Profit and Loss for Contracting Company

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					LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


DIRECTOR’S REPORT
The Directors have pleasure in presenting the first Annual Report and Accounts for Larsen & Toubro Kuwait Construction General Contracting
Company WLL for the period from November 29, 2006 to December 31, 2007.

FINANCIAL RESULTS
                                                                                                                                             KD Million
Total Income                                                                                                                                      0.042
Operating Profit / (Loss)                                                                                                                       (0.183)
Add: Interest Income                                                                                                                              0.138
Profit / (Loss) after tax                                                                                                                       (0.044)
Balance to be carried forward                                                                                                                   (0.044)

DIVIDEND
The Directors do not recommend payment of any dividend.

YEAR IN RETROSPECT
The Company was incorporated in November 2006. During the year the Company operationalised the office, recruited essential staff for proposals,
estimation and administration. It has initiated the process of pre-qualification with major clients like KOC & KNPC and also relationship building /
pre-bid alliances with international EPC players.

CAPITAL EXPENDITURE
As at December 31, 2007, the gross Fixed Assets stood at KD 48,296 and net Fixed Assets at KD 42,185.

AUDITORS’ REPORT
The Auditors’ Report to the shareholders does not contain any qualifications. The Notes to the Accounts referred to in the Auditors’ Report are self-
explanatory.

CHANGE OF CIRCUMSTANCES
At the date of this report, the directors are not aware of any circumstances, not otherwise dealt with in this report or the financial statements of the
Company, that would render any amount stated in the financial statements misleading.

DISCLOSURE OF PARTICULARS
The Company being registered outside India, the disclosures required to be made in accordance with Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988, are not relevant. Hence the same has not been furnished.

PARTICULARS OF EMPLOYEES
There are no employees covered by the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of
Employees) Rules, 1975.

SUBSIDIARY COMPANIES
The Company has no subsidiary companies.

DIRECTORS’ RESPONSIBILITY STATEMENT
The Board of Directors of the Company confirm:
i.     that in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material
       departure;
ii.    that the selected accounting policies were applied consistently and the directors made judgements and estimates that are reasonable and
       prudent so as to give a true and fair view of the state of affairs of the Company as at December 31, 2007 and of the loss of the Company for the
       year ended on that date;
iii.   that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the
       Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and
iv.    that the annual accounts have been prepared on a going concern basis.

DIRECTORS
The first Directors of the Company are:
Mr. K. Venkataraman
Mr. Raj K. Sethi
Mr. D. S. Shevde
Mr. Y. V. S. Sravankumar


S-654
                                   LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL

AUDITORS
The auditors Albazie & Co., members of M/s RSM International, Chartered Accountants continue to be the auditors of the Company for the financial
year 2008.

ACKNOWLEDGEMENTS
The Directors acknowledge the invaluable support extended by the customers, vendors, bankers and employees of the Company.


                                                                                               For and on behalf of the Board


                                                                                      D. S. SHEVDE                Y. V. S. SRAVANKUMAR
                                                                                         Director                           Director


Place : Mumbai
Date : May 15, 2008




                                                                                                                                         S-655
LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


AUDITORS’ REPORT

TO THE MEMBERS OF LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL
The financial statements of LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL for the period ended
December 31, 2007, being a company registered in the State of Kuwait, are audited by Albazie & Co. and we have been furnished with their audit
report dated May 4, 2008.
We are presented with the accounts in Indian Rupees prepared on the basis of the aforesaid accounts to comply with the requirements of Section
212 of the Companies Act, 1956. We give our report as under:
We have audited the attached Balance Sheet of LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL as at
December 31, 2007 and the Profit and Loss Account and the Cash Flow Statement of the Company for the period from November 29, 2006 to that
date, annexed thereto. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion
on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in financial statements. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the overall financial statements presentation. We believe that our audit
provides a reasonable basis for our opinion.
In accordance with the provisions of Section 227 of the Companies Act, 1956, we report that:
(1)   As required by the Companies (Auditor’s Report) Order, 2003, issued by the Central Government of India under sub-section (4A) of Section
      227 of the Companies Act, 1956, and on the basis of such checks of the books and records of the Company as we considered appropriate and
      according to the information and explanations given to us, we enclose in the Annexure a statement on the matters specified in paragraphs 4
      and 5 of the said Order.
(2)   Further to our comments in the Annexure referred to above, we report that:
      (a)   we have 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 appears from our examination of
          those books;
      (c)   the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of
            account;
      (d) in our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the accounting
          standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956; and
      (e)   as regards reporting on the disqualification of directors under Section 274(1)(g) of the Companies Act, 1956, since the Company is
            registered in the State of Kuwait, no reporting is required to be made under the said section.
      (f)   In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read together with the
            significant accounting policies in schedule I and notes appearing thereon, give the information required by the Companies Act, 1956 in
            the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:
            (i)    in the case of the Balance Sheet, of the state of affairs of the Company as at December 31, 2007;
            (ii)   in the case of the Profit and Loss Account, of the loss for the period ended on that date; and
            (iii) in the case of the Cash Flow Statement, of the cash flows for the period ended on that date.

