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Rachana Infrastructure Ltd. Notes to Accounts
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You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (Rs.) 61.77 Cr. P/BV 0.71 Book Value (Rs.) 46.89
52 Week High/Low (Rs.) 56/26 FV/ML 10/100 P/E(X) 15.06
Bookclosure 26/09/2024 EPS (Rs.) 2.21 Div Yield (%) 0.00
Year End :2025-03 

(l) Provisions, Contingent Liabilities and Contingent Assets:

A provision is recognized when the Company has a present obligation (legal or constructive) as
a result of past event, it is probable that an outflow of resources embodying economic benefits
will be required to settle the obligation and a reliable estimate can be made of the amount of
the obligation.

The amount recognized as a provision is the best estimate of the consideration required to
settle the present obligation at the end of the reporting period, taking into account the risks
and uncertainties surrounding the obligation. When a provision is measured using the cash
flows estimated to settle the present obligation, its carrying amount is the present value of
those cash flows (when the effect of the time value of money is material). Contingent Assets
are not recognized, but disclosed in the financial statements, if an inflow of economic benefits
is probable.

In respect of GST for FY 2019-20 & 2020-21, a search was initiated by Director General of GST
Intelligence (DGGI) in the premises of the company. As a result of search, the company made
liable to reverse input tax credit of Rs. 383.08 for the F.Y. 2019-20 & 20-21. Out of the same,
the company has paid Rs. 50.00 through duty reversal and Rs. 163.00 paid through cash
ledger. Management has taken advice of GST consultant and according to their advice an
application was filed with GST department stating that the said payment of Rs. 213.00 shall be
treated as duty payment under protest. After taking professional consultation, the management
is confident of getting back Rs. 213.00 which is accounted under the head Loans and
Advances. Hence, total amount of 383.08 is considered as contingent liability as the matter is
subjudice.

(m) Earnings per Share (EPS):

Basic Earnings per share is calculated by dividing the net profit after tax by the weighted average
number of equity shares outstanding during the year.

Diluted earnings per share adjust the figures used in determination of basic earnings per share to
take into account the conversion of all dilutive potential equity shares. Dilutive potential equity
shares are deemed converted as at the beginning of the period unless issued at a later date.

(n) Cash and cash equivalents:

Cash and cash equivalents include bank balance, cash on hand, demand deposits with banks,
other short term highly liquid investments with original maturities of three months or less.

(o) Cash Flow Statements:

The cash flow statement has been prepared under the indirect method as set out in Accounting
Standard (AS 3) statement of cash flows. For the purpose of the statement of cash flows, cash
and cash equivalents consist of cash and short-term deposits, as defined above, net of

(t) Impairment of Assets:

The carrying amounts of assets are reviewed at each balance sheet date if there is any indication
of impairment based on internal/external factors. An impairment loss is recognized wherever the
carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the
greater of the assets' net selling price and value in use. In assessing value in use, the estimated
future cash flows are discounted to their present value at the weighted average cost of capital.
After impairment, depreciation/amortization is provided on the revised carrying amount of the
asset over its remaining useful life.

(u) Event Occurring after the Balance sheet Date (AS 4)

In the case of M/s Fernas construction as disclosed in the above Notes 12 and Note 14
respectively, recovery suit under MSMED Act, 2006 was filed by the company. On 27th May 2025,
i.e. after the balance sheet date. The arbitration award has been passed and management is in
the process of analyzing the legal recourse available for further action as the award amount is
lower than the expected recoverable amount. Considering the provisions as prescribed under AS-
4, the event has occurred after the balance sheet date and before the date on which financial
statements are approved by the Board, the amount of Rs. 851.56 Lakh has been disclosed as
Disputed considered Good as at 31.3.2025. Considering the above, since the ultimate outcome
cannot be estimated upto the date of audit report, the related accounting treatment with respect
to the above and its related impact on the financial statements will be taken into consideration in
the next financial year once the final decision is taken by the management as regards
challenging / non challenging the said Arbitral Award.

(B) Notes on Accounts:

1) Balances of Depositors, Sundry Debtors, Creditors, and Loans & Advances are subject to
confirmation and reconciliation, if any. In many cases where confirmations are not available,
management has given approval after verification of transactions reflected in ledger account.

Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on
the basis of information collected by the Management. This has been relied upon by the auditors.

12) The Company is a Level-I Enterprise as defined in applicability of Accounting Standards to Corporate
Entities. Accordingly, the Company has complied with the Accounting Standards applicable to Level-I
Enterprise.

Signature to notes 1 to 27

For, For and on behalf of the Board of Directors

B J Patel & J L Shah
Chartered Accountants
FRN: 104148W

CA Darshan B Patel (Partner)

Membership No.: 108350
UDIN: 25108350BMJOZL1240

Bhaminiben Mehta Girishkumar Raval

Director Managing Director

DIN:01646822 DIN:01646747

Date: 29/05/2025

Ishita Raval Himali M. Thakkar

Place: AHMEDABAD


 
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