VPLPL Ar 2022 23

VISAKHAPATNAM
_ _ _ _ _ _ _ ,.. d . ..I .. ---• -- _. _
PORT LOGISTICS PARK LTD

A Balmer Lawrie-Visakhapatnam Port Trust JV
CIN: U63090WB2014GOl202678
Audited Annual Accounts

2022-23
L;
Visakhapatnam Port Logistics Park Limited

C IN. U63090WB2014GO1202678
Balance Sheet as at 3 1st Ma rc h 2023
(f in La khs)
As at As at
Note As at
Pa rticula rs 31st Ma rch 2022 31st March 2021
No. 31st Ma rch 2023
1 Restated 1 1 Restatedl
ASSETS
I Non-current assets
(a ) Property, Plant and Equipment I I 3,546 08 14.324 48 15, II0.41
(b) Right-of-use assets 2 3,961 80 4. 143 25 4,324 7 1
(c) Capital Work-in-Progress 4 16.32
(d) Other Inta ngi ble Assets 3 24 45 10. 13 13 . 13
Total No n-Current Assets 17,532.33 18,494. 18 19,448.25
2 Current assets
(a ) Financial Assets
i) Trade Receivabl es 5 149 96 238 53 145 25
ii ) Cash and Cash Equi valents 6 0 97 73 .63 35.82
ii i) Other Balances with Bank 7 1900 3 12.00
iv) Others 8 38.85 40 24 49 05
(b) Non Financial Assets - Others 9 255 08 514 10 604 .91
Total Current Assets 463.86 1, 178.50 835.03
TOTAL ASSETS 17,996. 19 19,672.68 20,283.28
EQUITY AN D LIABILITI ES
Equity
(a) Equi ty Share Capital 10 13 ,506.50 13 .506 so 13.506.50
(b) Other Equity II (5 ,691 27) (4.636 96) (3 ,740 25)
Total Equity 7,81 5.23 8,869.54 9,766.25
Liabilities
( I) Non-Current Liabilities
(a) Financial Liabilities
( i) Borrowings 12 7,705 74 8,4 I 5.92 8,877 18
( ii) Lease liabilities 13 19.90 20. 12 20.30
(b ) Provisio n
Total Non-Current Liabilities 7,725.64 8,436.04 8,897.48
(2) Current liabilities
(a) Financial Liabilities
(i) Borrowings 330 03 230.03 230 03
( ii) Lease liabilities 13 1.56 1.69 1.83
( iii ) T rade Payables 14
(A) Total outstanding dues ofM icro,Medium and Small Enterprises 3 19
(8) Total outstanding dues of creditors other than micro enterprises 89.42 SI 93 so 95
and small enterprises
(iv) Other Financial Liabilities IS 1.566.44 1,590.49 877 40
(b) Non Financial Liabilities - Others 16 444.07 472 .02 448 06
(c) Provisions 17 23 .80 17.75 11 .28
Total Current Liabilities 2,455.32 2,367. 10 1,619.55
Total Liabilities 10, 180.96 10,803.1 4 10,51 7.03
TOTAL EQUITY AN D LIABILITIES 17,996. 19 19,672.68 20,283.28
The Significant Accounting Policies (I) and Notes (II) are integral part of these Financial Statements.
In terms of our Audit Report of even date attached
For ADR & ASSOCI ATES For and on behalf of

Chartered Accountants Visakhapatnam Port Logistics Park Limited
Firm Registration No. 325092E
P!ssocl .
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D.S. Tiwari
Partner
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Adhip N Palchaudhuri
Director
Saurav Dutta
(DIN: 10042140)
Director
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Membership No. 058824
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Romon Sebastian Louis A. Venu l'rasad
Place: Kolkata (DIN: 08710802) (DIN: 09207446)
Date: 15.05.2023 Director Director
CIN - U63090WB2014GOl202678
Statement of Profit and Loss for the year ended 31st March, 2023
(t in Lakhs)
Particulars
N
N
I For the year
ote ended 31st March For the year ended 31st
March 2022
o. 2023
REVENUE
I
II
I
Revenue from Operations
Other Income
18 1,235.72 1,395.09
19 20.57 10.28
III Total Income (I+ II) 1,256.29 1,405.37
IV IEXPENSES
Cost of Material Consumed and Services Rendered 20 36.15 88.07
Employee Benefits Expenses 21 76.36 66.07
Finance Costs 22 836.41 773 .86
Depreciation and Amortization Expenses 23 986.90 981 .48
Administration and Other Expenses 24 374.78 392.60
Total Expenses (IV) 2,310.60 2,302.08
V
VI
I
Profit before tax (Ill - IV)
Tax Expenses:
(1,054.31) (896.71)
Current Tax - -
Deferred Tax - -
VII IProfit/ (Loss) for the year ( V - VI) (1,054.31) (896.71)
VIII !Other Comprehensive Income for the year - -
IX ITotal Comprehensive Income for the year (VII+ VIII) (1,054.31) (896.71)
X IEarnings per equity share (Face Value of Rs. 10/- each)

i) Basic (in Rs.) (0.78) (0.66)
ii) Diluted (in Rs.) (0.78) (0.66)
The Significant Accounting Policies (I) and Notes (II) are integral part of these Financial Statements.
In terms of our Audit Report of even date attached
For ADR & ASSOCIATES For and on behalf of

G..uJ~tQ_ ·L ---~
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(DIN: 0869Sp22)
Director
Saurav Dutta
(DIN: 10042140)
Director
D.S. Tiwari
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Partner
. .. ·• ~·· .
Romon Sebastian Louis A. V enu Prasad
Place: Kolkata (DIN: 08710802) (DlN: 09207446)
CIN - U63090WB2014GOl202678
Cash Flow Statement for the year ended 31st March 2023
ft in Lakhs_)_
Particulars
For the Year I
For the Year Ended
Ended 31st March 31st March 2022
2023
A ICash Flow from Operating Activities
Net Profit/ (Loss) before tax (1,054.31) (896.71)

Adjustment for -
Depreciation & Amortisations 986.90 981.48
Interest 836.41 773 .86
Provisions 0.00 0.00
Operating Profit before Working Capital Changes 769.00 858.63
Adjustment for -
Current Liabilities ( 11.67) 847.67
Current Assets 641.98 (305.65)
NET CASH FROM OPERA TING ACTIVITIES 1,399.31 1,400.65
B ICash Flow from Investing Activities
Fixed Assets - Capital Work in Progress ( 16.32)

Purchase of Fixed Assets (7.43) ( I l.12)
Addition in Intangible assets under development (17.60)
NET CASH FROM INVESTING ACTIVITIES (25.03) (27.44)·
C ICash Flow from Financing Activities
Payment of lease liabilities (0.35) (0.32)

Proceeds from Borrowings (610.19) (561.21)
Interest (836.41) (773.86)
NET CASH FROM FINANCING ACTIVITIES (1,446.94) (1,335.39)
Net Changes in Cash & Cash Equivalents (A+B+C) (72.66) 37.82
Cash & Cash Equivalent Opening Balance 73.631 35.82

Cash & Cash E_g_uivalent Closing Balance 0.97 73.63
-
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(DIN: 08695322)
Saurav Dutta
(DIN: 10042140)
D.S. Tiwari Director l Director
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Partner
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Romon Sebastian Louis A. Venu Prasad
Visakhapatnam Port Lo~istics Park Limited
Cl~ - U63090WB20l4GOl202678
Statement of Changes in Equity for the year ended 31st March 2023
.\. Equity Sh.are Capital {fin Lak.hs:)

