ix. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
- Provisions are recognised when the Company has a present obligation(legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
- Contingent liability is disclosed in case of :
a) a present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the obligation ; and
b) a present obligation arising from past events, when no reliable estimate is possible.
- Contingent assets are disclosed where an inflow of economic benefits is probable.
x. EARNING PER SHARE
- Basic Earning per share is calculated by dividing the Net Profit after tax for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.
- Diluted EPS is computed by dividing the profit after tax, as adjusted for dividend, interest and other charges to expenses or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basis EPS and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.
xi. Recent accounting pronouncements
Ministry of Corporate Affairs ("MCA") notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On April 01, 2023, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:
Ind AS 1 - Presentation of Financial Statements - This amendment requires the entities
to disclose their material accounting policies rather than their significant
accounting policies. The effective date for adoption of this amendment is annual periods
beginning on or after April 1,2023. The Company has evaluated the
amendment and the impact of the amendment is insignificant in the standalone
financial statements.
Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - This
amendment has introduced a definition of 'accounting estimates' and included
amendments to Ind AS 8 to help entities distinguish changes in accounting policies from
changes in accounting estimates. The effective date for adoption of this
amendment is annual periods beginning on or after April 1, 2023. The Company has
evaluated the amendment and there is no impact on its standalone financial
statements.
Ind AS 12 - Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023. The Company has evaluated the amendment and there is no impact on its standalone financial statement
Note-1 :-
Current ratio increased mainly due to decrease in current liabilities in current year. Note-2 :-
Return on equity ratio increased in current year primarily due to increase in net profit after tax.
Note-3 :-
Net capital turnover ratio increased due to increase in sales and increase in working capital during the current year.
Note-4 :-
Sale of services is increased under consideration during to that profit of the company is increased.
21 Gratuity expense is recognised at the time of payments made to the employees
22 The balances of GST input ledgers as per books are subject to reconciliation with balances as per GST returns and consequential adjustments thereof.
23 Previous year figures are regrouped wherever necessary.
The accompanying notes form an integral part of financials statements As per our report of even date
For, MAAK and Associates For and on behalf of Board of Directors of
[Firm Registration No. 135024W] CASPIAN CORPORATE SERVICES LIMITED Chartered Accountants (Formerly Known as INTELLIVATE CAPITAL
ADVISORS LIMITED)
CA Marmik Shah Sukumar Reddy Garlapathi Sampath Rao
Partner Managing Director Director
Mem. No. 133926 DIN:00966068 DIN:07999868
Place: Ahmedabad Place: Hyderabad Place: Hyderabad
Date: 30/05/2024 Date: 30/05/2024 Date: 30/05/2024
UDIN: 24-133926BKCjPW6088 Laxmi Narayana Punna Hema Advani
Chief Financial Officer Company Secretary
PAN:ATIPP6084C PAN:BENPA4139L
Place: Hyderabad Place: Hyderabad
Date: 30/05/2024 Date: 30/05/2024
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