1.14) Provisions and Contingencies
A provision is recognized when the Company has present obligations as a result of past event, it is probable that an outflow of resources will be required to settle the obligations, in respect of which reliable estimate can be made. Provisions are not discounted to its present value and are determined based on the best estimates required to settle the obligations at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect a current best estimate.
All known liabilities wherever material are provided for. Liabilities which are material and whose future outcome cannot be ascertained with reasonable certainty are treated as contingent and disclosed by way of notes to the accounts.
1.15) Investment
Investments are classified into current investments and non-current investments. Current investments, i.e. investments that are readily realizable and intended to be held for not more than a year are valued at lower of cost and net realizable value. Any reduction in the carrying amount or any reversal of such provision towards reductions are charged or credited to the Statement of Profit and Loss.
Non-current investments are stated at cost. Provision for diminution in the value of these investments is made only if such decline is other than temporary, in the opinion of the management.
On disposal of investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of Profit and Loss
1.16) Cash and Cash Equivalent
Cash and Cash equivalents includes cash & cheque in hand, bank balance, demand deposits with bank and other short term highly liquid investment where original maturity is less than Six months.
1.17) Cash Flow Statement
Cash Flow are reported using the indirect method where by the profit before tax is adjusted for the effect of the transaction of the non cash nature, any deferrals or
Note: 34 Additional regulatory information
A) The title deeds of immovable properties (other than properties where the Company is the lessee and the lease Agreements are duly executed in favour of the lessee) are held in the name of the Company.
B) The Company does not have any investment property.
C) The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets) and Intangible assets.
D) There are no loans or advances in the nature of loans are granted to Promoters, Directors, KMPs and their related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are outstanding as on 31 March '24:
(i) repayable on demand; or
(ii) without specifying any terms or period of repayment"
E) No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder
F) The company is not declared willful defaulter by any bank or financial institution or other lender.
G) The company has not undertaken any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
H) No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.
I) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the undrstanding (whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the company or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
J) 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 directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
K) No transactions has been surrendered or disclosed as income during the year in the tax assessment under the Income Tax
Act, 1961. There are no such previously unrecorded income or related assets.
L) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
M) The Provision of Section 135 of the Companies Act 2013 in relation to Corporate Social Responsibility are applicable to the
Company during the period and hence reporting under this clause is applicable.
A Current Ratio (In times)
As compared to Previous Financial Year 2022-23, in current Financial Year 2023-24, Company had Higher Investments in Fixed Deposits. Due to This, Current Ratio decreased from 3.69 times to 2.74 times.
B Debt-Equity Ratio (in times)
In Current Year, Company has issued Equity Share alongwith decrease in Long Term Borrowings, resulting into decrease of Debt - Equity Ratio.
C Debt Service Coverage Ratio(in times)
The Earnings of the Company has been increased in Current Year as compared to Previous Year. On account of this, Debts Service Coverage ratio increased from 122.82 times to 461.82 times.
D Return on Equity Ratio (in %)
Return on Equity Ratio has increased from 25.76 % to 62.04 %, as the Net Profit of the Company has significantly Increased in Current Year.
E Inventory Turnover Ratio ( In times)
In the FY 2023-24, Cost of Goods sold has been increased as compared to Last Year, due to variance in Change in WIP. However Average Inventory has been decreased in current year resulting into increase in Inventory Turnover from 0.90 times to 2.80 times.
F Trade Receivables Turnover Ratio (In times)
Due to substantial rise in Sales Revenue as compared to previous year, Trade Recievable Turnover increased by 883.08%.
I Net Profit Ratio (in %)
Sales Revenue has increased in Current Year. However, Net Profit has been increased with greater proportion. Hence, Net Profit Ratio increased by 31%.
J Return on Capital Employed (in %)
Due to major increase in EBIT in Current Year as compared to Previous Year, Return on Capital Employed Increased.
As per our attached report of even date For and on the Behalf of the Board
For, Keyur Shah & Co. Sd/- Sd/-
Chartered Accountants Deepak Chand Thakur Ashish Aggarwal
FRN No.: 141173W Director Director
DIN: 06713945 DIN: 06986812
Sd/- Sd/-
Keyur B. Shah Inder Kumar Naugai
Proprietor Chief Financial Officer
M.No.: 153774 PAN:- ADXPN1812F
Place: Ahmedabad Place: Mumbai
Date: 24th April, '24 Date: 24th April, '24
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