(I) Cu rrent reportim! oeriod
Changes in Equity Share Restated balance at the Changes in Equity Balance at the end of the
Balance at the beginning of the current
Ca p ital due to prior period beginning of the current Share Capital during current
reporting period
errors reporting period the current year reporting period
13.506.50 0 13,506.50 0 13,506.50
C~) Previous reporti ng: period
Changes in Equity Share Restated balance at the Changes in Equity Balance at the end of the
Balance at the beginning of the previous
Capital due to prior period beginning of the previous Share Capital during previoHs
reporting period
er-rors reporting period the previous year reporting period
13,506.50 0 13,506.50 0 13,506.50
8. Other Equity ff io Lakh•)

( I) Current reporting period Reserve§ :ind Surph1s
Other Compc-ehensive
Securities Premium Genec-al Reserve Retained E~ming:s Total
focome [OCI) Reserve
Balance at the beginning of the current
reportine; period - (4,636.96) - (4,636.96)
Changes in Accounting policy or pri or period errors - - -
Restated balance at the begin ning of the current reporting
period - (4,636.96) - (4,636.96)
Total Comprehensive lncome for the current Year (1,054.31 ) - (l,054.31J
Dividends - - - - -
Transfer to retamed earnings - - -
Bonus shares issued - - -
Reta.med earnings adjustment - -
Remeasurement gain/(loss) during the year - - - -
Balance at the end of the current
reporting period - - (5,691.27) - (5,691.27)
(2) Previous reporting period 31.03.2022 Reserves and Surolus

Other Comprehensive Total
Securitie, Premium General Resenre Retained Earnings
Income fOC() Reserve
Balance at the beginning of the previous
reporting period - (3,7?3.59) - (3,723.59)
Changes in accounting policy or prior period errors - (16.66) - (16.66)
Restated balance at the beginning of the previous reporting
period - (3,740.25) - (3,740.25)
Tota] Comprehensive [ncome for the previous Year - - (896.71> - (896.71)
Dividends - - - -
Transfer to retained earnings - - - - -
Bonus shares issued - - - -
Retained eamlngs adjustment - - - -
Remeasurement gain/(loss) during the year - - - -
Balance at the end of the previous
reporting period - (4,636.96) - (4,636.96)
This is the Statement of Changes m Eqwty referred to in our report of even date,
As per our report attached
For ADR & ASSOClA TES For and on behalf of

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Chartered Accountants - Visakhapatnam Port Logistics Park Limited
Firm Registration No. 325092E ; ~~ssocL
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~ : l -c ta ?t Adhip N Palcha ~dhuri Saurav Dutta
(DIN: 08695322 (DIN: 10042140)
I ~~ Director Director
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D. S. Tiwari
~
Partner
l\lleml>ership No. 058824 ·• •. ·•.~o • '
-
'
-· . --· .. .
Romon Sel>astia A. Venu Prasad
Place: Kolkata (DL1'/: 08710802) (DIN: 09207446)
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CIN - U63090WB2014GOl202678
I. Significant Accounting Policies and other explanatory information to the financial

statements ofVisakhapatnam Port Logistics Park Limited for the year ended 31 March 2023
I. GENERAL INFORMATION AND STATEMENT OF COMPLIANCE WITH IND AS
Basis of Preparation
The financial statements have been prepared in accordance with the Companies (Indian Accounting
Standards) Rules 2015 as amended, issued by Ministry of Corporate Affairs (' MCA') and other relevant
provisions of the Companies Act,2013 . The Company has uniformly applied the accounting policies
during the period presented. These Financial Statements have been prepared in accordance with and
comply in all material aspects with Indian Accounting Standards (Ind AS) . Unless otherwise stated, all
amounts are stated in lakhs of Rupees.
The preparation of financial statements requires the use of accounting estimates which, by definition,
may or may not equal the actual results. Management also needs to exercise judgement in applying the
Company ' s accounting policies.
The financial statements for the year ended 3 I st March, 2023 are authorised and approved for issue by
the Board of Directors.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements have been prepared using the accounting policies and measurement basis
summarized below.
2.1 Historical cost convention
The financial statements have been prepared on a historical cost basis, except for the following assets and
liabilities which have been measured at fair value or revalued amount:
• Certain financial assets and liabilities, measured at fair value (refer accounting policy regarding
financial instruments),
• Defined benefit plans, plan assets measured at fair value
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CIN - U63090WB2014GOl202678

2.2 Operating Cycle
All assets and liabilities have been classified as current or non-current as per the Company's normal
operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013 and Ind AS I -
Presentation of Financial Statements based on the nature of products and the time between the acquisition
of assets for processing and their realisation in cash and cash equivalents.
2.3 Property, plant and equipment (including Capital Work-in-Progress)
Items of Property, plant and equipment are valued at cost of acquisition inclusive of any other cost
attributable to bringing the same to their working condition. Property, plant and equipment manufactured
/constructed in house are valued at actual cost of raw materials, conversion cost and other related costs.
For this purpose, cost includes deemed cost which represents the cost of leasehold land having lease
tenure over thirty (30) years is amortised over the period of lease. Leases having tenure of thirty (30)
years or less are treated as operating lease and disclosed under prepaid expense.
Expenditure incurred during construction of capital projects including related pre-production expenses is
treated as Capital Work-in- Progress and in case of transfer of the project to another body, the accounting
is done on the basis of terms of transfer.
Machine Spares whose use is irregular are classified as Capital Spares. Such capital spares are capitalised
as per Plant, Property & equipment.
Gains or losses arising on the disposal of property, plant and equipment are determined as the difference
between the disposal proceeds and the carrying amount of the assets and are recognized in profit or loss
within 'other income' or 'other expenses' respectively.
CIN - U63090WB2014GOl202678

Depreciation/ Amortisation:
Depreciation on tangible assets is provided on pro-rata basis on the straight-line method over the
estimated useful lives of the asset or over the lives of the assets prescribed under Schedule II of the
Companies Act, 2013, whichever is lower.
The estimated useful life for various building, property, plant and equipment is given below:
Assets Years
Plant and Machinery 15.00
Electrical Installations and Equipment 10.00
Furniture & Fittings 10.00
Office Equipment's 5.00
Railway's sidings 15.00
Building & Sidings* 30.00
Factory buildings* 30.00
Computers and data processing units 3.00
Mobile Phones and Portable Personal Computers 2.00
* The estimated useful life of the assets has, however been restricted to the remaining lease period of
the land.
The Residual values of all assets are taken as NIL.
2.4 Intangible Assets
a) Expenditure incurred for acquiring intangible assets like software costing Rs.500,000 and above
and license to use software per item of Rs.25,000 and above, from which economic benefits will
flow over a period of time, is amortised over the estimated useful life of the asset or five years,
whichever is earlier, from the time the intangible asset starts providing the economic benefit.
b) In other cases, the expenditure is charged to revenue in the year in which the expenditure is
incurred .
... _ -· -- . . .-
CIN - U63090WB2014GOl202678

2.5 Impairment of Assets
An assessment is made at each Balance Sheet date to determine whether there is an indication of
impairment of the carrying amount of the fixed assets. If any indication exists, an asset's recoverable
amount is estimated. An impairment loss is recognised whenever the carrying amount of the asset
exceeds the recoverable amount. The recoverable amount is the greater of the net selling price and value
in use. In assessing value in use, the estimated future cash flows are discounted to their present value
based on appropriate discount factor.
2.6 Financial Instruments
Recognition, initial measurement and De recognition
Financial assets and financial liabilities are recognised when the Company becomes a party to the
contractual provisions of the financial instrument and are measured initially at fair value adjusted by
transactions costs, except for those carried at fair value through profit or loss which are measured
initially at fair value. However, trade receivables that do not contain a significant financing component
are measured at transaction price. Subsequent measurement of financial assets and financial liabilities
is described below.
Financial assets are de recognized when the contractual rights to the cash flows from the financial asset
expire, or when the financial asset and all substantial risks and rewards are transferred. A financial
liability is de recognized when it is extinguished, discharged, cancelled or expires.
Classification and subsequent measurement offinancial assets
For the purpose of subsequent measurement, financial assets are classified into the following categories
upon initial recognition:
Amortised cost
-financial assets at fair value through profit or loss (FVTPL)
CIN - U63090WB2014GOl202678

