Goel Construction Company Limited

This section primarily discusses industry overview, macroeconomic scenarios, and historical economic data, rather than specific details about the issuer's operations. It details various projections for the global and Indian economies, including GDP growth forecasts, inflation trends, and the impact of trade tariffs. It also provides sector-specific performance data for the Indian economy, such as growth in industrial, services, and agriculture sectors, as well as trends in Investment and Consumption.

The provided text details various economic indicators related to India, including quarterly and yearly growth trends, inflation scenarios, and the broader economic outlook. It covers fluctuations in quarterly growth rates, changes in inflation across different goods, and the impact of monetary policy decisions by the RBI. Furthermore, it discusses the growth drivers such as the expanding middle class and the government's focus on infrastructure development, alongside projections for India's economic growth and global standing.

The section discusses India's economic growth, particularly the shift towards the service sector, and the impact of urbanization on infrastructure demand. It details the growth in urban population and the resulting need for improved infrastructure, including housing, water, and transport. Furthermore, the text covers trends in Foreign Direct Investment (FDI) into India, noting facilitation measures that have streamlined investment processes. The construction sector is highlighted as a vital part of the economy, supporting various industries and having a significant impact on Gross Value Added (GVA).

The construction sector faces downside risks such as constrained credit flow and the impact of rupee depreciation on input costs, although the long-term outlook remains positive due to government initiatives like the National Infrastructure Pipeline and PM Gati Shakti. The sector shows strong growth, with the total economic output projected to rise significantly by FY 2030. Key segments like 'Dwellings, Other Buildings & Structures' are expected to remain dominant, while non-residential and infrastructure components are set for significant expansion. Growth is further propelled by government programs and private sector participation in commercial real estate and industrial development.

The text provides an overview of various sectors in India, including cement production, the power sector, and the dairy industry. Cement production has shown consistent growth in India, with various states contributing significantly to the output. The power sector is characterized by a mix of energy sources, with thermal power being the largest component. The dairy sector has seen substantial growth, positioning India as the world's largest milk-producing nation. The text also details the structure of the dairy industry, including cooperative and Milk Producer Companies, and the market scenario for milk production.

The text discusses capital expenditure trends across several key Indian sectors, including the cement, power, and dairy industries, highlighting expansion phases driven by infrastructure demands and government initiatives. It details significant investment in the cement industry for new plants, a surge in capex in the power sector for renewable and thermal capacity, and investment in the dairy sector to enhance processing and cold chain infrastructure. Furthermore, the text covers the infrastructure construction segment, detailing the role of transport and logistics, and the need for robust infrastructure to support India's economic growth goals.

The provided text discusses trends and challenges within the Indian education and healthcare sectors, alongside an overview of the competitive landscape in the construction industry. It details significant capital expenditure trends in both sectors, noting investment amounts and project announcements. Furthermore, it outlines various impediments to construction project execution, such as procedural formalities, financing hurdles, and regulatory complexities. The competitive construction market is characterized by fragmentation, intense price competition, and the influence of external factors like economic cycles and technological advancements.

The company operates as a construction contractor specializing in the execution of industrial plant and infrastructure projects. Its primary focus is on delivering construction services with a strong emphasis on quality, timely execution, and adherence to project specifications. The company has experience in various sectors, including the construction of cement plants, power plants, and dairy plants. They manage the complete project lifecycle, ensuring quality and adherence to client specifications through their understanding of industrial construction requirements and commitment to safety.

The company offers civil construction services across several industrial sectors, including Cement Plants, Power Plants, and Dairy Plants, covering everything from greenfield to brownfield projects. These services encompass various specialized civil and structural works such as clinkerization units, Balance of Plant (BOP) components, and dairy facilities, ensuring compliance with relevant standards. The company has a strong track record, having completed numerous projects and maintaining long-standing relationships with customers. The company demonstrates strong financial performance, with revenue growing at a CAGR of 47.62% over the last three fiscal years.

