(n) Provisions, Contingent Liabilities and Contingent Assets
(i) Provision is recognized in the accounts when there is a present obligation as a result of past
event(s), and it is probable that an outflow of resources will be required to settle the
obligation and a reliable estimate can be made. Provisions are not discounted to their present
value and are determined based on the best estimate required to settle the obligation at the
reporting date. These estimates are reviewed at each reporting date and adjusted to reflect
the current best estimates.
(iii) No provision has been made in the financial statements for the doubtful debt and loan and
advances.
As per our report of even date
For M/s. J C RANPURA & CO For and on behalf of the Board of
Chartered Accountants Hi-Green Carbon Limited
Firm's Registration No. 108647W
SD/- SD/- SD/- SD/-
Ketan Y Sheth Amitkumar Bhalodi Shaileshkumar Makadia Sagar Siyani
Partner Managing Director & CFO Director Company Secretary
Membership No. 118411 DIN : 0410150 DIN : 0593049 M. No F13202
UDIN: 25118411BMHVGH8293
Place: Rajkot Place: Rajkot
Date: 27 May, 2025 Date: 27 May, 2025
In the Previous Year, ^ 3,893.50 Lakhs proceeds were received as Securities Premium from the
issue of shares and incurred expenses of ^ 394.69 lakhs for issue of shares and the said has been
written off againts share premium received in such issue of shares.
Nature of Res erve and Surplus
Securities Premium
Securities premium is used to record the p remium on iss ue of shares. This re serve shall be utilised
in accordance with the provisions of the Companies Act, 2013.
Accumulated Profit & Loss Account
Accumulated Profit & Loss are the profit/ (Loss) that the Company has earned/incurred till date
less any transfer to general reserve, dividends or other distribution paid to shareholders.
1. Company has invested in 50,00,000 Equity Shares of Rs. 10/- each of its subsidiary Company
Shantol Recycling Private Limited, incorporated on 16 April, 2023 [% of ownership held by the
company as at 31 March 2025 - 100%] having CIN U38300GJ2023PTC140169 having main
objective as waste collection. treatment and disposal activities.
2. On 01.10.2024, Company has invested in 17,00,000 equity shares of Rs. 10/- each in subsidiary
Company Samsara Recycling Private Limited, incorporated on 27 July, 2022 [% of ownership
held by the company as at 31 March 2025 - 100%] CIN U37100GJ2022PTC134287 having main
objective of processing of rubber scrap and manufacturing of crumb rubber.
3. Company has invested in 5,100 Equity Shares of Rs. 10/- each in the Subsidiary Company
Green Valley Hydrocarbon Private Limited, incorporated on 06 August, 2024 [% of ownership
held by the company as at 31 March 2025 - 51%] CIN U39000GJ2024PTC154134 having main
objective of remediation activities and waste management services.
The company is not holding any Benami property as defined under Prohibition of Benami
Property Transactions Act, 1988.
43 Wilful Defaulter
The board of directors of the Company is of the opinion that the Company has, till the date of
signing of this financial statement, not been declared as willful defaulter by its banks or financial
institution
Reasons for Variances
(a) Significant drop in Current Assets as compared to increase in Liabilities result into decline of
current ratio.
(d) Average Shareholders' Equity has significantly increased this year as a direct result of the
successful public offer and the securities premium generated from the previous year. Meanwhile,
profit after tax has remained steady, demonstrating our financial resilience.
(g) The trade payables experienced a substantial increase during the year.
(h) Due to reduction of Current assets during the year.
48 Disclosure where company has given loan or invested to other person or entity to lend or
invest in another person or entity
No funds have been advanced or loaned or invested (either from borrowed funds or share
premium or any other sources or kind of funds) by the Company to or in any other person/s or
entity/ies including foreign entity/ies (“Intermediaries"), with the understanding, whether
recorded in writing or otherwise, that the Intermediaries shall lend or invest in party (“Ultimate
Beneficiaries) identified by or on behalf of the Company.
49 Disclosure where company has received fund from other person or entity to lend or invest
in other person or entity
The Company has not received any fund from any party(s) (“Funding Party/ies"), 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 by or on behalf of the
Company (“Ultimate Beneficiary") or provide any guarantee, security, or the like on behalf of the
Ultimate Beneficiary.
50 Undisclosed Income
The Company has not disclosed any transaction not recorded in books of account that has been
surrendered or disclosed as income during the year in the tax assessments under the Income-tax
Act, 1961 and also not recorded any previously unrecorded income and related assets .
Nature of CSR activities
In the Current Year, the company has incurred expense of corporate social responsibility for the
purpose of promotion of education and general utilities.
In the Previous Year, the company had incurred expense of corporate social responsibility for the
purpose of promotion of education and general public utility in the villages near the factory and
plantation of trees at the nearby areas of the factory.
52 Details of Crypto Currency
The Company has not traded or invested in Crypto Currency or Virtual Currency during the
financial year ended on 31 March, 2025.
53 Other Statutory Disclosures as per the Companies Act, 2013
a) The company has not entered into any scheme of arrangement appro ved by the Competent
Authority in terms of sections 230 to 237 of the Companies Act, 2013.
b) There are no dividends proposed to be distributed to equity and preference share holders.
c) The Board of the Company is of the opinion that the assets other than Property,plant and
equipment, Intangible assets and Non-current investments have a value on realization in the
ordinary course of business at least equal to the amount at which they are stated.
As per our report of even date
For M/s. J C RANPURA & CO For and on behalf of the Board of
Chartered Accountants Hi-Green Carbon Limited
Firm's Registration No. 108647W
SD/- SD/- SD/- SD/-
Ketan Y Sheth Amitkumar Bhalodi Shaileshkumar Makadia Sagar Siyani
Partner Managing Director & CFO Director Company Secretary
Membership No. 118411 DIN : 0410150 DIN : 0593049 M. No F13202
UDIN: 25118411BMHVGH8293
Place: Rajkot Place: Rajkot
Date: 27 May, 2025 Date: 27 May, 2025
| 