All financial assets except for those at FVTPL are subject to review for impairment.
Amortised cost
A financial asset shall be measured at amortised cost using effective interest rates if both of the
following conditions are met:
a) the financial asset is held within a business model whose objective is to hold financial assets in
order to collect contractual cash flows; and
b) The contractual terms of the financial asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal amount outstanding.
The Company's cash and cash equivalents, trade and most other receivables fall into this category of
financial instruments.
A loss allowance for expected credit losses is recognised on financial assets carried at amortised cost.
Expected loss on individually significant receivables are considered for impairment when they are past
due and based on Company's historical counterparty default rates and forecast of macro-economic
factors. Receivables that are not considered to be individually significant are segmented by reference to
the industry and region of the counterparty and other shared credit risk characteristics to evaluate the
expected credit loss. The expected credit loss estimate is then based on recent historical counterparty
default rates for each identified segment. There are no universal expected loss percentages for the
Company as a whole. The Company generally consider its receivables as impaired when they are 3 years
past due. Considering the historical trends and market information, the Company estimates that the
provision computed on its trade receivables is not materially different from the amount computed using
Expected credit loss method prescribed under In AS I 09. Since the amount of provision is not material
for the Company as a whole, no disclosures have been given in respect of Expected credit losses.
2. 7 Government grants.
a) Grants from the government are recognised at their fair value where there is a reasonable
assurance that the grant will be received and the Company will comply with all attached
conditions.
CIN - U63090WB2014GOl202678

b) Government grants relating to income are deferred and recognised in the profit or loss over the
period necessary to match them with the costs that they are intended to compensate and presented
within other income.
c) Government grants relating to the purchase of property, plant and equipment are included in non-
current liabilities as deferred income and are credited to profit or loss on a straight-line basis over
the expected lives of the related assets and presented within other income.
2.8 Revenue recognition
Revenue towards satisfaction of a performance obligation is measured at the amount of transaction

price (net of variable consideration) allocated to that performance obligation.
Services rendered:
When control over the service rendered in full or part is recognized by the buyer and no significant
uncertainty exists regarding the amount of consideration that is derived from rendering the services.
Other income:
Interest income is recognised on a time proportion using the effective Interest rate method
Dividend from investments in shares on establishment of the Company's right to receive.
2.9 Employee benefits
a) Company's contributions to Provident Fund and Superannuation Fund/NPS are charged to Profit
and Loss.
b) Employee benefits in respect of Gratuity, Leave Encashment, are charged to Profit & Loss
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CIN - U63090WB2014GOl202678

2.10 Leases
The Company' s lease asset classes primarily consist of lease for land. The Company assesses whether a
contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract
conveys the right to control the use of an identified asset for a period of time in exchange for
consideration. To assess whether a contract conveys the right to control the use of an identified asset, the
Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has
substantially all of the economic benefits from use of the asset through the period of the lease and (iii)
the Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use asset (" ROU") and a
corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a
term of twelve months or less (short-term leases) and low value leases. For these short-term and low value
leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over
the term of the lease.
Certain lease arrangements include the options to extend or terminate the lease before the end of the lease
term . ROU assets and lease liabilities includes these options when it is reasonably certain that they will
be exercised.
The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease
liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any
initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated
depreciation and impairment losses.
The lease liability is initially measured at amortized cost at the present value of the future lease payments.
The lease payments are discounted using the interest rate implicit in the lease or, if not readily
determinable, using the incremental borrowing rates in the country of domicile of these leases. Lease
liabilities are remeasured with a corresponding adjustment to the related right ofuse asset if the Company
changes its assessment if whether it will exercise an extension or a termination option.
Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments
have been classified as financing cash flows
CIN - U63090WB2014GOI202678

2.11 Foreign currency translation
a) Functional and presentation currency
Items included in the financial statements are presented in INR currency, which is the functional
and presentation currency of the Company.
b) Transactions and balances
Foreign currency transactions are translated into the functional currency using the exchange rates
at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of
such transactions and from the translation of monetary assets and liabilities denominated in foreign
currencies at year end exchange rates are generally recognised in profit or loss.
2.12 Income taxes
Tax expense recognized in profit or loss comprises the sum of deferred tax and current tax not recognized
in other comprehensive income or directly in equity.
Current tax is payable on taxable profit, which differs from profit or loss in the financial statements.
Calculation of current tax is based on tax rates and tax laws that have been enacted or substantively
enacted by the end of the reporting period.
Deferred income taxes are calculated using the liability method on temporary differences between the
carrying amounts of assets and liabilities and their tax bases. However, deferred tax is not provided on
the initial recognition of an asset or liability unless the related transaction is a business combination or
affects tax or accounting profit. Deferred tax assets and liabilities are calculated, without discounting, at
tax rates that are expected to apply to their respective period of realization, provided those rates are
enacted or substantively enacted by the end of the reporting period.
Deferred tax asset ('OTA') is recognized for all deductible temporary differences, carry forward of
yqus~d tax cr~dit and unused tax losses, to the extent that it is probable that taxable profit will be available
CIN - U63090WB2014GO1202678

against which deductible temporary difference, and the carry forward of unused tax credits and unused
tax losses can be utilized or to the extent of taxable temporary differences except:
Where the OTA relating to the deductible temporary difference arises from the initial recognition of an
asset or liability in a transaction that is not a business combination; and at the time of the transaction,
affects neither accounting profit nor taxable profit or loss.
This is assessed based on the Company' s forecast of future operating results, adjusted for significant non-
taxable income and expenses and specific limits on the use of any unused tax loss or credit.
Changes in deferred tax assets or liabilities are recognised as a component of tax income or expense in
profit or loss, except where they relate to items that are recognized in other comprehensive income or
directly in equity, in which case the related deferred tax is also recognized in other comprehensive income
or equity, respectively.
Deferred tax liabilities are not recognised for temporary differences between the carrying amount and tax
bases of investments in subsidiaries, branches and associates and interest in joint arrangements where the
Company is able to control the timing of the reversal of the temporary differences and it is probable that
the differences will not reverse in the foreseeable future.
2.13 Provisions, Contingent liabilities and Capital commitments
a) Provision is recognised when there is a present obligation as a result of a past event and it is
probable that an outflow ofresources will be required to settle the obligation in respect of which
a reliable estimate can be made. Provision amount are discounted to their present value where
the impact of time value of money is expected to be material.
b) Contingent liabilities are disclosed in respect of possible obligations that arise from past events
but their existence is confirmed by the occurrence of one or more uncertain future events not
wholly within the control of the Company.
c) Capital commitments and Contingent liabilities disclosed are in respect of items which exceed
Rs. I 00,000 in each case.
CIN - U63090WB2014GOl202678
I. Significant Accounting Policies and other explanatory information to rhe financial

statements ofVisakhapatnam Port Logistics Park Limited for rhe year ended 31 March 2023
d) Contingent liabilities pertaining to various government authorities are considered only on

conversion of showcause notices issued by them into demand.
2.14 Borrowing Cost
General and specific borrowing costs that are directly attributable to the acquisition, construction or
production of a qualifying asset are capitalised during the period of time that is required to complete and
prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use or sale. Other Borrowing Costs are recognised as expense
in the period in which they are incurred.
2.15 Cash Flow Statement
Cash Flow Statement as per Ind AS -7 is prepared using the direct method whereby profit/loss is adjusted
for the effects of transaction of a non -cash nature, any deferrals or accruals of past or future operating
cash receipts or payments and items of income or expenses associated with investing or financing cash
flows. The cash flows from operating, investing and financing activities of the company are segregated.
2.16 Prior period Items
Material prior period items which arise in the current period as a result of error or omission in the
preparation of prior periods financial statement are corrected retrospectively in the first set of financial
statements approved for issue after their discovery by
a) Restating the comparative amounts for the prior periods presented in which the error occurred, or
b) If the error occurred before the earliest prior period presented, restating the opening balances of
assets, liabilities and equity for the earliest prior period presented.
c) Any items exceeding twenty-five lakhs (Rs 25 Lakhs) shall be considered as material prior period
item.
d) Retrospective restatement shall be done to the extent that it is impracticable to determine either the
period specific effects or the cumulative effect of the error. When it is impracticable to determine
the period specific effects of an error on comparative information for one or more prior periods
presented, the company shall restate the opening balances of assets, liabilities and equity for the
earliest P.eriod for which retrospective restatement is practicable (which may be the current period)
CIN - U63090WB2014GOl202678

