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Solex Energy 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.) 1360.63 Cr. P/BV 10.34 Book Value (Rs.) 121.87
52 Week High/Low (Rs.) 1787/631 FV/ML 10/125 P/E(X) 32.38
Bookclosure 27/09/2024 EPS (Rs.) 38.91 Div Yield (%) 0.00
Year End :2024-03 

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

'@ Amounts unpaid to Micro and Small Enterprises vendors on account of retention money have not been considered for the purpose of interest calculation. j The Company has shown Net of Debtors and Creditors in case of Sub-Contract (Back to Back) Contracts

k. Balance of sundry Debtors/ Creditors/Loans/Advances and deposits are subject to confirmation, reconciliation and necessary adjustments.

i. Previous year's figures have been re-grouped or re-arranged wherever necessary to make them comparable with the current year figures.

m. Cash & Cash equivalents (for purpose of cash flow statement)

Cash & Cash equivalents in the cash flow statement comprise cash at bank, cash in hand and fixed deposit with bank.

n. Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax for the period by the number of the equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit / (loss) after tax as adjusted for dividend, interest and other charges to expenses or income relating to the dilutive potential equity shares, by the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

o. Impairment of Assets

Assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. In assessing value in use, the estimate future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessment ofthetime value of moneyand the risks specific to the asset. In determiningfairvalue less costs of disposal, recent market transactions aretaken into account. Forthe purpose of assessing impairment, assets are grouped atthe lowest levels forwhich thereare separately identifiable cash inflows which are largely independent ofthe cash inflows from other assets or groups of assets(cash -generating units).

p. Inventories

Inventories are stated at lower of cost and net realisable value. Costs of inventories are determined on a FIFO basis.

Raw materials is stated at Cost. Raw Materials cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition. FinishedGoods isvalued based on methodwhich carried bythemanagementwhich includescost ofdirect materials, labourand proportion of manufacturingoverheads basedon the normal operating capacity.

Traded Goods cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and condition.

q. Segment Reporting

The Company is a manufacturer of solar photo-voltaic .modules as well as in the Engineering, Procurement and Construction (EPC) in the solar energy market, wherein the manufactured modules are utilized. Based on the "management approach" as defined in AS-17 Segment Reporting, the Chief Operating Decision Marker (CODM) evaluates the Company's performance and allocates resources based on an analysis ofvarious performance indicators bythe overall business segment, i.e. the performance ofthe EPC projects. As the allocation of resources and profitability of the business is evaluated by CODM on an overall basis, with evaluation into individual categories to understand the reason for variations, no separate segments have been identified. Accordingly no additional disclosure has been madeforthe segment revenue, segment results and the segment assets and liabilities.

r. The Company has borrowed fund from Banks on the basis of security of current assets and the company has filed monthly statement of current assets with the Bank and the same are generally in agreement with books of accounts.

7.1 Annexure to borrowing

Security Details : Working capital loans repayable on demand from banks is secured by hypothecation of :

Joint deed of Hypothecation with first pari-passu charge of all consortium member Banks on entire stock of raw material, Plant & Machinery and Book Debts, both present and future (excluding machinery/ Equipments hypothecated to other financial institutions"

- Pari-passu charge by equitable mortgage of house situated at B/2,Punit Socity,Opp Mahi Canal, Nr. Vaikuth Apartment, Behind N.D.D.B Auditorium ,Anand-Sojitra Road, Anand, admeasuring 112.87 sq.mtrs,R.S.No.1606/2/P ,FP No.124/A,TP Seheme No.4 of Anand Nagar Palika standing in the name of Kalpeshkumar Ramanbhai Patel.

- Pari-passu charge by equitable mortgage of leasehold factory land bearing R.S.No.755/p (original R.S.No.755),Plot No.131/A admeasuring 821 sq mtrs and construction thereon admeasuring of 1653.63 sq mtrs,GIDC Industrial Estate, Vithal Udyognagar,Tal.and Dist. Anand belonging to Mr. Kalpeshkumar Ramanbhai Patel.

- Pari-passu charge by equitable mortgage of lease hold property situated at R.S.No.755 paiki Plot No.131/B in GIDC Industrial estate, Vithal Udyognagar admeasuring 696.01 sq.mtrs and construction thereon admeasuring of 500.05 Sq. Mtr.belonging to Mr. Kalpeshkumar R Patel.

- Pari-passu charge by equitable mortgage of lease hold property situated at R.S.No 770/P2, Ground floor shop no G-90, Jai Bhavani security services admesuring 18.58 sq . mtr. situated at "Pooja estate" bh. Dmart, Nr Janta Chowkdi, Vithal Udhyonagar GIDC area, Off Anand Sojita road, At Anand 388121

- Pari-passu charge by equitable mortgage of factory Land & Building at Block no 938, Plot no 1(A-Type), Tadkeshwar, Mandvi, Surat admeasuring 36742.88 sq.mtrs and construction thereon admeasuring of 242151 Sq. Mtr.belonging to M/s Shree Vasudev Industries.

- Pari-passu charge by extension of charge on Bungalow No 106, Shree Sant Tukaram Co-op. Housing Society Ltd., Part 3, Bhattar Road, Surat admeasuring 406.82 sq yards and construction thereon admeasuring of 4394 Sq. Mtr.belonging to Mr. Chetan Shah, Mr. Jayesh Shah and Mr. Paresh Shah.

- Pari-passu charge by 203 (Build up area of 50.25 sq mtr) and shop no 204 (build up area of 50.25 sq mtr) (Second floow in , Adhyashakti Complex, Beside Honest Hotel, */A, National Highway, Lalpar, Morbi, Gujarat- 363642.belonging to Mr. Vipul Shah.

- Pledge of FDR of Rs. 70.00 Lacs in the name of the company.


 
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