                                                                                                                                SHARP & TANNAN
                                                                                                                              Chartered Accountants



                                                                                                                               FIRDOSH D. BUCHIA
Place : Mumbai                                                                                                                              Partner
Date : May 15, 2008                                                                                                           Membership No. 38332




S-656
                                       LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


ANNEXURE TO THE AUDITORS’ REPORT
(Referred to paragraph (1) of our report of even date)

(i)      The Company has no fixed assets and accordingly paragraphs 4(i)(a), (b) and (c) of the Order are not applicable.
(ii)     The Company has no inventories and accordingly paragraphs 4(ii)(a), (b) and (c) are not applicable.
(iii)    There are no loans, secured or unsecured, either granted to or taken from companies, firms or other parties. However, no register is required
         to be maintained under Section 301 of the Companies Act, 1956 since the Company is incorporated and doing business only in the State of
         Kuwait. Accordingly, paragraphs 4(iii)(b) to (g) of the Order are not applicable.
(iv)     In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate
         with the size of the Company and the nature of its business for the purchase of fixed assets and for the sale of services. In our opinion and
         according to the information and explanations given to us, there is no continuing failure to correct major weaknesses in the aforesaid internal
         control procedures.
(v)      The Company is incorporated in the State of Kuwait and accordingly, maintenance of records under Section 301 of the Companies Act, 1956
         is not required. Accordingly, paragraphs 4(v)(a) and (b) of the Order are not applicable.
(vi)     The Company has not accepted deposits and the directives issued by the Reserve Bank of India and the provisions of Sections 58A, 58AA
         and other relevant provisions of the Companies Act, 1956 and the rules framed thereunder are not applicable.
(vii)    The Company has not conducted internal audit during the period.
(viii)   The Company is not required to maintain cost records under Section 209(1)(d) of the Companies Act, 1956 and accordingly paragraph 4(viii)
         of the Order is not applicable to the Company.
(ix)     The Company being registered in the State of Kuwait has no statutory liabilities in India and accordingly reporting under paragraphs 4(ix)(a)
         and (b) is not required.
(x)      The Company is in existence for a period of less than five years, hence reporting under paragraph 4(x) is not applicable.
(xi)     According to the information and explanations given by management, the Company has neither borrowed from a bank or financial institution
         nor has it issued any debentures.
(xii)    According to the information and explanations given by management, the Company has not granted any loans or advances on the basis of
         security by way of pledge of shares, debentures or other securities.
(xiii)   The provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund / societies are not applicable to the Company.
(xiv)    In our opinion and according to the information and explanations given to us, the Company is not a dealer or trader in securities.
(xv)     According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks
         or financial institutions.
(xvi)    The Company has not availed any term loans during the period.
(xvii) According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, we report that
       no funds raised on short term basis have been used for long term investments.
(xviii) The Company has not made any preferential allotment of shares to any party during the period.
(xix)    The Company has not issued debentures during the period and accordingly, no security is required to be provided.
(xx)     The Company has not raised any money by public issues during the period.
(xxi)    During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted
         auditing practices in India, and according to the information and explanations given to us, we have neither come across any instances of
         material fraud on or by the Company, noticed or reported during the period, nor have we been informed of such case by management.