2. I 7 Earnings per share
Basic earnings per share are calculated by dividing the net profit or loss (excluding other comprehensive
income) for the year attributable to equity shareholders by the weighted average number of equity shares
outstanding during the year. The weighted average number of equity shares outstanding during the year
is adjusted for events such as bonus issue, share splits or consideration that have changed the number of
equity shares outstanding without a change in corresponding change in resources. For the purpose of
calculating diluted earnings per share, the net profit or loss (excluding other comprehensive income) for
the year attributable to equity shareholders and the weighted average number of equity shares outstanding
during the year are adjusted for the effects of dilutive potential equity shares.

~ Q_'
~ ! Adhip N Palchaudhuri
(DIN: 08695322)
~ (DIN: 10042140)
Director · Director
D.S. Tiwari
~
Partner
Membership No. 058824--·· ·' ·- ··- ·
uis A. Venu Prasad
Date: I 5.05.2023 Director Director
CIN - lJ63090WB2014GO1202678
II. Notes forming part oftlte Financial Statements as at 31st March 2023
I :- Pro1,erty, Plant and Ettuipment
(f in Lakhs)
Electricai Computers &
Building& Installation Furniture and Misc Plant & Railways Data
Particulars Factory Building Total
Sidings and Fittings Equipments Machineries sidings Processing
Equipments Units
Year ended 31st March 2022
Gross carrying amount
Op;;;ni11g Uruss Carrying Amount 9,862.38 3,746.12 1,121.02 334.43 10.o? 1,604.34 401.67 5.65 17,085.68
Add itio11s during th;;; y;;;ar 0.28 10.00 0.84 11.12
Lkduction / Adjustments during the year - - - - - - - - -
Closing Gross Carrying Amount 9,862.38 3,746.12 1,121.30 334.43 20.07 1,605.18 401.67 5.65 17,096.80
Accumulated Depreciation
Op;;;n i11g Accumulated D;;;preciation 1,056.26 344.28 226.96 74.09 2.97 214.49 53.70 2.53 1,975.28
Depr;;;ciation charg;;; during the year 369.82 142.90 112.11 33.44 3.43 106.96 26.78 1.60 797.04
Dedm:tion / Adjustments during the year - - - - - - - - -
Closing Accumulated Depreciation 1,426.08 487.18 339.07 I07.53 6.40 321.45 80.48 4.13 2,772.32
Nrt Carrying Amount as on 31.03.2022 8,436.30 3,258.94 782.23 226.90 13.67 1,283.73 321.19 1.52 14,324.48

Opc:ni11g Gross Carrying Amount 9,862.38 3,746.12 1,121.30 334.43 20.07 1,605.18 401.67 5.65 17,096.80
Addi tio11s during th;;; period 1.04 4.09 16.32 1.98 0.32 23.75
Deductio11 / Adjustments during the period 1.06 1.06
Closing Gross Carrying Amount 9,862.38 3,747.16 1,125.39 334.43 36.39 1,607.16 401.67 4.91 17,119.49
Upeni11g Aceurnulated Depreciation 1,426.08 487.18 339.07 107.53 6.40 321.45 80.48 4.13 2,772.32
Depreciation charge during the: Yc:ar 369.85 142.92 112.22 33.44 8.33 107. 13 26.78 1.48 802.15
Deduction / Adjustments during the Year 1.06 1.06
Closing Accumulated De1,reciation 1,795.93 630.IO 451.29 140.97 14.73 428.58 107.26 4.55 3,573.41
Net Carryiing
I
-
"' "l.~~n,.,.~ 13 l.03.2023 8,066.45 3,117.06 674.10 193.46 21.66 1,178.58 294.41 0.36 13,546.08
, re f .~ 'i .... ,
;: I"'. Ko ):)
. ~
~ ),,.,
~
CIN - V63090WB2014GOI202678
II. Notes forming part of the Financial Statements as at 31st March 2023
2 :- Right-of-use assets
(i) Amounts recognised in Balance sheet (f in Lakhs)
As at 31st March 2023
Right of Use Assets ROV Land
ROV Others Total
Leasehold
Gross Block
Balance as at April I, 2022 4,687.63 - 4,687.63
Additions during year - - -
Gross Block as at March 31st, 2023 4,687.63 - 4,687.63
Balance as at April I, 2022 544.38 - 544.38
Depreciation charge for the year I 81.46 - 181.46
Accumulated Depreciation as at 3 I st March, 2023 725.84 - 725.84
Net value of RO V Asset as at 31st March, 2022 - -
Net value of ROV Asset as at 31st March, 2023 3,961.80 - 3,961.80
(ii) The following is the break-up of current and non-current lease liabilities as at 31st March, 2023
As at As at
Lease liabilities 31st March 2023 31st March 2022
Current 1.56 1.69

Non Current 19.90 20.12
Total 21.46 21.81
The following is the movement in lease liabilities during the year ended 31st March, 2023
For the financial For the financial

Particulars
year 2022-23 year 2021-22
Balance at the beginning 21.81 22.13
Finance cost accrued during the year 1.80 1.82
Payment of lease liabilities 2. 15 2.14
Balance at the end 21.46 21.81
(iii) The following are amounts recognised in profit or loss:

For the year ended 31st March 2023
Particulars ROV Land
Rent
Leasehold
Depreciation expense of Right of Use assets I 81.46 -
Interest expense on Lease Liabilities 1.80 -
Rent expense in term of short term leases - 2.42
Total 183.26 2.42
For the year ended 31st March 2022

Particulars ROV Land
Rent
Leasehold
Depreciation expense of Right of Use assets 181.46 -
Interest expense on Lease Liabilities 1.82 -
Rent expense in term of short term leases - 2.39
Total 183.28 2.39
.. --~-~
CIN - U63090WB2014GOI202678
3 :- Other Intangible Assets - Computer Software

(t in Lakhs)
Other Intangible
Particulars Total
Assets

Opening Gross Carrying Amount 15.00 15.00
Additions during the year - -
Deduction / Adjustments during the year - -
Closing Gross Carrying Amount 15.00 15.00
Opening Accumulated Depreciation 1.87 1.87
Depreciation charge during the year 3.00 3.00
Deduction/ Adjustments during the year - -
Closing Accumulated Depreciation 4.87 4.87
Net Carrying Amount as on 31.03.2022 10.13 10.13

