Dholera Progress Record

Official figures, with the date and the page they came from

Newest figure on this site 30 June 2026
Sheet 09 / Balance

What does the Dholera company own, and what does it owe?

What the company owns, and what it owes

This is what the company owns and what it owes, for three audited years, taken line by line from its own balance sheet. Most of what it owns is land recorded at what it cost, not at what anyone thinks it is worth today, and that distinction matters more here than anywhere else on this site. DICDL held total assets of 6 57 299.35 INR lakh at 31 March 2025 against total equity of 5 90 925.01 INR lakh, both audited. Nearly all of it is land carried at cost. The three year table below gives every line with its source page.

01

The balance sheet, line by line

Balance sheet, three financial years

Balance sheet, three financial years
Line itemFY 2022-23FY 2023-24FY 2024-25UnitSource file and pageCK
Property plant and equipment18 098.5517 196.1336 194.71INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Capital work in progress36 283.6243 466.4127 955.14INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Intangible assets14.179.971 074.34INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Trade receivables non currentnot publishednot published2 228.66INR lakhdicdl_ar25.pdf p67
Other financial assets non currentnot publishednot published340.26INR lakhdicdl_ar25.pdf p67
Other non current assetsnot publishednot published8 774.79INR lakhdicdl_ar25.pdf p67
Total non current assets63 486.3269 518.0276 567.9INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Inventories4 91 114.044 47 797.454 61 766.68INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Trade receivables current0.2213 646.915 687.55INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Cash and cash equivalents788.45941.321 470.04INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Other balances with banks1 00 869.921 06 083.291 10 015.12INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Total current assets5 94 910.745 71 149.215 80 731.45INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Total assets6 58 397.066 40 667.236 57 299.35INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Equity share capital5 68 332.655 68 332.655 68 332.65INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Other equity21 849.5417 441.0122 592.36INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Total equity5 90 182.195 85 773.665 90 925.01INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Other financial liabilities non current32 158.632 336.4831 794.76INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Deferred tax liability2 696.66884.181 719.52INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Total non current liabilities34 888.8633 250.5333 556.11INR lakhAR_FY2023-24.pdf p62; dicdl_ar25.pdf p67
Trade payables micro and small enterprisenot published829.14920.69INR lakhAR_FY2023-24.pdf p63; dicdl_ar25.pdf p67
Trade payables other than micro and small1 743.561 068.867 739.79INR lakhAR_FY2023-24.pdf p63; dicdl_ar25.pdf p67
Other financial liabilities current14 915.5517 29421 227.83INR lakhAR_FY2023-24.pdf p63; dicdl_ar25.pdf p67
Total current liabilities33 32621 643.0432 818.23INR lakhAR_FY2023-24.pdf p63; dicdl_ar25.pdf p67
Total liabilities68 214.8754 893.5766 374.34INR lakhAR_FY2023-24.pdf p63; dicdl_ar25.pdf p67
  • checked: the figure and its date are carried exactly as printed, and the page is cited.
  • transcribed from a page render, because that table has no text layer, then arithmetically cross checked.
  • a target stated in the source, which is not a reading.

Source: Dholera Industrial City Development Limited, 9th Annual Report 2024-25 and Dholera Industrial City Development Limited, 8th Annual Report 2023-24. Audited. All figures in INR lakh unless the unit column says otherwise.

02

What the inventory is made of

Inventory is the largest number on this balance sheet and it is not stock in a warehouse. It is land held for sale plus the development cost capitalised into it, carried at cost.

Inventory sub lines, as at 31 March 2025

Inventory sub lines, as at 31 March 2025
QuantityValueUnitDate referenceTagSource file and pageCK
Inventory land plots under development2 72 535.42INR lakhat 31 March 2025OFFICIALdicdl_ar25.pdf, p86 (printed p75)
Inventory land development cost work in progress1 89 219.74INR lakhat 31 March 2025OFFICIALdicdl_ar25.pdf, p86 (printed p75)
Inventory land development cost roads and services1 77 112.94INR lakhat 31 March 2025OFFICIALdicdl_ar25.pdf, p86 (printed p75)
Inventory land filling of plots2 455.77INR lakhat 31 March 2025OFFICIALdicdl_ar25.pdf, p86 (printed p75)
Inventory water stock11.52INR lakhat 31 March 2025OFFICIALdicdl_ar25.pdf, p86 (printed p75)

Source-document inconsistency, left uncorrected: Note 44 (dicdl_ar25.pdf p111) lists land development cost sub-lines for FY2023-24 that differ from Note 10 (p86) for the same items (Roads & Services 1,88,346.61 vs 1,58,497.79), and its own FY2023-24 column does not sum to the total it prints. The dataset uses the Note 10 figures, which tie to the balance sheet and sum correctly. The variance is flagged, not silently resolved.

Source: note 10 of the DICDL annual report FY2024-25, page 86, transcribed from a page render and re-summed against the printed total.

03

Claims and commitments

Contingent liabilities and commitments

Contingent liabilities and commitments
QuantityValueUnitDate referenceTagSource file and pageCK
Spml infra arbitration claim against company7 752INR lakhat 31 March 2024OFFICIALAR_FY2023-24.pdf, p104 (printed p98)
Commitments for capital asset and common infrastructure development cost30 765.39INR lakhat 31 March 2024OFFICIALdicdl_ar25.pdf, p101 (printed p90)
Commitments for capital asset and common infrastructure development cost34 108.71INR lakhat 31 March 2025OFFICIALdicdl_ar25.pdf, p101 (printed p90)
Nicdcl cumulative project development expenditure recoverable31 794.76INR lakhat 31 March 2025OFFICIALdicdl_ar25.pdf, p101 (printed p90)

Water Treatment Plant contract terminated 2021-01-01. DICDL counter-claim 2,22,723.22 lakh as printed. The contract at issue was a water treatment plant. Both the claim and the counter claim are recorded as the report prints them, and neither has been adjusted for the passage of time.

Source: AR_FY2023-24.pdf, p104 (printed p98) and the commitments note of each report.