The company's financial performance metrics show various margins and returns, with details provided for comparison across different periods. The company emphasizes that its financial stability allows it to undertake larger and more complex projects. A critical aspect of their operations involves the effective management of equipment and fleet, which is essential for maintaining construction timelines and quality standards. The company invests in acquiring new equipment and fleet to ensure continuous availability and operational efficiency. Furthermore, the company aims to diversify its project mix beyond cement plants into sectors like power plants, dairy plants, and steel plants. Geographically, the company is expanding its presence across 12 Indian states and plans to enter new markets. The company operates as a construction contractor primarily focused on industrial plants and infrastructure projects.

The company utilizes various raw materials for its projects, procuring principal materials like cement, steel, and aluminum on a spot basis from approved vendors, while other materials are sourced locally. The company engages with a diverse customer base across the cement, power, and dairy industries, with top customers accounting for a significant portion of the revenue. The business operates under various regulatory frameworks concerning construction workers, contracts, and employment laws. The company also maintains insurance coverage for operational hazards and has received several awards recognizing its performance in the construction industry.

This section primarily details various Indian laws and regulations applicable to the company's operations, covering labor laws, tax legislation, environmental regulations, intellectual property laws, and foreign exchange rules. It outlines specific acts concerning bonus payments, standing orders, gratuity, sexual harassment at the workplace, and various laws related to the handling of goods, services, and environmental impact. Furthermore, it lists numerous other labor laws, tax acts, and regulations that may apply to the company's business activities.

The company, originally incorporated in 1997, underwent a significant change in its legal status and name in 2024. The company's registered office location has been updated, and the Memorandum of Association has seen several amendments regarding the name and authorized share capital over the last ten years. The company has a history of executing numerous large infrastructure projects, including in the construction of cement, dairy, and power plants, and has received several awards recognizing its safety and performance. The company currently does not have any significant financial partnerships, subsidiaries, or joint ventures.

The document outlines various contingent liabilities and related party transactions for the company. It details civil litigation proceedings involving the promoters and key management personnel, as well as various financial liabilities such as GST matters and TDS demands. Furthermore, the document provides extensive details on related party transactions, including remuneration, salaries, and various financial flows, categorized by different financial years.

The risk factors section highlights several uncertainties related to the execution of ongoing projects, including potential delays, modifications, or cancellations due to various reasons beyond the company's control. These implementation risks encompass issues such as client approvals, design revisions, scope changes, and potential disputes with sub-contractors or workers. Furthermore, there are risks concerning the timely delivery of raw materials, equipment, and skilled manpower, as well as potential issues with regulatory approvals and financial requirements that could render projects unprofitable. Additionally, the order book may not accurately reflect future results, as it represents secured but uncompleted contractual commitments.

The company's order book is concentrated in cement plants, power plants, and dairy projects, with potential risks arising from contract cancellations, scope changes, or client defaults which could impact realized earnings. There is a risk of not being able to secure future work orders due to competition and the difficulty in meeting pre-qualification criteria. Furthermore, significant revenue is derived from a limited number of clients, increasing revenue volatility. The company also faces risks related to the obsolescence or breakdown of owned equipment and fleet, which can increase costs, and potential liabilities arising from service defects or insurance coverage inadequacies. Finally, there are concerns regarding delays in regulatory filings and the untraceability of certain corporate records.

The company faces risks related to negative cash flows, which could negatively impact its business and financial condition. There are ongoing legal proceedings involving the company, its promoters, and directors, which pose a risk to its reputation and financial standing. Furthermore, the company relies on third-party sub-contractors, exposing it to performance issues, cost overruns, and potential liability claims. Operational risks include dependence on contract labor availability, reliance on raw material suppliers, and exposure to delays or price fluctuations in construction materials. Finally, the company has a history of delays in filing GST returns, which may lead to regulatory scrutiny and penalties.

The company faces various risks related to external environments, including economic, political, and social instability that could impact projects. Operational risks include hazards at construction sites, potential equipment failure, and accidents that could cause loss of life or property. There are concerns regarding the reliability of insurance coverage, the traceability of key personnel's educational qualifications, and potential non-compliance with statutory and regulatory requirements, including labor laws and environmental regulations. Furthermore, the company is exposed to risks from related party transactions, competition, seasonal variations in work progress, and difficulties in securing future funding.