Opening Gross Carrying Amount 15.00 15.00
Additions during the year 17.60 17.60
Closing Gross Carrying Amount 32.60 32.60
Opening Accumulated Depreciation 4.87 4.87
Depreciation charge during the year 3.28 3.28
Closing Accumulated Depreciation 8.15 8.15
Net Carrying Amount as on 31.03.2023 24.45 24.45
-
-.~.- •. ...
CIN - U63090WB2014GOI202678
4 :- Capital Work-in-Progress
(i) : Details of Capital Work-in-Progress are as under:
(f in Lakhs)
As at Asat
Particulars 31st March 2023 31st March 2022
Capital Work-in-Progress - Tubewell, Tanks & Miscellaneous

- 16.32
Equipment
TOTAL 0.00 16.32
···~•--. -- . .
CIN - U63090WB2014GOl202678
5 :- Trade Receivables
('I' in Lakhs) ('I' in Lakhs)
As at As at As at
Particulars 31st March 2023 31st March 2022 31st March 2021
Considered Good - unsecured

Outstanding for a period exceeding six months - -
Others 149.96 238.53 145 .25
Total 149.96 238.53 145.25
------- ---· ------ ... -- --- - -- --- -- -
Outstandinl! for follow in!! periods from due date of Payment

Particulars
Less than 6 months 6 months - 1 vear 1 - 2 vears 2 - 3 vears More than 3 vears Total
Undisputed Trade receivables - considered good 149.96 - - - - 149.96
Undisputed Trade Receivables - which have significant increase in credit risk - - - - - -

Undisputed Trade Receivables - credit impaired - - - - - -
Disputed Trade Receivables- considered good - - - - - -
Disputed Trade Receivables - which have significant increase in credit risk - - - - - -
Disputed Trade Receivables - credit impaired - - - - - -
Trade Receivabl hedul 31st March 2022 t in Lakh

Outstandim, for follow in!! oeriods from due date of Pavment
Particulars
Less than 6 months 6 months - I year I - 2 years 2 - 3 years More than 3 vears Total
Undisputed Trade receivables - considered good 238.53 - - - 238.53
Undisputed Trade Receivables - which have significant increase in credit risk - - - -

Undisputed Trade Receivables - credit impaired - -
Disputed Trade Receivables- considered good - - - -
Disputed Trade Receivables - which have significant increase in credit risk -
Disputed Trade Receivables - credit impaired - - - -
CIN - U63090WB2014GO1202678
6 :- Cash & Cash Equivalents

(f in Lakhs)
As at As at
Particulars
31st March 2023 31st March 2022
Balances with Banks
In Current Account 0.97 73.63
Deposit Accounts' Balance
Cheques, Drafts on hand -
Cash on hand - -
Total 0.97 73.63
7 :- Other Balances with banks

(fin Lakhs)
As at As at
Earmarked balances with banks 19.00 312.00

Short-term Bank deposits -
Total 19.00 312.00
8:- Current Financial Assets - Others (f in Lakhs)

As at As at
Security Deposit 37.59 32.80

Accrued Interest- Receivable 1.26 7.44
Advances to Related Party:
-Visakhapatnam Port Authority - -
Total 38.85 40.24
9 :- Other Current Assets (Nori financial)

(fin Lakhs)
As at As at
Particulars
Statutory Dues Recoverable 238.44 508.65
Other Prepaid Expenses 16.64 4.95
Sundry expenses recoverable - 0.50
Total 255.08 514.10
·· ·· ••· -·
CIN - U63090WB2014GOI202678
10 :- Equity Share Capital
( i) Details of Authorised Share Capital are as under :

(? in Lakhs)
As at As at
Authorized:
14,00,00,000 Equity Shares of Rs. 10/- each 14,000.00 14,000.00

Total 14,000.00 14,000.00
(ii) : Details of Issued, Subscribed and Paid-up Share Capital are as under :
(? in Lakhs)
As at As at
Issued, Subscribed and Paid-up Share Capital:

13,50,64,963 Equity Shares of Rs. I 0/- each fully paid up 13,506.50 13 ,506.50
Total 13,506.50 13,506.50
(iii) :Reconciliation of number of shares outstanding at the beginning and end of the reporting year
are given below:
(? in Lakhs)
As at As at
Equity Shares at the beginning of the year 13,50,64,963 13,50,64,963

Add : Equity Shares allotted during the year - -
Equity Shares at the end of the year 13,50,64,963 13,50,64,963
(iv) Share holding pattern at the beginning and end of the reporting year are given below:
2022-23 2021-22
Details of the equity shares Held by:
No of shares % No of shares %
Balmer Lawrie and Company Limited 8, I 0,38,977 60 8, 10,38,977 60
Visakhapatnam Port Authority* 5,40,25,985 40 5,40,25,985 40
Shri Saurav Dutta (As nominee of Balmer Lawrie & Co Ltd) I 0 I 0
13,50,64,963 100 13,50,64,963 100
* Represents: 5,40,25,985 Equity shares of face value Rs. IO/- each have been issued to Visakhapatnam Port Authority against the consideration for
allotment of lease hold land and no further amount is received in cash.
(v) The Company has only one class of shares referred to as equity shares having par value of Rs 10 per share. Each holder of equity shares is entitled
to one vote per share.
CIN - U63090WB2014GOl202678
11 :- Other Equity
(i) Details of Other Equity are as under : (? in Lakhs)
As at As at
Particulars
Retained Earnings / Surplus {5,691.27) (4,636.96)

Total (5,691.27) (4,636.96)
(ii) : Movement in Other Equity are as under :

As at As at
Particulars
Balance at the beginning of the year {4,636.96) {3,740.25)
Add: Loss Transferred from Statement of Profit & Loss {1 ,054.31) (896. 71)
Total Retained Earnings/ Surplus (5,691.27) (4,636.96)
Non Current Financial Liabilities

12:- Borrowings
As at As at
Particulars
Borrowings:
Term Loan from SB! ** 7,705.74 8,415.92
TOTAL 7,705.74 8,415.92
Current Financial Liabilities -

12 (a) Borrowings:
As at As at
Particulars
Current maturities of Term Loan from SB! 706.00 646.29
TOTAL 706.00 646.29
13:- Lease Liabilities

As at As at
Particulars
Right of Use Liability:
Current lease liability 1.56 1.69
Non-current lease liability 19.90 20.12
21.46 21.81
CIN - U63090WB2014GOI202678
14:- Trade Payables

As at As at As at
Particulars
31st March 2023 31st March 2022 31st March 2021
Payable to Micro and Small Enterprises " 3.19 -
Other Trade Payables 89.42 51.93 50.95
89.42 55.12 50.95
Trade Payables ageing schedule as at 31st March 2023 ff in Lakhs)

Outstanding for following periods from due date of payment
Particulars
Less than I year I - 2 years 2 • 3 years More than 3 years Total
(i)MSME " " " " "
(ii) Others 85.69 3.73 " " 89.42

(iii) Disputed dues- MSME " " " " "
(iv) Disputed dues• Others " " " " "
Trade Payables ageing schedule as at 31st March 2022 (f in Lakhs)

Outstanding for following periods from due date of payment
Particulars
Less than I year I. 2 years 2 - 3 years More than 3 years Total
(i)MSME 3.19 " " " 3.19
(ii) Others 51.93 " " - 51.93
(iii) Disputed dues - MSME " " " " "
(iv) Disputed dues. Others " " " " "

CIN - U63090W82014GOI202678
15:- Current Financial Liabilities - Others

(t in Lakhs)
As at As at
Particulars
Payable to Related Party:
- Balmer Lawrie & Co Ltd 605.50 631.20
Others - Security Deposits / Other Deposit 237.25 288.38
Other Liabilities 17.69 24.64
Current maturities of Long-Term Borrowings 706.00 646.29
Total 1,566.44 1,590.51
Cl~ - U63090WB2014GOI202678
N'on Financial Liabilities:

16:- Other Current Liabilities (f in Lakhs)
Particulars As at As at
Statutory Remittances 4.68 3.94

