q Provisions and Contingencies
"A provision is recognized whenthe Company has a present
obligation as a result of past events; it is probable that an
outflow of resources will berequiredto settletheobligation,
in respect of which a reliable estimate can be made.
Provisions are not discounted to their present value and
are determined based on best estimates required to
settle the obligation at the balance sheet date. These
are reviewed at each balance sheet date and adjusted to
reflect the current best estimates.
Contingent liability is disclosed for (I) Possible obligation
which will be confirmed only by future events not
wholly within the control of the Company or (ii) Present
obligations arising from past events where it is not
probable that an outflow of resources will be required to
settle the obligation or a reliable estimate of the amount
of the obligation cannot be made. Contingent assets
are not recognized in the financial statements since this
may result in the recognition of income that may never
be realized."
r Earnings per share
"Basic earnings per share is calculated by dividing the net
profit or loss after tax for the year attributable to equity
shareholders by the weighted average number of Equity
shares outstanding during the year. Diluted earnings
per share reflect the potential dilution that could occur
if contracts to issue equity shares were exercised or
converted during the year. Diluted earnings per equity
share is computed using the weighted average number
of equity shares and dilutive potential equity shares
outstanding during the year, except where the results are
anti-dilutive."
s Segment Reporting
The Company's primary segment is identified as
business segment based on nature of product, risks,
returns and the internal business reporting system and
secondary segment is identified based on geographical
location of the customers. The Company is principally
engaged in a single business segment viz. providing iT
Services to Customers. Therefore, the company does
not fall under different business segments as defined by
AS-17 "Segmental reporting" issued by ICAI.
t Prior Year Comparatives
The previous year's figures have been regrouped /
reclassified where necessary to correspond with the
current year's classification / disclosure.
u Dividend
"Dividend on share is recorded as liability on the date of
approval by the shareholders in case of final dividend, or
by the board of directors in case of interim dividend. A
corresponding amount is recognized directly in equity.
Dividend income is recognised when the Group's right
to receive the payment is established, which is generally
when shareholders approve the dividend."
e) Rights of the Equity Shareholders
"The Company has only one class of equity shares of ' 10/- each. These shares rank pari passu with each other and in
accordance with the Articles of Association of the Company, each equity shareholder is entitled to the same rights as
regards voting, dividend and repayment of capital in proportion to his shareholding and there are no restrictions to the rights
of shareholders."
The company has allotted bonus shares in the ratio of 24:1 in the month of June 2023, resulting in a total of 84,00,000
shares valued at Rs 840 lakhs in the hands of shareholders. These shares retain the same rights as the existing holdings.
27 EMPLOYEE BENEFITS
A Provident fund
Contributions to defined contribution retirement benefit schemes are recognized as an expense in the Profit & Loss during
the period in which employee renders the related service in case of provident fund.
B Gratuity
Defined Benefit Plan
The Company has an unfunded post retirement defined benefit plan with respect to gratuity. Gratuity liability is provided
based on actuarial valuation following the Projected Unit Credit Method as prescribed by the revised AS 15 on Employee
Benefits notified by the Companies Accounting Standards Rules, 2006. Accordingly, a sum of Rs 37.95 lakhs representing
the current liability has been charged to Statement of Profit and Loss for the reporting period.
Actuarial gain and losses are recognised immediately in the statement of Profit and Loss Account as income or expense.
Obligation is measured at the present value of estimated future cash flows using a discounted rate that is determined
by reference to market yields at the balance sheet date on Government Securities where the currency and terms of the
Government Securities are consistent with the currency and estimate terms of the defined benefit obligations. The accrued
liability towards such pension is provided on actuarial basis as on the Balance Sheet date as per revised Accounting
Standard AS-15 'Employee Benefits' as issued by the institute of Chartered Accountants of India.
32 The Company has not revalued any of its Property, Plant and Equipment during the year.
33 The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company
for holding any Benami property.
34 The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
35 The company does not have any Borrowings from banks or financial institutions on the basis of security of current
assets.
36 The Company has satisfactory ownership of immovable properties and all the title deeds are held in the name of
company.
37 The company does not have any 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), as there were no such act on company.
38 The Company is not declared as wilful defaulter by any bank or financial institution) as defined under the Companies Act,
2013) or consortium thereof or other lender in accordance with the guidelines on wilful defaulters issued by the Reserve
Bank of India.
39 The Company has complied with the number of layers for its holding in downstream companies prescribed under clause
(87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on number of Layers) Rules, 2017.
40 "The Company has not advanced or loaned or invested funds to any other person(s) or entity(is), 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"
41 "The Company has not received any fund from any person(s) or entity(is), 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."
42 Pursuant to section 230 to 237 of the Companies Act 2013,The Company has not entered in to any transaction or scheme
of arrangement.
43 The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.
44 The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the
company towards Provident Fund and Gratuity. The Ministry of Labour and Employment had released draft rules for the
Code on Social Security, 2020 on 13th November, 2020. The Company will assess the impact and its evaluation once the
subject rules are notified. The Company will give appropriate impact in its financial statements in the period in which, the
Code becomes effective and the related rules to determine the financial impact are published.
45 As per the proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of account using accounting
software which has a feature of recording audit trail (Edit Log) facility only at the transactions level and the same has been
operated throughout the year for all relevant transactions recorded in the respective software.
The audit trail, where enabled, has been preserved by the company as per the statutory requirements for record retention.
46 The company has voluntarily got itself converted from a 'Private Limited Company' to 'Limited Company' w.e.f . 22nd Nov,
2023 vide INC-27 (SRN-AA6171046). The Company's shares have been listed with National Stock Exchange of India
Limited (NSE) EMERGE Platform consequent to a public offer of shares during the year by the Company. During the year
under audit, Paramatrix Technologies Limited came up with an Initial Public offering of 30,76,800 Equity Shares of Rs 10
each for a cash price of Rs 110 comprising of a Fresh Issue of upto 27,58,800 Equity Shares and an Offer for Sale of upto
3,18,000 Equity Shares by the selling shareholders of the company. The Equity Shares were listed on NSE Emerge w.e.f
4th September, 2024 and listing status of the company was updated to Listed with immediate effect.
47 "Event after the reporting period - (Buy-Back of Shares)
The Board of Directors and the Members of the Company at their meetings held on 18th April, 2025 and 19th May, 2025,
respectively, have approved the buy-back of up to 4,60,800 fully paid-up Equity Shares of Face Value of Rs 10/- (Rupees Ten
only) each (representing 4% of the total issued and paid-up equity share capital of the Company as on 31st march, 2025)
at a price of Rs 130/- (Rupees One Hundred and Thirty only) per Equity Share payable in cash for an aggregate amount not
exceeding Rs 599.04 lakhs (Rupees Five Crore Ninety-Nine Lakh Four Thousand Only) (excluding any incidental transaction
costs).
As per our report of even date attached.
For E.A. Patil & Associates LLP For and on behalf of the board of
"Chartered Accountants PARAMATRIX TECHNOLOGIES LIMITED
FRN: 117371W/W100092" "(Formerly known as Paramatrix Technologies Private Limited)"
sd/- sd/- sd/-
SUJATA LOHIA MUKESH THUMAR BHAVNA THUMAR
Partner "(Managing Director & CEO)" (Director)
Membership No : 402881 (DIN : 00139960) (DIN : 01322558)
sd/- sd/-
PARIMAL PATEL SHUBHADA SHIRKE
(Chief Financial Officer) (Company Secretary)
Place : Navi Mumbai
Date : 28th May, 2025
| 