                                                                                                                                  SHARP & TANNAN
                                                                                                                                Chartered Accountants



                                                                                                                                FIRDOSH D. BUCHIA
Place : Mumbai                                                                                                                               Partner
Date : May 15, 2008                                                                                                            Membership No. 38332




                                                                                                                                                 S-657
LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


BALANCE SHEET AS AT DECEMBER 31, 2007
                                                                                                                      As at 31.12.2007
                                                                                              Schedule               Rupees           Rupees

SOURCES OF FUNDS
Shareholders’ Funds
    Share capital                                                                                 A             320,221,984
     Reserves and surplus                                                                         B             (38,711,526)
                                                                                                                                 281,510,458
TOTAL                                                                                                                            281,510,458

APPLICATION OF FUNDS
Fixed Assets                                                                                      C
     Gross block                                                                                                   6,952,455
     Less: Depreciation                                                                                             879,685
     Net block                                                                                                     6,072,770
     Capital work-in-progress                                                                                              –
                                                                                                                                   6,072,770
Current Assets, Loans and Advances                                                                D
     Inventories                                                                                                           –
     Sundry debtors                                                                                                        –
     Cash and bank balances                                                                                     279,542,351
     Loans and advances                                                                                            2,823,369
                                                                                                                282,365,720
Less: Current Liabilities and Provisions                                                          E                6,928,032
Net Current Assets                                                                                                               275,437,688
TOTAL                                                                                                                            281,510,458


SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS                                             I




The schedules referred to above and the notes attached form an intergral part of the financial statements.
As per our attached Report of even date
SHARP & TANNAN                                                                                  For and on behalf of the Board
Chartered Accountants


FIRDOSH D. BUCHIA
Partner                                                                                D. S. SHEVDE                Y. V. S. SRAVANKUMAR
Membership No. 38332                                                                      Director                           Director
Place : Mumbai                                                                        Place : Mumbai
Date : May 15, 2008                                                                   Date : May 15, 2008


S-658
                                      LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


PROFIT AND LOSS ACCOUNT FOR THE PERIOD FROM NOVEMBER 29, 2006
TO DECEMBER 31, 2007
                                                                                                                            2007

                                                                                             Schedules               Rupees           Rupees

INCOME

Other Income                                                                                      F                                26,767,114

                                                                                                                                   26,767,114

EXPENDITURE

Staff Expenses                                                                                    G              16,306,761

Sales, Administration and Other Expenses                                                          H              16,154,485

Depreciation                                                                                                        907,459

                                                                                                                                   33,368,705

Profit / (Loss) before Tax                                                                                                         (6,601,591)

Provision for current Taxes                                                                                                                 –

Profit / (Loss) after Tax                                                                                                          (6,601,591)

Balance carried to Balance Sheet                                                                                                   (6,601,591)




Earnings per Equity Share - Basic                                                                                                   (3,300.80)

Earnings per Equity Share - Diluted                                                                                                 (3,300.80)

SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS                                             I




The schedules referred to above and the notes attached form an intergral part of the financial statements.
As per our attached Report of even date
SHARP & TANNAN                                                                                  For and on behalf of the Board
Chartered Accountants


FIRDOSH D. BUCHIA
Partner                                                                                D. S. SHEVDE                Y. V. S. SRAVANKUMAR
Membership No. 38332                                                                      Director                           Director
Place : Mumbai                                                                        Place : Mumbai
Date : May 15, 2008                                                                   Date : May 15, 2008


                                                                                                                                       S-659
LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


CASH FLOW STATEMENT FOR THE PERIOD FROM NOVEMBER 29, 2006
TO DECEMBER 31, 2007
                                                                                                                                    2007
                                                                                                                                  Rupees

A.   Cash Flow From Operating Activities
     Net profit before tax                                                                                                     (6,601,591)
     Adjustments for
     Depreciation                                                                                                                  907,459
     Interest (net)                                                                                                           (20,544,389)
     (Increase) / Decrease in Translation loss                                                                                (32,109,935)
     Operating profit before Working Capital changes                                                                          (58,348,456)
     (Increase) / decrease in loans and advances                                                                               (2,823,369)
     Increase / (decrease) in trade payables                                                                                    6,928,032
     Cash generated from Operations                                                                                           (54,243,794)

