11 Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is
probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.
(a) TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity share having par value of Rs 10 / per share . Each holder of Equity share is
entitled to one vote per share. In the event of liquidation of the company , the holder of equity shares will be entitled
to receive remaining assets of the Company after distribution of all preferential amounts . The Distribution will be in
Note 35-Initial Public Offer
The company made an Initial Public Offer vide ISIN CODE: INE0D2I01014 of 5,04,000 shares, at a fixed price of Rs. 126/- per share. The
IPO offering closed on 5th September, 2022 and the IPO allotment was made in the F.Y. 2022-23. Shares of the company got listed for
trading on 13th September, 2022 on SME platform of Bombay Stock Exchange of India. The Company has completed Initial Public Offer
(IPO) on the SME Board of Bombay Stock Exchange of India Limited, comprising of IPO placement of 5,04,000 fresh equity shares of the
Company, listed on BSE SME Platform at an offer price of Rs. 126/- per share aggregating to Rs.635.04 Lakhs. The disclosure relating to
utilization of IPO proceeds from Fresh issue is as follows :-
For computing Trade Receivables Turnover ratio Gross credit sales have been considered by adding the GST on goods & services sold to the net credit sales. The
net credit sales are Rs. 1200.62 lakhs for current year ( Rs. 1143.92 lakhs for previous year). After adding the GST on sale of goods & services of Rs. 266.21 lakhs (
Previous year GST Rs. 151.39 lakhs), the Gross credit sales for current year are Rs. 1466.83 lakhs ( Previous year Gross credit sales Rs. 1295.31 lakhs)
38 Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
39 Corporate Social Responsibility
The Company does not meet the applicability threshold for incurring expenditure towards Corporate Social Responsibility
activities as prescribed by section 135 of the Companies Act, 2013.
40 Undisclosed income
The Company does not have any undisclosed income which is not recorded in the books of account that has been
surrendered or disclosed as income during the year (previous 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).
41 Details of Benami Property held
The Company does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property.
42 Utilisation of Borrowed funds and share premium:
(i) The Company has not advanced to or loaned to or invested funds with 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.
(ii) 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 Compliance with approved Scheme(s) of Arrangements
The Company has not entered into any scheme of arrangement.
44 Compliance with number of layers of companies
The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.
45 Registration of charges or satisfaction with Registrar of Companies
The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
46 Relationship with Struck off Companies under section 248 of the Companies Act, 2013 or section 560 of Companies Act,
1956
The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or
section 560 of Companies Act, 1956,
47 Wilful Defaulter
The Company has not been declared as a wilful defaulter by any bank, financial institution or other lender.
48 Title deeds of Immovable Properties not held in name of the Company
The Company does not own any immovable property .
49 Utilisation of borrowings
The borrowings of the company have been utilised for the purpose for which they have been borrowed.
50 Loans or Advances to Related Parties
The Company has not given any loans or advances to promoters, directors, KMPs and other related parties defined under
the Companies Act, 2013.
51 Revaluation of Property, Plant and Equipment and Intangible Assets
The Company has not revalued any property, plant and equipment or intangible assets.
52 Audit Trail
The Company has used an accounting software for maintaining its books of account for the financial year ended 31st
March 2025 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year
for all relevant transactions recorded in the software. Additionally where the audit trail (edit log) facility was enabled in
the previous year, the audit trail has been preserved by the company as per the statutory requirements for record
retention.
53 Rounding off of amounts
All the amounts (except where specifically stated otherwise) are rounded off to lakhs of rupees.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS AUDITOR'S REPORT
SIGNED IN TERMS OF OUR SEPARATE
REPORT OF EVEN DATE.
RAJKUMAR GAJANAN KAMAT LEENA RAJKUMAR KAMAT For S.P BHANDARE & ASSOCIATES
DIRECTOR DIRECTOR CHARTERED ACCOUNTANTS
DIN: 01157652 DIN: 02607730 FIRM REGN. NO. 101157W
S.P BHANDARE
NILAM NARESH KADKADE AANCHAL AGRAWAL PROPRIETOR
CHIEF FINANCIAL OFFICER COMPANY SECRETARY MEMBERSHIP NO. 35615
PLACE: PANAJI-GOA PLACE: PANAJI-GOA
DATED: 23rd May, 2025 DATED: 23rd MAY, 2025
UDIN No. 25035615BMIIBO7043
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