Practus’ finance and accounting services assisted the infrastructure developer in developing the financial models on priority and helping STPL prepare financial statements.
|Client Name||Industry||Ownership||Management||No. of Employees||Size||Project Duration|
|Mona Tolls||Industrials||PE Backed||Professional||~400||$100 million||36 months|
About The Company
Mona Tolls is one of India’s fastest-growing infrastructure developers. The group has diversified to include infrastructure, EPC, realty, technology, and natural resources in its fold. The group has a turnover of around $10.7 million and is currently executing 32 projects in 15 states in India.
- Finalization of books of accounts of the company for FY 2016-17.
- Finalization of audit of the company for the FY 2016-17.
- Represent the accounts to the board of the company and get their approval.
- The team has also assisted the company with the finalization of the valuation model of all road projects, represented the same to auditors and management, and got their approval.
- Prepared documents for lenders and NHAI and represented the same in meetings.
- Prepared the budget for FY 2017-18 and submitted the same to the company.
- Practus deep-dived and resolved the open issues (it involved discussion with multiple stakeholders and bringing best practices).
- Assisted company to finalize the books .
- Assisted STPL with the preparation of financial statements and annexures for submission to the auditor .
- Most of the accounts were dormant. Practus found out the ways and means of obtaining the required documents.
- Successfully developed the financial models on priority and successfully got the approval of both the client and auditor.
- The IND-AS financials were made error-free to the satisfaction of all stakeholders. Also, MAT liability has been saved based on the classification and valuation of INDAS.
- Weekly update on the process of share transfer-NOC to Mona Polls.