The company faces several risks related to financial claims, operational dependencies, and market conditions. Risks include potential write-downs due to unestablished reserves, liability for substandard work from suppliers, and dependence on economic health in key sectors like Cement, Power, and Dairy. Furthermore, the company is vulnerable to economic downturns, credit tightening, and changes in industry needs or technology. There are also risks concerning interest rate fluctuations, the ability to manage growth and execution of strategies, and challenges in adapting to changing market requirements. Finally, there are concerns regarding intellectual property protection, promoter control, and the increased burden of compliance as a public listed company.

The prospectus outlines several risks related to shareholder rights, including potential dilution of ownership due to pre-emptive rights restrictions under Indian law. There are concerns about the enforceability of judgments obtained in foreign courts against the company and its officers, as India may not recognize such judgments. Furthermore, the business is exposed to political instability, changes in economic liberalization policies, and various macroeconomic factors affecting India. The company is also subject to various regulatory and economic uncertainties beyond its control.

This section provides a summary of the company's financial statements for the years ended March 31, 2025, 2024, and 2023, detailing changes in equity and liabilities. The data includes figures for share capital, reserves, borrowings, provisions, and various assets and current liabilities. The text also includes details regarding the company's incorporation history and the details of its Board of Directors.

This section details various compliance and advisory roles related to the issuance process, including the identification of key personnel such as the Chief Financial Officer and Company Secretary, and the listing of various service providers like Book Running Lead Managers, Legal Counsel, and Auditors. It also outlines procedures for investor grievances, the roles of different intermediaries like Syndicate Banks, Registered Brokers, and Depository Participants, and the regulatory filings involved in the offer process. Furthermore, it specifies the methodology for the book-building process and the allocation of securities to different investor categories.

This section details various aspects of the offer process, including allocation proportions, bidder participation rules, and the role of underwriters and market makers. It specifies minimum allocation percentages for different bidder categories and outlines restrictions on bid revisions for various investors. Furthermore, it covers the regulatory framework, such as compliance with SEBI ICDR Regulations, and the obligations of market makers regarding quoting, inventory management, and potential penalties.

The document details outstanding litigation involving the Company, its subsidiaries, promoters, and directors. Key civil matters include a commercial recovery suit against Goel Construction Co. involving Rs. 51.37 lakhs, a pending appeal in the Delhi High Court regarding the same suit, and a construction contract dispute with Haryana State Roads and Bridges Development Corporation totaling Rs. 10.78 crores. Additionally, the Company is involved in a labor dispute with Assistant Labour Commissioner U.P. regarding unpaid wages. The Company also faces tax proceedings for direct and indirect taxes, with a total of nine cases valued at Rs. 9.06 lakhs, and has outstanding dues to micro, small, and medium enterprises amounting to Rs. 205.37 lakhs.

The document lists certificates of registration for various Goods and Services Tax Acts across multiple Indian states, including Rajasthan, Odisha, Madhya Pradesh, and the Centre, all valid until cancelled. It also details a series of contractor licenses for project sites in Madhya Pradesh, Uttar Pradesh, Rajasthan, Chhattisgarh, and Gujarat, issued under the Contract Labour (Regulation and Abolition) Act, 1970, and Central Rules, 1971, with expiry dates ranging from November 2025 to April 2026.

The document lists various registrations under the Employees' Provident Fund and Employees' State Insurance Acts, as well as Inter-State Migrant Worker Licenses for a project site in Singrouli and another in Odhpur. All listed registrations are marked as valid until cancelled, indicating ongoing compliance with these statutory requirements.

The document lists various certificates and registrations issued to the Company and its subsidiaries to validate their eligibility for construction projects in Rajasthan. These include certificates for employer registration under the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Central Rules, 1998, and Udyam Registration Certificates under the Micro, Small and Medium Enterprises Development Act, 2006. The text also details other approvals such as Import Export Codes, Business Registration Numbers, and registrations under the Punjab Shops and Commercial Establishments Act and Rajasthan Shops and Commercial Establishments Acts, 1958, which are valid until their respective cancellation dates.