Advance from Customers 0.21 0.03
Capital Creditors 438.13 466.29
Other Current Liabilities 1.05 1.76
Total 444.07 472.02
17:- Current Provisions

(f in Lakhs)
Particulars
As at As at
Provision for Audit fee 0.75 0.90

Provision for Employee Benefits 23 .05 16.85
Total 23.80 17.75
18:- Revenue from operations

(f in Lakhs)
For the year ended 31st For the year ended 31st
Particulars
March 2023 March 2022
Sale of services
Storage charges 961.27 1,047.23
Other service fees 274.45 347.86
Total 1235.72 1395.09
19:- Other Income

(t in Lakhs)
Particulars
Interest Income 18.57 8.64

Other Income 2.00 l.64
Total 20.57 10.28
20:- Cost of Material Consumed and Services Rendered

(t in Lakhs)
Particulars
Cost of Services Rendered 36.15 88.07
. - ·• .- ~-. Total 36.15 88.07
• .,~ J
CIN - U63090WB20UGOI202678
II. :'1/otes forming part of Financial Statements for the year ended 31st March 2023
21 :- Employee Benefits Expenses
(t in Lakhs)
Particulars
\-larch 2023 \-larch 2022
Salaries and Wages 61.20 53 .78

Contribution to Provident and other Funds 10.56 9.67
Staff Welfare Expenses 4.60 2.62
Total 76.36 66.07
22:- Finance Costs

(? in Lakhs)
Particulars
Interest on secured loan 810.43 747.88
Interest on unsecured loan 24. 18 24.15
Interest expenses on lease liabilities 1.80 1.83
Total 836.41 773.86
23:- Depreciation and Amortization Expenses

(? in Lakhs)
Particulars
Depreciation on Property, Plant and Equipment 802.16 797.02
Amortisation on Intangible Assets 3.28 3.00
Depreciation on Right-of-use assets 181.46 181.46
Total 986.90 981.48
24:- Administration and Other Expenses

(? in Lakhs)
Particulars
Repairs & Maintenance
For Buildings 6.61 8.28
For Plant & Machineries 30.54 38.96
For Others 5.37 3.40
Rent* 2.42 2.39
Rates & Taxes 19.76 15.08
Travelling and Conveyance Expenses 7.40 5.68
Printing and Stationery 0.58 1.40
Postage & Courier Charges 0.20 0.10
Electricity, Water & Gas Charges 204.16 192.59
Office Expenses 10.03 7.96
Insurance 24.30 24.69
Bank charges# 0.02 29.08
Payment to Auditor -
Statutory Audit Fees 0.60 0.60
Tax Audit Fees 0.15 0.15
For Other Services 0.45 0.45
Professional & other fees 3.77 19.96
Security service cost 39.50 35.41
Telephone and Internet Expenses 4.34 4.48
Miscellaneous Expenses 14.58 1.94
Total 374.78 392.60
*Rent represents guest house rent short term lease (i.e. less than 12
months).
CIN - U63090WB2214GOl222678
25 Additional Disclosures forming part of Financial Statements for the year ended 31st March 2023
25 .1 Company Overview:
Visakhapatnam Port Logistics Park Limited having its registered office at 21 , Netaji Subhas Road, Kolkata 700001 is a private Company
incorporated on 24 th July 2014.
The Company has been formed as a Joint Venture Company (Government Company) having equity participation percentage of 60:40
between Balmer Lawrie & Co Limited and Visakhapatnam Port Authority.
The Company is engaged in setting up, operating and maintaining a Multi Modal Logistics Hub (MMLH) on land provided on lease by
Visakhapatnam Port Authority for a period of 30 years.
25.2 Financial Risk Management:

The Company's activities expose it to credit risk, market risk and liquidity risk . The note relating to these risks are :
Credit Risk
Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The maximum exposure to credit
risk is primarily from trade receivables and other receivables. The credit risk has been managed based on continuous monitoring of credit
worthiness of customers, ability to repay and their past track record.
Market Risk
The Company started it's commercial operations in FY 2019-20 and based on the commercial projections and other factors , the
Company has adequately assessed commercial viability and addressed market risks.
Liquidity Risk
In assessing the company' s liquidity position, consideration shall be given to: (I) present and anticipated asset quality (2) present and
future earnings capacity (3) historical funding requirements (4) current liquidity position (5) anticipated future funding needs, and (6)
sources of funds. The Company aims to maintain the level of its cash and cash equivalents and undrawn term loan limits which can be
used in the event of an unforeseen interruption in cash flow. The company does not foresee any problems in discharging their liabilities
towards trade payables and other current liabilities as and when they are falling due.
25.3 Financial instruments by category (f in Lakhs)

For amortised cost instruments,carrying value represents the best estimate of fair value.
Particulars 31-Mar-23 31-Mar-22
Financial Assets
Trade Receivables 149.96 238.53
Cash and Cash Equivalents 0.97 73 .63
Other Balances with Bank 19.00 312.00
Others 38.85 40.24
TOTAL 208.78 664.40
Financial liabilities
Borrowings - Long Term 7,705.74 8,415.92
Borrowings - Short Term 330.03 230.03
Other financial liabilities (including Trade Payables) 1,655.86 1,645.61
TOTAL 9,691.63 10,291.56
25 .4 Term Loan
The Term Loan of the Company has been restructured under Reserve Bank of India's Resolution Framework for Covid I 9 related stress.
As per the new terms and conditions, the repayment period has extended by 2 years and has commenced from 30th September 2022 on
quarterly basis.
25.5 Unsecured Loan
During the year the company has availed an unsecured loan for Rs. I .00 crore from the Holding Company at an agreed interest rate is
9.05% p.a. The loan tenure is for a maximum period of3 years. Outstanding balance of loan is shown below:
CL'I - U63090WB2214GOI222678
25 Additional Disclosures forming part of Financial Statements for the year ended 31st March 2023
(f in Lakhs)
Particulars 31-Mar-23 31-Mar-22
Opening balance of loan 230 .03 230.03

Add : Fresh borrowing during the year 100.00 -
Less : Repayment of loan during the year - -
Closing balance of loan 330.03 230.03
25 .6 Transactions with Related Party

(f in Lakhs)
Significant influence
Type of Transactions Year Ending Holding Company Total
over the entity
Transactions during the financial year
(i) Operation related expenditure to be 31-03-2023 - - -

reimbursed 31-03-2022 0.37 - 0.37
31-03-2023 - 0.61 0.61
(ii) Purchase of goods
31-03-2022 1.98 16.32 18.30
(iii) Purchase of services 31-03-2023 1.31 - 1.31

31-03-2022 0.42 - 0.42
31-03-2023 100.00 - 100.00
(iv) Unsecured loan taken
31-03-2022 - - -
(v) Interest on unsecured loan expenses
31-03-2023 24.18 - 24.18
31-03-2022 24 .15 - 24.15
31-03-2023 - 2. 15 2.15
(vi) Lease rent expenses
31-03-2022 - 2. 15 2.15
(vii) Sales & Others

31-03-2023 79.83 - 79.83
31-03-2022 122.89 - 122.89
Balance at the end of financial year
31-03-2023 399.23 - 399.23
(viii) Net outstanding payable as on
31-03-2022 446.69 - 446.69
31-03-2023 330.03 - 330.03
(ix) Outstanding loan balance as on
31-03-2022 230.03 - 230.03
31-03-2023 206.27 - 206.27
(x) Interest on loan payable as on
31-03-2022 184.51 - 184.51
(xi) Advance/ Deposit for goods (net) as on

31-03-2023 - 1.64 1.64
31-03-2022 - - -
31-03-2023 13.83 - 13.83
(xii) Receivables
31-03-2022 47.89 - 47.89
For the financial year For the financial