B.   Cash Flow from Investing Activities
     Purchase of Fixed assets                                                                                                  (6,952,455)
     Difference in the opening value of cumulative depreciation due to exchange difference                                        (27,774)
     Interest received                                                                                                         20,544,389
     Net Cash (used in) / from Investing Activities                                                                            13,564,160

C.   Cash Flow from Financing ActivIties
     Proceeds from issue of share capital                                                                                     320,221,984
     Net cash (used in) / from Financing Activities                                                                           320,221,984
     Net (decrease) / increase in Cash and Cash Equivalents (A+B+C)                                                           279,542,351
     Cash and Cash Equivalents at beginning of the year                                                                                 –
     Cash and Cash Equivalents at end of the year                                                                             279,542,351




As per our attached Report of even date
SHARP & TANNAN                                                                               For and on behalf of the Board
Chartered Accountants


FIRDOSH D. BUCHIA
Partner                                                                              D. S. SHEVDE               Y. V. S. SRAVANKUMAR
Membership No. 38332                                                                    Director                          Director
Place : Mumbai                                                                      Place : Mumbai
Date : May 15, 2008                                                                 Date : May 15, 2008


S-660
                                  LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


SCHEDULE FORMING PART OF ACCOUNTS
                                                                                                                         As at 31.12.2007
                                                                                                                     Rupees           Rupees
SCHEDULE - A
SHARE CAPITAL
Authorised
2,000 Equity shares of KD 1,000 each                                                                                                 320,221,984

Issued, Subscribed and Paid-up
2,000 Equity shares of KD 1,000 each                                                                                                 320,221,984
TOTAL                                                                                                                                320,221,984
Note :   49% of the equity held by Larsen & Toubro International FZE, Sharjah, UAE a wholly owned
         subsidiary of Larsen & Toubro Ltd, India and 51% is held by Bader Al Mulla & Brothers, Kuwait


SCHEDULE - B
RESERVES AND SURPLUS
Profit & Loss account                                                                                                                 (6,601,591)
Translation Loss                                                                                                                     (32,109,935)
TOTAL                                                                                                                                (38,711,526)


SCHEDULE - C
FIXED ASSETS
DESCRIPTION                                    COST / VALUE                                DEPRECIATION                             BOOK VALUE
                                      Cost /       Additions         As at   Exchange difference          For the          Upto            As at
                             Valuation as on          during   31.12.2007          included in the          Year     31.12.2007      31.12.2007
                                 29.11.2006         the year                   translation reserve
                                     Rupees          Rupees       Rupees                   Rupees        Rupees         Rupees          Rupees
Plant & Machinery                         –        2,113,876    2,113,876                 (5,680)        185,587       179,906        1,933,969
Motor Vehicles                            –        1,134,437    1,134,437                 (4,775)        156,018       151,243          983,194
Furniture & Fixtures                      –        3,704,142    3,704,142                (17,319)        565,854       548,536        3,155,606
Total                                     –        6,952,455    6,952,455                (27,774)        907,459       879,685        6,072,770
Previous Year                             –                –            –                       –              –                –


                                                                                                                         As at 31.12.2007
                                                                                                                     Rupees           Rupees
SCHEDULE - D
CURRENT ASSETS, LOANS AND ADVANCES
Current Assets
    Cash and bank balances
         Cash on hand                                                                                                 43,528
         Balances with non-scheduled banks                                                                      279,498,822
                                                                                                                                     279,542,351
Loans and advances
    Unsecured : Considered good
         Advances recoverable in cash or in kind                                                                    1,231,367
         Due from related party                                                                                     1,592,002
                                                                                                                                       2,823,369
TOTAL                                                                                                                                282,365,720



                                                                                                                                           S-661
LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


SCHEDULE FORMING PART OF ACCOUNTS (Contd.)
                                                                          As at 31.12.2007
                                                                      Rupees           Rupees
SCHEDULE - E
CURRENT LIABILITIES AND PROVISIONS
Liabilities
Acceptances
     Sundry creditors
         Due to holding company and its subsidiaries                                 1,155,945
         Others                                                                      5,772,087
TOTAL                                                                                6,928,032