The document details the company's registration of Labour Identification Numbers for its registered office and multiple project sites across India, all valid until cancelled. It also confirms the company's eligibility for an Initial Public Offer by listing its post-offer paid-up capital as less than 25 Crores Rupees. The section further outlines the company's compliance with SEBI ICDR regulations, including its status as an unlisted issuer, its track record of three years, and its operating profit history for the last three financial years.

The document confirms that the Company, its promoters, and directors are in compliance with SEBI ICDR Regulations, including no outstanding convertible securities, no debarred status, and no pending insolvency or winding-up petitions. It details the Company's financial health as of March 31, 2025, showing a net worth of Rs. 13,158.82 Lakhs and EBITDA of Rs. 5,790.50 Lakhs, which satisfies the track record requirements. The Company has obtained BSE SME listing permission and confirms that the offer is fully underwritten with a minimum market making period of three years. Additionally, the document outlines legal liabilities for fraud under Section 447 of the Companies Act, 2013, and requires all applicants to confirm their eligibility to invest.

The document details the price information of past IPO offers handled by Srujan Alpha Capital Advisors LLP, including specific issues like Dharni Capital Services Limited, Kontor Space Limited, and Sodhani Academy of Fintech Enablers Limited. It provides a summary statement showing that in the fiscal year 2024-25, the firm raised a total of ₹95.77 crores across four IPOs, with one trading at a discount and one at a premium. The table lists the issue names, sizes, issue prices, and percentage changes in closing prices for the 30th and 90th days after listing for various issues.

The document outlines the listing dates for several companies, including Kontor Space Limited, Esprit Stones Limited, Sodhani Academy of Fintech Enablers Limited, Popular Foundations Limited, Nexxus Petro Industries Limited, and Shri Ahimsa Natutals Limited. It also provides a breakdown of past issues handled by Srujan Alpha Capital Advisors LLP, showing that only one Main Board IPO was completed in the 2022-23 financial year, while four were completed in 2024-25. The notes clarify that rights issues managed by BRLMs are excluded from the summary statement of disclosure.

The document states that the company has no pending investor complaints as of the date of the prospectus. It confirms that the company has not received any investor complaints during the three years preceding the filing of the document. The section also notes that the company has not sought any exemptions from complying with any provisions of securities laws granted by SEBI.

The document outlines the pricing and allocation mechanisms for the Employee Discount, specifying that eligible bidders pay the bid amount net of the discount at the Cut-Off Price or the Cap Price less the discount. It details the minimum application value of ₹2,0, the allotment in multiples of 400 shares, and a minimum of 200 allottees. The text also establishes exclusive jurisdiction in Jaipur, India, and clarifies that shares are not registered in the US or other jurisdictions, with nominee provisions under the Companies Act, 2013.

This section outlines the Board's power to withhold dividends if nominees fail to register themselves or transfer shares within 90 days, clarifies that no transfer restrictions exist for the pre-Offer capital, and details the SEBI ICDR Regulations governing the withdrawal of the offer, including procedures for notifying stakeholders and refunding amounts if the offer is cancelled.

The document outlines the regulatory framework for the company's Initial Public Offering (IPO) under SEBI's ICDR Regulations, specifying that price band revisions require a minimum three-day extension while force majeure or banking strikes allow for a similar extension. It details an indicative timetable for the offer, including the opening and closing dates for the bid period, fund unblocking, and trading commencement. The text also addresses specific compensation liabilities for the Bidder if ASBA funds are delayed in unblocking, ranging from ₹10 per day to 15% per annum of the bid amount depending on the nature of the delay. Finally, it specifies the submission and revision windows for bids, distinguishing between individual investors, QIBs, and non-institutional bidders, with strict time limits and restrictions on bid revisions.

The document outlines the eligibility criteria for migrating from the SME Exchange to the BSE Main Board under SEBI (ICDR) Regulation, 2018. Key requirements include a paid-up capital of over ₹10 Crores, minimum market capitalization of ₹25 Crores, and promoter holding of at least 20% of equity shares. Financial parameters such as positive operating profit for two out of three years, a net worth of Rs. 15 Crores, and a track record of at least three years on the SME Exchange are mandatory. Additionally, the company must have no material regulatory actions, debarments, or insolvency proceedings, and must maintain a minimum of 250 public shareholders.