25.7 Earnings per share
2022-23 vear 2021-22
Net Profit / (Loss) Available for Equity Shareholders (t in Lakhs) (1,054 31) (896.71)
Weighted Average Number of Shares for Basic Earnings Per Share 13,50,64,963 13,50,64,963
Weighted Average Number of Shares for Diluted Earnings Per Share 13,50,64,963 13,50,64,963
Nominal Value of Shares (Rs. Per Share) 10 10
Basic Earnings Per Share (0.78) (0.66)
Diluted Earnings Per Share (078) (0 66)
IThe Company is engaged in the business of operating a Multi Modal Logistics Hub and is managed Organizationally as a single business
25 ·8 segment. Accordingly the Company has a single primary reporting segment as envisaged in Ind AS-108 on "Segment Reporting".
CIN - U63090WB2014GOl202678
25.9 Key Financial Ratios

For the Year Ended For the Year Ended '¼, Change Compared Explanation for changes more than
SI. No. Name of the Ratio Items in Numerator Items in Denominator
31.03.2023 31.03.2022 to Previous Year 25% as compared to Previous Year
Repayment of Term loan & FITL
(a) Current Ratio Current Assets Current Liabilities 0.19 0.50 -62% installements from Sep'22 onwards and
reduction of DSRA deposit
(b) Debt-Equity Ratio Total Debts Shareholders Equity (Net Worth) 1.12 1.21 -7% NA
Interest & Lease Payments + Principal

(c) Debt Service Coverage Ratio PBDIT 0.54 0.92 -41% Increase in loan repayment
Repayments
Average Shareholders Equity (Average Increase in loss due lo decrease in
(d) Return on Equity Ratio Profit after taxes -0.03 -0.02 31%
Networth) revenue & interest rate increase
The Company does not

(e) Inventory turnover ratio Total Turnover Average value of inventory - NA
have any inventory
(t) Trade Receivables turnover ratio Total Turnover Average Trade Receivables 1.59 1.82 -12%
Cost of material consumed Reduction in Cost of Service rendered

(g) Trade payables turnover ratio Average Trade Payables 0.13 0.42 -70%
+ Cost of services rendered due lower handling of cargo
Lower working capital due to term loan

(h) Net capital turnover ratio Total Turnover Working Capital -0.62 -1 17 -47% installements repayment started from
Sep'22 onwards
(i) Increase in loss due lo decrease in
Net Profit Ratio Profit after taxes Total Turnover -0.85 -0.64 33%
revenue & interest rate increase
Net worth + Borrowings + Deferred Tax

(i) Return on Capital employed PBIT -0.025 -0 007 264% Increase in loss
Liability
(k) The Company does not

Return on investment Dividend Income Average investments NA
have any investment
CIN - U63090WB2014GOl202678
25.10 RESTATEMENT FOR THE YEAR ENDED 31 MARCH 2022 AND AS AT 1 APRIL 2021
In accordance with Ind AS 8, 'Accounting Policies, Changes in Accounting Estimates and Errors' and Ind AS 1,
'Presentation of Financial Statements', the Company has retrospectively restated its Balance Sheet as at 31
March 2022 and 1 April 2021 (beginning of the preceding period) and Statement of Profit and Loss for the year
ended 31 March 2022 for error in calculation of depreciation since the financial year 2018-19.
Reconciliation of financial statement line items which are retrospectively restated are as under:
RECONCILIATION OF RESTATED ITEMS OF BALANCE SHEET AS AT 1 APRIL 2021
Rs/lacs
Restatement as on 1 st
Note As at 1st April April 2021 for prior
Particulars As restated
No. 2021 periods in financial year
2022-23
ASSETS
Non-current assets
Property, Plant and Equipment 1 15,127.07 (16.66) 15,110.41
Right-of-use assets 2 4,324.71 4,324.71
Other Intangible Assets 3 13.13 <~ )\.. 13.13
Total Non-Current Assets 19,464.91 {:-, // fi ;Jl~8.25
t: S.>IEI0.>4
Current assets
Financial Assets
i) Trade receivables 4 145.25
\•
\;,~ /b *'
-........· - ~:., 145 .25
ii) Cash and Cash Equivalents 5 35.82 35.82
iii) Others 6 49.05 49.05
Non-Financial Assets - Others 7 604.91 604.91
Total Current Assets 835.03 835.03
TOTAL ASSETS 20,299.94 20,283.28
EQUITY AND LIABILITIES
Equity
Equity Share Capital 8 13,506.50 13,506.50
Other Equity 9 (3,723.59) (16.66) (3,740.25)
Total Equity 9,782.91 (16.66) 9,766.25
Liabilities
Non-Current Liabilities
Financial Liabilities
i) Borrowings 10 8,877.18 8,877.18
ii) Lease liabilities 11 20.30 20.30
Other Non-Current Liabilities
Total Non-Current Liabilities 8,897.48 8,897.48
Current liabilities
F-inancial Liabilities
.i),-€qwj5'Q~ 230.03 230.03
1.r
\~
~ ·" !J J -~)
... ·· •· -
~
CIN - U63090WB2014GOl202678
Restatement as on 1st
Note As at 1st April April 2021 for prior
No. 2021 periods in financial year
2022-23
ii) Trade Payables 12
(A) Total outstanding dues of micro
enterprises and small enterprises
(B) Total outstanding dues of
50.95 50.95
creditors other than micro
enterprises and small enterprises
iii) Lease liabilities 11 1.83 1.83
iv) Other Financial Liabilities 13 877 .40 877 .40
Non-Financial Liabilities - Others 14 448.06 448.06
Provisions 15 11.28 11.28
Total Current Liabilities 1,619.55 1,619.55
Total Liabilities 10,517.03 10,517.03
TOTAL EQUITY AND LIABILITIES 20,299.94 20,283.28
CIN - U63090WB2014GOl202678
RECONCILIATION OF RESTATED ITEMS OF BALANCE SHEET AS AT 31.03.2022
Restatement as on 31st
Note As at 31st March 2022 for prior
No. March 2022 periods in financial year
2022-23
ASSETS
Non-current assets
Property, Plant and Equipment 1 14,416.95 (92.47) 14,324.48
Right-of-use assets 2 4,143.25 4,143.25
Capital Work-in-Progress 3 16.32 16.32
Other Intangible Assets 4 10.13 10.13
Total Non-Current Assets 18,586.65 18,494.18
Current assets
Financial Assets
i) Trade receivables 5 238.53 238.53
ii) Cash and Cash Equivalents 6 73.63 73.63
iii) Other Balances with Bank 7 312.00 312.00
iii) Others 8 40.24 40.24
Non-Financial Assets - Others 9 514.10 514.10
Total Current Assets 1,178.50 1,178.50
TOTAL ASSETS 19,765.15 19,672.68
EQUITY AND LIABILITIES
Equity
Equity Share Capital 10 13,506.50 13,506.50
Other Equity 11 (4,544.48) (92.47) (4,636.94)
Total Equity 8,962.01 (92.47) 8,869.54
Liabilities
Non-Current Liabilities
Financial Liabilities ~ O <,i:'. , 4 ~
:~
i) Borrowings 12 8,415.92 ,:y 8,41~
I !}7 ~'
ii) Lease liabilities 13 20.12 I .;1 f,Jb.~bl'-''20 ,t,I
Total Non-Current Liabilities 8,436.04 \ :n ~~~Y4
.......-.
:t.~•
,. ,, ,-::,,
Current liabilities
Financial Liabilities
i) Borrowings 230.03 230.03
ii) Trade Payables 14 1.69 1.69
(A) Total outstanding dues of
micro enterprises and small 3.19 3.19
enterprises .
~
.. ..
CIN - U63090WB2014GOl202678
Restatement as on 31 st
Note As at 31 st March 2022 for prior
No. March 2022 periods in financial year
2022-23
(B) Total outstanding dues of
creditors other than micro
51.93 51.93
enterprises and small
enterprises
iv) Other Financial Liabilities 15 1,590.50 1,590.50
Non-Financial Liabilities - Others 16 472.01 472.01
Provisions 17 17.75 17.75
Total Current Liabilities 2,367.10 2,367.10
Total Liabilities 10,803.14 10,803.14
TOTAL EQUITY AND LIABILITIES 19,765.15 19,672.68
Reconciliation of restated items of Statement of Profit and Loss for the year ended.
31 March 2022
Loss as per previously audited financial statement (820.91)