                                                                       29.11.2006 to 31.12.2007
                                                                      Rupees            Rupees
SCHEDULE - F
OTHER INCOME
Project Management Fees                                                              6,222,725
Interest received                                                                   20,544,389
TOTAL                                                                               26,767,114


SCHEDULE - G
STAFF EXPENSES
Salaries, wages and bonus                                                           14,875,924
Contribution to social security scheme                                                 593,109
Welfare and other expenses                                                             837,728
TOTAL                                                                               16,306,761


SCHEDULE - H
SALES, ADMINISTRATION AND OTHER EXPENSES
Rent                                                                                 3,830,558
Rates & Taxes                                                                            3,059
Bank charges                                                                            24,188
Travelling and Conveyance                                                            3,189,686
Insurance                                                                               29,486
Telephone                                                                            2,746,426
Repairs & Maintenance                                                                2,165,279
Miscellaneous expenses                                                               4,165,803
TOTAL                                                                               16,154,485




S-662
                                     LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


SCHEDULE FORMING PART OF ACCOUNTS (Contd.)
SCHEDULE - I
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS
1)   LEGAL STATUS
     Larsen & Toubro Kuwait Construction General Contracting Company WLL is a Company incorporated in Kuwait. The main activities of the
     Company are general contracting.
2)   SIGNIFICANT ACCOUNTING POLICIES
a.   Basis of Accounting
     The accounts have been prepared using historical cost convention and on accrual basis and is in accordance with the provisions of Section
     211(3C) and the other provisions of the Companies Act, 1956.
     The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires that the management of the
     Company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of
     assets and liabilities and disclosure relating to contingent liabilities as of the date of the financial statements. Example of such estimates
     include the useful life of fixed assets and intangible assets, provision for doubtful debts / advances, future obligations in respect of retirement
     benefit plans etc. Actual results could differ from these estimates.
b.   Retirement / Termination Benefits
     Payment is made for amounts payable under the Kuwaiti Labour Law and employee contracts. This liability, which is unfunded, represents the
     amount payable to each employee as a result of involuntary termination on the Balance Sheet date and approximates the present value of the
     final obligation.
c.   Fixed Assets
     Fixed assets are stated at cost less depreciation.
d.   Depreciation
     Depreciation is calculated on a straight-line basis over the estimated useful lives of assets as follows:
     1.   Plant, Machinery and Equipment                  25%
     2.   Motor Vehicles                               33.33%
     3.   Furniture & Fixtures                            15%
     The above rates are higher than the rates specified under Schedule XIV of the Companies Act, 1956 for the respective categories.
e.   Statutory reserve
     As required by the Commercial Law and the Company’s Articles of Association, 10% of annual (net) profit is transferred to statutory reserve.
     The Company may resolve to discontinue such annual transfers when the reserve equals 50% of the capital. This reserve is not available for
     distribution except in cases stipulated by Law and the Company’s Articles of Association. No transfer has been made due to a net loss during
     the period.
f.   Voluntary reserve
     As required by the Company’s Articles of Association, 10% of net profit is transferred to the voluntary reserve. The partners may resolve to
     discontinue such transfer upon recommendation from management. No transfer has been made due to a net loss during the period.
g.   Translation of financial statements in foreign currency to Indian Rupees
     Accounts are translated in Indian Rupees as follows:
     a.   Share capital is retained at the initial contribution amount.
     b.   Fixed and Current assets & Current liabilities are translated at year-end rates.
     c.   Revenue transactions are translated at the average rates.
     The resultant difference is accounted as translation reserve in the balance sheet.

