p) Provisions
Provisions for legal claims, service warranties, volume discounts and returns are recognized
when the Company has a present legal or constructive obligation as a result of past events,
it is probable that an outflow of resources will be required to settle the obligation and the
amount can be reliably estimated. Provisions are not recognized for future operating losses.
Where there are a number of similar obligations, the likelihood that an outflow will be
required in settlement is determined by considering the class of obligations as a whole. A
provision is recognized even if the likelihood of an outflow with respect to any one item
included in the same class of obligations may be small.
Provisions are measured at the present value of management’s best estimates of the
expenditure incurred to settle the present obligation at the end of the reporting period. The
discount rate used to determine the present value is a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability.
The increase in the provision due to the passage of time is recognized as interest expense.
q) Insurance claims
Insurance claims are accounted for on the basis of claims admitted / expected to be admitted
and to the extent that the amount recoverable can be measured reliably and it is reasonable
to expect ultimate collection.
r) Operating Cycle
Based on the nature of activities of the Company and the normal time between acquisition
of assets and their realisation in cash or cash equivalents, the Company has determined its
operating cycle as 12 months for the purpose of classification of its assets and liabilities as
current and non-current.
s) Current and Non-Current classification:
i. The assets and liabilities in the Balance Sheet are based on current/ non - current
classification. An asset as current when it is:
• Expected to be realised or intended to be sold or consumed in normal operating cycle
• Held primarily for the purpose of trading
• Expected to be realised within twelve months after the reporting period, or
• Cash or cash equivalents unless restricted from being exchanged or used to settle a
liability for at least twelve months after the reporting period
All other assets are classified as non - current.
ii. A liability is current when:
• Expected to be settled in normal operating cycle
• Held primarily for the purpose of trading
• Due to be settled within twelve months after the reporting period, or
• There is no unconditional right to defer the settlement of the liability for at least
twelve months after the reporting period
All other liabilities are treated as non - current.
Deferred tax assets and liabilities are classified as non - current assets and liabilities.
t) Trade receivables
Trade receivables are recognized initially at fair value and subsequently measured at
amortized cost using the effective interest method, less provision for impairment.
Trade Receivables have been taken at fair value subject to confirmation and reconciliation.
u) Trade payables
These amounts represent liabilities for goods and services provided to the Company prior to
the end of financial year which are unpaid. The amounts are unsecured and are usually paid
as per the agreed terms. Trade and other payables are presented as current liabilities unless
payment is not due within 12 months after the reporting period.
They are recognized initially at their fair value and subsequently measured at amortized cost
using the effective interest method.
v) Business combinations
In accordance with Ind AS 101 provisions related to first time adoption, the Company has
elected to apply Ind AS accounting for business combinations prospectively from 1 April
2017. As such, Indian GAAP balances relating to business combinations entered into before
that date, including goodwill, have been carried forward with minimal adjustment. The same
first time adoption exemption is also used for associates.
Business combinations are accounted for using the acquisition method. The cost of an
acquisition is measured as the aggregate of the consideration transferred measured at
acquisition date fair value. Acquisition-related costs are expensed as incurred.
At the acquisition date, the identifiable assets acquired and the liabilities assumed are
recognised at their acquisition date fair values. For this purpose, the liabilities assumed
include contingent liabilities representing present obligation and they are measured at their
acquisition fair values irrespective of the fact that outflow of resources embodying economic
benefits is not probable.
Goodwill is initially measured at cost, being the excess of the aggregate of the consideration
transferred over the net identifiable assets acquired and liabilities assumed.
After initial recognition, goodwill is measured at cost less any accumulated impairment
losses. For the purpose of impairment testing, goodwill acquired in a business combination
is, from the acquisition date, allocated to each of the Companys cash-generating units that
are expected to benefit from the combination, irrespective of whether other assets or
liabilities of the acquire are assigned to those units.
6. There are no contingent liabilities as on the balance sheet date.
7. There are no charges or satisfaction of charge pending to be registered with Registrar of
Companies beyond the statutory period, as applicable.
8. The company has not been declared wilful defaulter by any bank or financial institution
or other lender during the year.
9. The company does not hold any Benami property and no proceeding have been initiated
or pending against the company in such respect.
10. The company has not entered into any transactions with struck off companies.
11. The company has not traded or invested in Crypto currency or Virtual Currency during
the year.
12. The company has made detailed assessment of its liquidity position and of the
recoverability and carrying value of its assets as on the balance sheet date and has
concluded that no material adjustments are required to be made in financial statements.
13. In the opinion of the management all the assets of the company have a value on
realization in the ordinary course of business, at least equal to the amount at which they
are stated in the financial statements.
14. Previous year figures have been regrouped/rearranged wherever necessary.
15. Whenever the balance confirmation is not available from the parties, the balance as
appearing in the books of accounts have been considered.
In terms of our Report attached of even date
For BAS & Co. LLP
Chartered Accountants
FRN: 323347E/E300008
Sd/-
(CA Ritika Agarwal) Sd/- Sd/-
Designated Partner (BAL MUKUND TIWARI (ARPAN GUPTA)
M. No. 527731 Chairperson Director
Place: New Delhi DIN:02566683 DIN:03498884
Date: 16-05-2025
UDIN: 25527731BMIARN4020
Sd/- Sd/-
(HOBIN DUGGAL) (SONIA SHARMA)
Company Secretary Chief Financial Officer
M.NO. A55624 PAN: AYXPS7732A
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