The document outlines the legal framework for the equity share allotment, noting that the Allotment of shares to non-residents is subject to Government of India or RBI approvals. It specifies that the company has no outstanding warrants or new financial instruments that would entitle shareholders to acquire shares after the offer. The structure of the offer is detailed as comprising a fresh offer of 30,84,400 shares and an offer for sale of 7,23,600 shares by selling shareholders, totaling 38,8,000 equity shares at an offer price of ₹263 per share. The offer includes specific reservations for eligible employees, market makers, and non-institutional bidders, with a net offer of 35,44,000 shares allocated to the public.

This section outlines payment terms for anchor investors and defines the allocation structure for the QIB (Qualified Institutional Buyer) portion of the offer. It specifies that full bid amounts are payable by anchor investors at submission, while other bidders may have funds blocked via UPI mechanisms. The text details how the QIB portion can be allocated to anchor investors, domestic mutual funds, and the public through a book-building process, with specific caps on the number of investors and minimum allotments per investor. It also mentions that up to 60% of the QIB portion can be allocated to anchor investors on a discretionary basis.

The document outlines the bidding process for equity shares, specifying that the beneficiary account must be held in joint names and that only the First Bidder's signature is required on the Bid cum Application Form. It details the payment terms for full bid amounts and the allocation of shares to FPIs with specific PAN structures, noting that such bids are collated and distributed proportionately. The text also references SEBI regulations regarding minimum application sizes for individual investors and allotment limits for non-institutional investors, while requiring bidders to confirm their eligibility under applicable laws. Additionally, it addresses the extension of the bid period if the price band is revised and clarifies that discrepancies between electronic and physical bid data will be resolved in favor of the data from the Stock Exchanges.

The document outlines three distinct phases of the UPI (Unified Payments Interface) mechanism for public offerings, with timelines extending from 2019 to 2023. Phase I was initially applicable until March 2019, then extended to June 2019, before being replaced by Phase II starting July 2019. Phase II was initially set for three months but was extended by SEBI to March 2020, and finally replaced by Phase III which became mandatory starting December 2023. The text also details specific procedural requirements for UPI applications, including the appointment of a nodal officer, SMS alerts for fund blocking, and compensation obligations for delayed redressal.

The document outlines the allocation of equity shares in the Anchor Investor Portion, Net QIB Portion, and Non-Institutional Portion, specifying that under-subscription in the QIB Portion cannot be met with spill-over from other categories. It details the distribution rules for Individual Investors, Non-Institutional Bidders, and Eligible Employees, including specific application size thresholds and the mandatory ASBA process for all non-Anchor investors. The text also notes that equity shares will be allotted only in dematerialized form and requires investors to comply with tax and KYC regulations.

The document outlines the procedural requirements for settlement reconciliation between Sponsor Banks, issuer banks, and NPCI, mandates for a web portal for intermediaries to monitor bid performance, and stock exchange validations of electronic bid details against depository records. It further specifies that Equity Shares are being offered outside the United States in offshore transactions and that participation by Promoters, Directors, and related parties is restricted, with specific exclusions for Anchor Investors such as mutual funds, insurance companies, and FPIs associated with the BRLM.

The document outlines eligibility criteria for overseas corporate bodies (OCBs) to participate in the offer, noting that while OCBs are generally ineligible, the RBI permits them to invest as non-resident entities under specific conditions such as prior government or RBI approval. It details the application requirements for individual bidders, mandating a minimum of 400 equity shares and ensuring the application price does not fall below ₹2.00 lakhs. For non-institutional applicants and QIBs, the minimum application size is determined by the amount exceeding ₹2.00 lakhs, with a cap on the total application relative to the net offer size. The bidding process involves setting a price band and minimum bid lot size, with submissions accepted by the BRLM and SCSBs within a specified period, typically three to ten working days.

