29 Fair values
The fair value of the financial assets and liabilities is induded at the amount at which the instrument could be exchanged in a current
transaction between willing parties, other than in a forced or liquidation sale.
The management assessed that investments, cash and cash equivalents, trade receivables, short term borrowings, trade payables and short
term financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.
30 Financial risk management objectives and policies' )
The Company's principal financial liabilities comprise trade and other payables. The main purpose of these financial liabilities Is to finance
the Company's operations. The Company's principal financial assets Include cash and cash equivalents that derive directly from its
operations.
The Company Is exposed to various financial risk such as market risk, credit risk and liquidity risk. The Company's senior management has
assigned the responsibility to oversee the management of these risks to its treasury team. The treasury team assesses the financial risks
and takes .appropriate action to mitigate those risks. The treasury team provides assurance to the Company's senior management that the
Company's financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and
managed in accordance with the Company's policies and risk objectives.
All derivatjv£j£tfi/jjies for risk management purposes are carried out by specialist teams that have the appropriate skills, experience and
supervi^Ipn^s^Vi^Cbmpany's policy that no trading in derivatives for speculative purposes may be undertaken.
The^ard of Directors revie ws and agrees policies for managing each of these risks, which ar# summarized below.
a. Market risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes In market prices.
Market risk comprises three types of risk: interest rate risk, currency risk and other price risk. Financial Instruments affected by market risk
Include loans and borrowings and security deposits.
The sensitivity analyse.*; In the following sections relate to the position as at 31 March 2024 and 31 March 2023.
The analyses exclude the impact of movements In market variables on: the carrying values of gratuity, other post-retirement obligations
and other provisions.
The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks. This is based on the
financial assets and financial liabilities held at 31 March 2024 and 31 March 2023.
x
b. interest rate risk
Interest rate risk is the risk that the fair valuo or future cash flows of a financial instrument will fluctuate because of changes In market
interest rates. The Company does not have any obligations with floating rate of interest. Accordingly, the Company is not exposed to
interest rate risks.
c. Foreign currency risk
Foreign currency risk Is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange
rates. The Company's exposure to the risk of changes m foreign exchange rates relates primarily to the Company's operating activities
(when revenue or expense is denominated in a foreign currency). The Company do not have any significant exposure to foreign currency
risks as there are no significant foreign currency denominated assets / liabilities.
d. Credit risk
Credit risk is the risk that counterparty will not meet its obligations under a financial Instrument or customer contract, leading to a financial
loss. The Company Is exposed to credit risk from Its financing activities, inducting deposits with banks and financial institutions and other
financial instruments.
Balances with banks
Credit risk from balances with banks and financial Institutions Is managed by the Company's treasury department in accordance with the
Company's policy, investments of surplus funds are made only with approved counterparties and within credit fcmits assigned to each
counterparty. The limits arc set to minimize the concentration of risks end therefore mitigate flnendal loss through counterparty's
potential failure to make payments.
The Company's maximum exposure to credit risk for the components of the balance sheet at 31 March 2024 and 31 March 2023 is the
carrying amounts of balances with banks.
e. Liquidity risk
The Compan/s objective is to maintain a balance between continuity of funding and flexibility through the use of long term bank loans,
short term borrowings and finance leases etc. The Company has access to a sufficient variety of sources ot funding arid debt maturing
within 12 months can be rolled over with existing lenders.
31 capital management
A. Objectives, policies and processes of capital management
For the purpose of the Company's capital management, capital indudes issued equity capital and other equity attributable to the equity
holders of the parent. The primary objective of the Company's capital management Is to maximize the shareholder value.
The Cqr^fariy. its capital structure and makes adjustments in light of changes In economic conditions and the requirements of the
finar^HSvenaH^r ”Tovnsintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return
cttiizfto shareholctersfor Issue new shares. The Company monitors capital using a debt-equity ratio, which is net debt divided by total
mcfJdes within net debt. Interest bearing loans and borrowings less cash and cash equivalents.
Jij
55 Additional Regulatory Information
I) All the title deeds of the Immovable property (other than properties where the Company is the lessee and the lease agreements are duly
executed In favour of the lessee) Is held In the name of the company.
II) The Company has not granted Loans or Advances in the nature of loans are granted to promoters, Directors, KMPs and the related parties
(as defined under Companies Act, 2013), either severally or Jointly with any other person, that are repayable on demand or without
specifying any terms or period of repayment.
iii) The Company does not have any 3«nam! property, where any proceeding has beer initiated or pending against the Company for holding
any Benami property. . •
iv) The company does not have any borrowings from banks or financial institutions on tbe basis of security of current assets or otherwise.
v) The Company is not declared as a willful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or
consortium thereof or other lender In accorcance with the guidelines on willful defaulters issued by the Reserve Rank of India.
vi) The Company does not have any transactions with companies struck off under Section 24S of the Companies Act, 2013 or Section 560 of
Companies Act, 1956 during the financial year.
vli) The Company does not have any charges or satisfaction which Is yet to be registered with The Registrar of Companies (ROC) beyond the
statutory period.
viii) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium cr any other sources or kind of
funds) to any other person(s) or entity(ies), including foreign entities (intermediaries) with the understanding (whether recorded in writing
or otherwise) that the Intermediary shall: ,
(a) directly orjndiTOI^-lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company
(U him at a
(b) provide;.apy guarantee/^cyJUy or the like to or on beha’f of the Ultimate Beneficiaries
**) The Company has not received any fund from any person(s) or entity(iesj, including foreign entitles (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
x) Ihe 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).
f,
xl) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
-i
36 Segment Information
The company is not carrying any business operations except generating income from NBFC activities and these activities fall In a single
business segment, thus there is no reportable segment within the meaning of Ind AS -108 "Operating Segments".
37 impairment of Assets
The management Is of the opinion that there is no impairment of assets as contemplated In Ind AS -38 “impairment of Assets".
38 Significant accounting judgements, estimates and assumptions
The preparation of the Company's financial statements requires management to make judgments, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent
liabilities. These include recognition and measurement of financial instruments, estimates of useful lives and residual value of Property,
Plant and Equipment and intangible assets, valuation of Inventories, measurement of recoverable amounts of cash-generating units,
measurement of employee benefits, actuarial assumptions, provisions etc. .
Uncertainty about these assumptions and estimates could result In outcomes that require a material adjustment to the carrying amount of
assets or liabilities affected In future periods. The Company continually evaluates these estimates and assumptions based on the most
recently available Information. Revisions to accounting estimates ere recognized prospectively In the Statement of Profit end Loss In the
period In which the estimates are revised and In any future periods affected.
Judgments
In the process of applying the Company's accounting policies, management has made the fallowing judgments, which have the most
significant effect on the amounts recognized In the financial statements:
Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant
risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below
The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing
circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond
the control of the Company, buch changes are reflected in the assumptions when they occur
39 Previous year's figures have been rearranged and re-grouped wherever found necessary to make comparable with those of the current
year and the figures has been rounded off to the nearest to rupee.
In terms of our Audit Report *
For A VP & Co For and on behalf of the Board ^J\\) 0 s
^J*bU025193N 9 /
Accountants
f Rajeshfioenka Jyoti Rajshree
N. DIN 00298227 DIN 09311715
k Director Independent Director
feSSr" • .
Date: 30-5-2024 An kit Aggarwal
Mace: New Delhi Company Secretary
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