l. Provisions, Contingent Liabilities and Contingent Assets:
Provisions involving substantial degree of estimation in measurement are recognized when there
is a present obligation as a result of past events, and it is possible that there will be an outflow of
resources. Contingent Liabilities are not recognized but are disclosed in the notes on accounts.
Contingent Assets are neither recognized nor disclosed in the financial statements.
m. Earnings per Share:
The basic Earnings Per Share ("EPS") is computed by dividing the net profit after tax for the year
by the weighted average number of equity shares outstanding during the year. For the purpose
of calculating diluted earnings per share, net profit after tax but before Other Comprehensive
Income for the year attributable to equity shareholders and the weighted average number of
shares outstanding during the year are adjusted for the effects of all dilutive potential of equity
shares.
Significant Accounting Judgements, Estimates and Assumptions
Preparation of the financial statements requires management to make judgments, estimates and
assumptions, as described below, that affect the reported amounts and the disclosures. The Company
based its assumptions and estimates on parameters available when the financial statements were
prepared and reviewed at each Balance Sheet date. Uncertainty about these assumptions and
estimates could result in outcomes that may require a material adjustment to the reported amounts
and disclosures.
b) Provident Fund
i) The Company has received an Order towards levy of Damages for the period August 2008
to December 2015 for Rs. 29.05/- lakhs
ii) The Company has received an Order towards levy of Damages for the period December
2016 to March 2020 for Rs. 61.72/- lakhs
c) Goods & Service Tax
The Company is in receipt of various notices under Section 73 of the GST Act 2017
Demanding interest on late payment of GST for the financial years 2017-18,2018-19,2019¬
20,2020-21 to the tune of Rs.214.46/- lakhs which is being contested at various
tribunals/courts and paid an amount of Rs.77.38/- lakhs
However, based on the recommendation made in the 53rd meeting of the GST Council,
Section 128A has been inserted in the CGST Act 2017 with effect from 01.11.2024 to provide
waiver of interest penalty or both relating to demands under Section 73 of the CGST Act
2017 pertaining to the financial years 2017-18,2018-19,2019-20, 2020-21 based on which
notification No.20/2024-Central Tax dated 8th October 2024, providing for procedure and
conditions for closure of proceedings to avail the waiver of interest amount of
Rs.137.08/- lakhs.
The above information regarding Micro and Medium Enterprises has been determined to the
extent such parties have been identified on the basis of information available with the companies.
This has been relied upon by the auditors. The balance payable to MSME creditors are not due as
on March 31, 2025. So, interest has not been provided.
33. Confirmations are not received in respect of the amounts relating to trade receivables, trade-
payables, loan & advances.
35. Previous year's figures have been regrouped / reclassified wherever necessary to correspond
with the current year's classification / disclosure. Figures are rounded off to the nearest rupee.
36. The Company does not have any Benami property, where any proceeding has been initiated or
pending against the Company for holding any Benami property.
37. The Company does not have any transactions with companies struck off.
38. The Company does not have any charges or satisfaction which is yet to be registered with ROC
beyond the statutory period.
39. The Company has not traded or invested in Crypto currency or Virtual Currency during the
financial year.
40. The Company has not been declared a willful defaulter by any bank or financial
institution or government or any government authority.
41. The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the 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
Benificiaries) or (b) provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries.
42. 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.
43. The Company does not 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).
All the above from part of the Balance Sheet and have been authenticated.
In terms of our report attached For and on behalf of the Board
For SURYANARAYANA & SURESH.,
Chartered Accountants
Firm Reg.No. 006631S
Sd/- Sd/- Sd/-
P. Murali Krishna Ravi Vishnu A. Bhopal Reddy
Partner Chairman & Managing Director Whole Time Director
Membership No: 224319 DIN 01144902 DIN 01119839
Sd/- Sd/-
Place: Hyderabad Ravi Vishnu Ankita Gupta
Date: 28-05-2025 Chief Financial Officer Company Secretary
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