This section outlines the bidding process for equity shares, specifying that bids can be placed at any price within a defined price band, with cut-off prices prohibited for certain bidder categories. It details the submission requirements for individual and ASBA bidders, including the use of cheques or demand drafts and the blocking of amounts for ASBA participants. The document also clarifies that anchor investors must pay the same price as other applicants and restricts the BRLM and its affiliates from purchasing shares except for underwriting obligations.

This section outlines the ASBA (Application by Sale Before Auction) mechanism, requiring individual applicants to use UPI channels and validate fund blocking before submission. It mandates that Bidders submit forms to designated SCSB branches to block funds equal to the application amount prior to entry into the electronic system. The document specifies that all Bidders must provide their PAN details, as the DP ID and Client ID must also match those in the Depository database, otherwise the application will be rejected. Additionally, it details the specific terms and conditions for Anchor Investors, including eligibility criteria, minimum bid sizes, and allotment limits based on the total allocation value.

The document outlines the payment terms for Anchor Investors, specifying that the Offer Price is payable within two working days of the bid closing date, with the Anchor Investor Offer Price applied if the standard price is lower. It details the lock-up period for Anchor Investor shares, requiring 50% to be locked for 90 days and the remaining 50% for 30 days. The text clarifies that the BRLM and its promoters will not participate in the Anchor Investor Portion, and anchor investor bids are not considered multiple bids. Additionally, it restricts Anchor Investors from using the ASBA process and mandates that eligible NRIs follow specific account authorization procedures for repatriation or non-repatriation bids.

This section outlines the specific eligibility requirements and rejection criteria for various types of bidders participating in the IPO, including FPIs, limited liability partnerships, banking companies, SECSBs, insurance companies, and alternative investment funds. It details mandatory documentation such as registration certificates and investment committee approvals for certain entities, while also specifying investment limits and exposure norms for banks, insurers, and venture capital funds to ensure compliance with applicable laws and regulations.

The document outlines the regulatory framework for participation in the IPO, specifying that insurance companies and Systemically Important NBFCs must comply with IRDAI and RBI regulations respectively. It details specific eligibility criteria for Anchor Investors, including a 60% cap on QIB participation and strict minimum bid requirements of ₹200 lakhs. The text explains the allocation mechanics for Anchor Investors, which vary based on total allocation size, and mandates that all non-Anchor investors must use the ASBA process to block funds. Additionally, it clarifies the payment terms, noting that the full offer price of ₹263 per share is payable upon application, while the ASBA mechanism ensures funds are held in escrow until allotment.

The document outlines the final stages of the book-building process for an IPO, detailing the submission of bids, price discovery mechanisms, and allotment procedures. It specifies that bids can be withdrawn or revised until the offer closing date, with restrictions on QIBs and Anchor Investors. The process involves electronic uploads on a Bidding Platform where demand is aggregated to determine the final offer price and anchor investor allocation. The document also includes detailed instructions for individual investors and FPIs regarding UPI mandates, ASBA account requirements, and compliance with SEBI regulations.

This section outlines the rules for bidder registration, bid submission, and the subsequent allotment process for equity shares in an Indian public offer. It details technical rejection criteria such as mismatches between bid amounts and payable amounts, incorrect PAN or DP ID details, and timing violations relative to cut-off times. The document explains that bids are treated as multiple if submitted by multiple members of the same syndicate and describes the allocation procedures based on category, including specific thresholds for individual and institutional investors. It also covers the allotment of Anchor Investors, including discretionary limits and minimum share allocations, and the flow of events from bid closure to final allotment advice dispatch.

This section outlines the procedural requirements for submitting Bid Cum Application Forms, including the use of Demographic Details, acknowledgement protocols, and the right to reject applications based on technical grounds or for impersonation. It details the Company's undertakings regarding the expeditious handling of complaints, full refund of subscription amounts if allotment is delayed, and the requirement to file a fresh draft Offer document if the Offer is withdrawn after the closing date. The section also specifies that funds for refunds must be made available to the Registrar, and it mandates that the Company must not proceed with the Offer until the Equity Shares are listed or funds are refunded.

