Disclosures:
The Company has provided for Deferred Tax in accordance with the Accounting Standard on "Income Taxes" (IND AS 12) issued by the institute of Chartered Accountants of India. The details of deferred tax assets and liabilities of the Company as on the date of Balance Sheet are as given above:
Disclosures:
The principal amount remaining unpaid as at March 31, 2025 in respect of enterprises covered under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED) is ' 109.68 (March 31, 2024 ' Nil). The interest amount computed based on the provisions under Section 16 of the MSMED is ' 9.10 (March 31,2024 ' Nil)
The list of undertakings covered under MSMED was determined by the Company on the basis of information available with it after getting confirmation from Suppliers.
Disclosures:A) Secured Loans:
1 The Rate of interest for loans repayable on demand from consortium of banks ranges from MCLR 0.65% to 1.20%. The rate of Interest on convertible FCNRB demand loan ranges from SOFR 1.50% per annum.
2 Interest rate for the Bill Discounting facility ranges from 6.65% to 8.55%
3 Security:
Working Capital Loans from Consortium Bankers consisting of State Bank of India, Union Bank of India and Indian Overseas Bank are secured by first pari passu charge by way of hypothecation of inventories, book debts and other current assets of the Company, and second pari passu charge on the fixed assets of the Company. The promoter directors have extended their personal assets as securities i.e. land, plots and buildings etc.
4 Guarantees:
All the above loans are guaranteed by the Promoter Directors.
B) Unsecured Loans:
1 Loans from Promoter Directors disclosed here are short term in nature. There are no specified terms and conditions.
2 The credit facilities with NBFC's and Banks against purchase bill discounting (PBD) for working capital requirement. The interest rate is MCLR is 8.75%
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NOTE 36
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| CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)
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(' in Lakhs)
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Particulars
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As on March 31, 2025
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As on March 31, 2024
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|
1 Contingent Liabilities:
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|
|
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a. Claims against company not acknowledged as debt
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|
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I. Claims arising from disputes not acknowledged as debts-Sales Tax Act (against which Pre-deposit of '139.04 Lakhs made (P.Y. Pre-deposit ' 139.04 Lakhs)
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179.76
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179.76
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II. Claims arising from disputes not acknowledged as debts-GST ISD Input credit Tax(Pre deposit Nil)
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17.36
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-
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III. Claims arising from disputes not acknowledged as debts-GST Transitional credit TRAN 1 (against which Pre-deposit of ' 60.58 Lakhs made (P.Y. Predeposit Nil)
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373.39
1901.91
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666.37
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2 Commitments:
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|
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a. Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of Advances)
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632.31
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NOTE 37| SEGMENT REPORTING:
Operating segment is defined as a component of an entity which earns revenue, whose operating results are regularly reviewed by Chief Operating Decision Maker and for which discrete financial information is available. The Chairman and Managing Director of the Company, who regularly reviews the entity's operating results to make decisions about allocation of resources and assessment of performance has been identified as the Chief Operating Decision Maker of the Company. As the Company is engaged in manufacture and sale of chemicals, the same has been identified as the sole operating segment.
The transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the year-end are unsecured.
The paid-up equity share capital of the Company as on financial year ended March 31, 2025 is 1,346.31 Lakhs divided into 6,73,15,284 Equity Shares of ' 2/- each and financial year ended March 31,2024 is ' 1,310.54 Lakhs divided into 6,55,27,195 Equity Shares of ' 2/- each. The Public Shareholding in equity capital as on March 31,2025 is 30.80% and as on March 31,2024 is 31.64%.
NOTE 4o[ EMPLOYEE BENEFITS 1. Defined Contribution Plan:
The company makes contributions towards provident fund and employee state insurance regularly at the applicable rates based on the salaries of the eligible employees. The obligation of the Company is limited to making the contributions and there is no further contractual or constructive obligation. The following are the details of contributions made during the year which are debited to Statement of Profit and Loss:
NOTE 46| OTHER STATUTORY INFORMATION
i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
ii) The Company does not have any transactions with companies struck off.
iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
v) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.
vi) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
vii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
viii) The Company doesn't have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961
Figures for the previous year have been regrouped, rearranged, and reclassified, wherever considered necessary, to conform to the classification/ presentation of the current year.
NOTE 48| APPROVAL OF FINANCIAL STATEMENTS
The financial statements have been approved for issue by the Board of Directors on May 15, 2025
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