Add: Depreciation as charged in the audited account 721.24
Loss before charging depreciation (99.67)
Less: Revised depreciation as per restatement in line with lndAS 8 797.04
Revised Loss as per restatement as per Ind AS 8 (896.71)
CIN - U63090WB2014GOI202678
26. Additional Disclosures forming part of Financial Statements for the year ended 31st March 2023
. ~
26.1 The company does not have any relationship as on 31 .03 .2023 or as on 31 .03 .2022 with struck off
Companies under section 248 of the Companies Act, 20 I 3 or section 560 of Companies Act, 1956
26.2 Details with respect to registration of charges or satisfaction with Registrar of Companies (ROC)
Reason
Whether for delay
Date Date of Amount
SI. Charge-holder name charge in
of creation modification of (Rs. in
No. and address satisfied registration
of charge charge Lakhs)
(Yes/ No) of
satisfaction
I State Bank of [ndia
Industrial Finance 24 th April 18 th May 2018 12,500 No
Branch 2018 ( I st modification) 12,500 No
Not
I, Middleton Street
Applicable
Jeevandeep Building,
2"tl floor, J l'h June 2021 9,151 No
Kolkata - 700 071
(2" d modification)
26.3 The company does not have any such case at the balance sheet date as on 31 .03.2023 or as on 31.03.2022,
where the borrowings from banks and financial institutions have been used otherwise than for the specific
purpose for which it was taken.
26.4
26.5 No proceeding have been initiated on or are pen

under the "Benami Transactions (Prohibition)
ended 31.03.2023 or year ended 31.03.2022.
~
26.6 The company has not been declared willful defaulter by any bank or financial Institution or other lender
during the year ended 31.03.2023 or year ended 31 .03 .2022.
26.7 Clause (87) of section 2 of the Companies Act,2013 read with Rule 2 (2) (d) of the Companies (Restriction
on number of Layers) Rules, 2017 is not applicable to the company, during the year ended 31.03.2023 or
year ended 31.03.2022, being a Government Company as referred to in clause (45) of section 2 of the
Act.
26.8. No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to
23 7 of the Companies Act, 2013 in respect of the company during the year ended 31.03.2023 or year
ended 31.03.2022.
26.9 The company has not advanced or loaned or invested funds (either borrowed funds or share premium or
any other sources or kind of funds) to any person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary
shall, whether directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the company (Ultimate Beneficiaries) or provide any guarantee, security
or the like to or on behalf of the Ultimate Beneficiaries during the year ended 31.03.2023 or year ended
31.03.2022.
CIN - U63090WB2014GOI202678 ~
26.10 The company has not received any fund from any person(s) or entity(ies), including foreign entities
(Funding Parties) with the understanding, (whether recorded in writing or otherwise) that the company
shall, whether directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries during the year ended 31.03.2023 or year
ended 31.03.2022.
26.11 The company has not traded or invested in Crypto currency or Virtual Currency during the year ended
31.03 .2023 or year ended 31.03.2022.
26.12 The company has no such transactions not recorded in the books of account which have been surrendered
or disclosed as income during the year ended 31.03.2023 or year ended 31.03.2022 in the tax assessments
under the Income-tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income-
tax Act, 1961) and there is no immunity either to not disclose the same. There are no such cases of
previously unrecorded income and related assets which have been recorded in the books of account during
the year ended 31.03.2023 or year ended 31.03 .2022.
26.13 Previous year's figures have been re-grouped or re-arranged wherever so required to make them
comparable with current year figures.
For ADR& ASSOCIATES For and on behalf of

~~~ ~
~ Adhip N Palchaudhuri
(DIN: 08695322)
Saurav Dutta
(DIN: 10042140)
Director Director
D.S. Tiwari
Partner
~
.. ~·-- ~'
Romon S A. Venu Prasad
-
Place: Kolkata (DIN: 081\ 0802) (DIN: 09207446)
VISAKHAPATNAM
PORT LOGISTICS PARK LTD
A Balmer Lawrie -Visakhapatnam Port Trust JV

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VISAKHAPATNAM

_ _ _ _ _ _ _ ,.. d . ..I .. ---• -- _. _

PORT LOGISTICS PARK LTD

Audited Annual Accounts

Visakhapatnam Port Logistics Park Limited

Balance Sheet as at 3 1st Ma rc h 2023

TOTAL EQUITY AN D LIABILITIES 17,996. 19 19,672.68 20,283.28

For ADR & ASSOCI ATES For and on behalf of

VIII !Other Comprehensive Income for the year - -

X IEarnings per equity share (Face Value of Rs. 10/- each)

For ADR & ASSOCIATES For and on behalf of

A ICash Flow from Operating Activities

Net Profit/ (Loss) before tax (1,054.31) (896.71)

B ICash Flow from Investing Activities

Fixed Assets - Capital Work in Progress ( 16.32)

C ICash Flow from Financing Activities

Payment of lease liabilities (0.35) (0.32)

Net Changes in Cash & Cash Equivalents (A+B+C) (72.66) 37.82

Cash & Cash Equivalent Opening Balance 73.631 35.82

.\. Equity Sh.are Capital {fin Lak.hs:)

13.506.50 0 13,506.50 0 13,506.50

C~) Previous reporti ng: period

13,506.50 0 13,506.50 0 13,506.50

8. Other Equity ff io Lakh•)

(2) Previous reporting period 31.03.2022 Reserves and Surolus

For ADR & ASSOClA TES For and on behalf of

Visakhapatnam Port Logistics Park Limited

I. Significant Accounting Policies and other explanatory information to the financial

I. GENERAL INFORMATION AND STATEMENT OF COMPLIANCE WITH IND AS

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.1 Historical cost convention

I. Significant Accounting Policies and other explanatory information to the financial

2.2 Operating Cycle

2.3 Property, plant and equipment (including Capital Work-in-Progress)

I. Significant Accounting Policies and other explanatory information to the financial

2.4 Intangible Assets

I. Significant Accounting Policies and other explanatory information to the financial

2.5 Impairment of Assets

2.6 Financial Instruments

Recognition, initial measurement and De recognition

Classification and subsequent measurement offinancial assets

I. Significant Accounting Policies and other explanatory information to the financial

I. Significant Accounting Policies and other explanatory information to the financial

2.8 Revenue recognition

Revenue towards satisfaction of a performance obligation is measured at the amount of transaction

Dividend from investments in shares on establishment of the Company's right to receive.

2.9 Employee benefits

I. Significant Accounting Policies and other explanatory information to the financial

I. Significant Accounting Policies and other explanatory information to the financial

2.11 Foreign currency translation

a) Functional and presentation currency

b) Transactions and balances

2.12 Income taxes

I. Significant Accounting Policies and other explanatory information to the financial

2.13 Provisions, Contingent liabilities and Capital commitments

I. Significant Accounting Policies and other explanatory information to rhe financial

d) Contingent liabilities pertaining to various government authorities are considered only on

2.14 Borrowing Cost

2.15 Cash Flow Statement