The company has six directors on its Board, including one Chairman and Managing Director, two Executive Directors, and three Non-Executive Independent Directors, with one of the Independent Directors being a woman. The document details the particulars of the Board members, including their qualifications, experience, and directorships. Key personnel relationships are disclosed, indicating familial ties between some directors and senior management personnel. Furthermore, the document outlines the terms of appointment and remuneration for the Executive Directors.

The management section details various aspects concerning the company's directors, including remuneration, shareholding, and related party transactions. It outlines sitting fees for Independent and Non-Executive Directors, confirms the absence of a performance-linked bonus or profit-sharing plan for directors, and discusses the deemed interest of directors based on remuneration, sitting fees, and shareholdings. The document also confirms that directors have not been involved in certain regulatory violations and lists recent changes in the Board composition and appointments.

The company has constituted a 'Stakeholders’ Relationship Committee' to address shareholder grievances, which includes resolving various issues such as share transfers, dividend receipts, and adherence to service standards. Key Managerial Personnel (KMP) and Senior Management Personnel (SMP) details are provided, including appointments and designations. Several individuals have been appointed or re-appointed as directors or in senior roles, with various dates for such changes being disclosed. The company confirms that no service contracts, contingent or deferred compensation, or employee stock option schemes are in place for KMP and SMPs. Furthermore, the company commits to complying with Insider Trading regulations and has established a code of conduct for employees.

The provided text snippet is a heading indicating the section dedicated to the Management Organisation Structure within the company's documents.

The company has a group of promoters, including Mr. Purushottam Dass Goel, who serves as the Chairman and Managing Director. The list also includes several other promoters, and details regarding their shareholding are available in the 'Capital Structure' section starting on page 74. The document details the personal and professional profiles of several individuals within the promoter group.

The section introduces three individuals as Promoters of the Company: Mrs. Isha Goel, Mrs. Nirmala Goel, and Mrs. Suman Goel, detailing their personal information, including age, date of birth, address, permanent account numbers, education, and professional experience. The text also lists numerous individuals who are identified as promoters, including Mr. Purushottam Dass Goel, Mr. Arun Kumar Goel, and others, noting that some former promoters have ceased to be promoters due to requests for name removal following the cessation of directorship and share transfers. Furthermore, the text outlines various provisions regarding the interest of promoters, related party transactions, and undertakings concerning the non-payment of amounts to promoters.

This section lists various individuals who are related to the promoters, including spouses, brothers, and sisters, across different family lines. It also details a list of entities that form part of the Promoter Group based on shareholding criteria, including various proprietorships and LLPs. Furthermore, the document outlines the criteria for identifying 'group companies' and clarifies that the company currently has no group companies as defined by the regulations. Finally, it discusses the company's dividend policy, stating that dividend payments depend on various factors and that the company has not declared or paid dividends in the preceding three financial years.

This section details the Independent Auditor Examination Report on restated financial information for Goel Construction Company Limited, covering financial statements for the years ended March 31, 2025, 2024, and 2023. The report confirms that the financial information was prepared in accordance with various regulations, including the Companies Act, ICDR Regulations, and ICAI Guidance Notes. The examination relied on audit reports from the company's predecessor auditors, and the management prepared the information based on audited financial statements. The report concludes that the restated financial information incorporates necessary adjustments and complies with the relevant legal and regulatory frameworks.

This section provides details regarding the financial statements and the individuals associated with the company, Goel Construction Company Limited. It includes a cash flow statement summary, details about the auditors, and information on the ownership structure of the company. The financial information was prepared for inclusion in the Red Herring Prospectus and approved by the directors for an Initial Public Offering (IPO).

The provided text details various financial balances, including reserves, borrowings, provisions, and assets/liabilities, but it does not explicitly identify individual promoters, their shareholding percentages, or any specific adverse regulatory actions against them. The data focuses on balance sheet movements and loan details.

This section details various financial and operational aspects of the company, including investments, receivables, inventories, cash flows, and expenses over several fiscal years. Key financial data includes investments in mutual funds and equity shares of other companies, as well as various trade receivables and inventory movements. The data also covers cash and bank balances, various loans, revenue from operations, and detailed breakdowns of costs, employee benefits, finance costs, and other operating expenses.