3)   NOTES ON ACCOUNTS
a.   Amount due to / due from related parties

      Related Party                                 Nature of relationship          Nature of transaction            Amount Outstanding in Rupees
                                                                                                                          Due from          Due to
                                                                                                                      Related Party  Related Party
      Larsen & Toubro Limited                       Ultimate Holding Company        Overheads                             1,579,762        1,139,980
      Larsen & Toubro International FZE             Holding Company                 Overheads                                                  15,965
      Larsen & Toubro Infotech Limited              Fellow Subsidiary               Overheads                                12,240




                                                                                                                                                 S-663
LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


SCHEDULE FORMING PART OF ACCOUNTS (Contd.)
b.   Balances with non-scheduled banks
                                                                                             As at                Maximum amount outstanding
        Bank                                                                           31.12.2007                  at any time during the period
                                                                                          Rupees                                         Rupees
        Bank of Kuwait & Middle East                                                      838,250                                        3,572,387
        National Bank of Kuwait                                                          5,146,072                                       5,146,072
        FD with National Bank of Kuwait                                               273,514,500                                     287,910,000

c.   Taxation
     Provision for income tax for the current period has not been made in the financial statements on account of the net tax loss incurred during the
     period.

d.   Borrowing cost capitalised during the period is Rs. Nil
e.   There are no transactions with micro and small enterprises as defined in the Micro, Small & Medium Enterprises Development Act, 2006,
     during the period.
f.   Auditor’s remuneration and expenses charged to the accounts:
     Audit Fees Rs. 222,750
g.   Estimated amount of contracts remaining to be executed on capital account (net of advances) is Nil.
h.   Contingent Liabilities
     There are no obligations, past or present, which have arisen from past events which have not been provided for in the books at the Balance
     Sheet date.

i.   Since this being the first period of operation, figures for previous year are not provided.




S-664
                                      LARSEN & TOUBRO KUWAIT CONSTRUCTION GENERAL CONTRACTING COMPANY WLL


SCHEDULES FORMING PART OF ACCOUNTS (Contd.)
j.   BALANCE SHEET ABSTRACT AND COMPANY’S GENERAL BUSINESS PROFILE

     I.     Registration Details
            Registration No.               1 1 7 6 6 8                              State Code                                     N A
            Balance Sheet Date      3 1       1 2       2 0 0    7
                                    Date     Month      Year
     II.    Capital raised during the year (Amount in Rs. Thousands)
                                 Public Issue                                                               Rights Issue
                                                     N I    L                                                                   N I   L
                                   Bonus Issue                                                              Private Placement
                                                     N I    L                                                        3 2 0 2 2 2
     III.   Position of Mobilisation and Deployment of Funds (Amount in Rs. Thousands)
                                  Total Liabilities                                                         Total Assets
                                           2 8 1 5 1 0                                                               2 8 1 5 1 0
            Sources of Funds
                                   Paid-up Capital                                                + –       Reserves & Surplus
                                           3 2 0 2 2 2                                                 –                3 8 7 1 2
                                   Secured Loans                                                            Unsecured Loans
                                                     N I    L                                                                   N I   L
            Application of Funds
                                   Net Fixed Assets and net Intangible Assets                               Investments
                                                  6 0 7 3                                                                       N I   L
                                   Net Current Assets                                                       Deferred Tax
                                           2 7 5 4 3 7                                                                          N I   L
                                   Misc. Expenditure                                                        Accumulated Losses
                                                     N I    L                                                                   N I   L
     IV.    Performance of Company (Amount in Rs. Thousands)
                              Turnover (including other income)                                             Total Expenditure
                                              2 6 7 6 7                                                                 3 3 3 6 9
                          + –      Profit/Loss before tax                                         + -      Profit/Loss after tax
                               –                  6 6 0 2                                              –                   6 6 0 2
                          + –      Basic Earnings Per Share in Rs.                                         Dividend Rate %
                               –        3 3 0 0 .       8 0                                                                     N I   L
     V.     Generic Names of Three Principal Products/Services of the Company (as per monetory terms)
            Item Code No.                        N . A .
            (ITC Code)
            Product Description      CONSTRUCTION ACTIVITY IN HYDROCARBON SECTOR



As per our attached Report of even date
SHARP & TANNAN                                                                            For and on behalf of the Board
Chartered Accountants


FIRDOSH D. BUCHIA
Partner                                                                           D. S. SHEVDE                 Y. V. S. SRAVANKUMAR
Membership No. 38332                                                                 Director                            Director
Place : Mumbai                                                                   Place : Mumbai
Date : May 15, 2008                                                              Date : May 15, 2008


                                                                                                                                          S-665

				
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