.27 lakhs and Rs. 7.70 lakhs and total comprehensive income of Rs. 6.27 lakhs and Rs. 7.70 lakhs for the quarter ended 31st December, 2020 and for the period from istApril, 2020 to 31st December, 2020, as considered in the consolidated unaudited Financial Results.

These unaudited interim Financial Statements/Financial Results/financial information have been furnished to us by the Board of Directors and our opinion on the consolidated Financial Results, in so far as it relates to the amounts and disclosures included in respect of these subsidiary and associate is based solely on such unaudited interim Financial Statements/Financial Results/financial information. In our opinion and according to the information and explanations given to us by the Board of Directors / management, these interim Financial Statements/Financial Results / financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For Rakesh Bhatt & Co. Chartered Accountants

CA Rakesh Bhatt

Proprietor Membership No.: 046382

Place: Gandhinagar Date: 13.02.2021 UDIN: 21046382AAAAA13102

Office at : Office No. 7C Eigth Floor, Sumeru Centre, Paldi, Ahmedabad 38 00 07 Email address : ca_rakeshbhatt@yahoo.com Mobile No.: 9825016151