This section details various financial and operational data, including expenses, profit figures, and earning per share calculations for the company. It also outlines contingent liabilities, such as counter guarantees and GST-related matters, and provides information on related party transactions. The data includes details on various directors, their associated entities, and the nature of transactions conducted with related parties during the financial years ending March 31, 2025, 2024, and 2023.

The provided section details various transactions with related parties during the year ended March 31, 2023, listing numerous individuals and entities involved. The section also includes disclosures regarding employee benefits, such as Provident Fund and ESIC contributions, and various analytical ratios. Furthermore, it contains numerous compliance notes related to the company's financial reporting, such as the absence of certain property holdings, transactions with struck-off companies, and details on Corporate Social Responsibility (CSR) spending.

This section details various financial and accounting ratios, including profit after tax, earnings before interest, tax, and depreciation, as well as metrics related to the company's net worth and asset structure. It also provides information on the company's borrowings, specifically listing details of secured loans from HDFC BANK, including the amount outstanding, sanction dates, disbursement dates, interest rates, and prepayment conditions.

This section primarily details various loan agreements, mainly term loans from HDFC Bank, concerning the purchase of CEMID equipment and vehicle loans. The details cover different loan amounts, dates, and specific penalty structures for premature full payment, which vary depending on the time elapsed since the first EMI. Several agreements are scheduled to mature in 2026, while others have maturity dates extending to 2027. Additionally, there is mention of a term loan from Axis Bank Limited for CEMID equipment, which involves foreclosure and part prepayment charges.

This section details various financial arrangements, primarily revolving around term loans and equipment purchases from Axis Bank Limited and HDFC Bank. Several clauses specify foreclosure charges, such as 5% of the principal plus GST, for certain facilities. HDFC Bank term loans for vehicle purchases have provisions for premature full payment penalties, with charges varying based on the time elapsed since the first EMI, ranging from 2% to 5% on the principal outstanding. Furthermore, there are specific provisions for part prepayment penalties for some of these loans.

This section details various terms related to premature part or full payment on HDFC Bank Term Loans for the purchase of CEMID equipment. The terms vary based on the time frame: for premature payment within 12 months from the first EMI, the interest rate is 4% on the principal outstanding, while for payments exceeding 12 months from the first EMI, the rate is 2% on the principal outstanding. The text lists several instances where these payment terms were applied, with different loan amounts and maturity dates.

This section details various term loans and credit facilities availed by the company from HDFC Bank, primarily concerning the purchase of CEMID equipment. The records show different loan amounts, dates, and maturity periods, with various stipulations regarding premature full payment. Several entries relate to different loan tenures and repayment terms, and there is also a mention of a Bank of Baroda Overdraft facility. The total utilized loans are also disclosed.

The section details various unsecured loans extended to the company by different directors and others, with the total outstanding amount being ₹69.43 Lakhs as of July 31, 2025. The loans are categorized into 'Loans and Advances from Directors' and 'Loans and Advances from Others,' listing specific amounts for Purushottam Dass Goel, Arun Kumar Goel, Soni Goel, and several others. The text also confirms that the company has not defaulted on any loan installments or interest payments in the past three financial years.

This section details various financial performance metrics, including revenue, income, expenses, and profit figures across different financial years. Revenue from Construction Works showed a significant increase, while Other operating revenue decreased. Total expenses rose, driven by increases in material costs, employee benefits, and other operational costs. Profit before tax and after tax also showed substantial growth, with corresponding increases in tax expenses. The section also provides cash flow summaries from operating, investing, and financing activities, along with details on financial indebtedness and potential events of default from lenders.

The provided text details various financial and regulatory matters, including counter guarantees, GST issues, TDS demands, and labour disputes, with various resolutions or pending replies from the GST department. It also mentions that the company has faced penalties that have been quashed by the courts. Furthermore, the text discusses aspects related to the dependence on suppliers and customers, showing significant reliance on a small number of key entities for both purchases and revenue.