g) Provision & Contingent Liabilities
The Company creates a provision when there is present obligation as a result of past events and 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. A disclosure for a contingent liability is made when there is a possible obligation
or a present obligation that may, but probably will not, require an outflow of resources. When the likelihood of outflow of
resources is remote, no provision or disclosure is made.
h) Revenue Recognition
The Company derives revenues primarily from sale of goods, products and related services.
Revenue from contract with customers is recognised upon transfer of control of promised products or services to customers
in an amount that reflects the consideration the Company expects to receive in exchange for those products or services.
Revenue towards satisfaction of a performance obligation is measured at the amount of transaction price (net of variable
consideration) allocated to that performance obligation. The transaction price of goods sold and services rendered is net of
variable consideration on account of various discounts offered by the Company as part of the contract.
(i) Revenue from sales of goods and services:
Revenue from sales of goods & services are recognised on accrual basis in the year in which the goods & services are
rendered at an amount that reflects the consideration which the Company expects to be entitled in exchange for
those goods or services. The timing of when the Company transfers the goods or provide services may differ from the
timing of the customer's payment.
Amounts disclosed as revenue are net of goods and service tax (GST).
Revenue from the sale of goods is recognised at the point in time when control is transferred to the customer.
Generally, the credit period varies between 0-90 days from satisfaction of performance obligations.
(ii) Dividends
Dividends are recognised in the Statement of Profit and Loss only when the right to receive payment is established.
(iii) Other income
The Company recognises income on accrual basis. However, where the ultimate collection of the same lacks reasonable
certainty, revenue recognition is postponed to the extent revenue is reasonably certain and can be reliably measured.
i) Leases
The Company as a lessee
The Company's lease asset classes primarily consist of leases for land and buildings.
The Company assesses whether a contract contains a lease, at inception of a contract.
At the date of commencement of the lease, the Company recognises a right-of-use asset ("ROU") and a corresponding
lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less
(short-term leases) and low value leases. For these short-term and low value leases, the Company recognises the lease
payments as an operating expense on a straight-line basis over the term of the lease.
Lease term includes extension or termination options when it is reasonably certain that they will be exercised.
The right-of-use assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation
and impairment losses.
Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term
and useful life of the underlying asset.
The lease liability is initially measured at the present value of the future lease payments. The lease payments are discounted
using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates. Lease
liabilities are remeasured with a corresponding adjustment to the related right of use asset if the Company changes its
assessment of whether it will exercise an extension or a termination option.
The Company as a lessor
Leases in which the Company does not transfer substantially all the risks and rewards incidental to ownership of an asset
are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms.
j) Retirement and other employee benefits
Short Term Employee Benefits
The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by
employees are recognised as an expense during the period when the employees render the services.
Post-Employment Benefits
Defined Benefit Plans
The Company pays gratuity to the employees whoever has completed five years of service with the Company at the time
of resignation. The gratuity is paid @15 days salary for every completed year of service as per the Payment of Gratuity Act
1972.
The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit Credit Method
and spread over the period during which the benefit is expected to be derived from employees' services.
Actuarial gain/losses of defined benefit plans in respect of post-employment are charged to the Other Comprehensive
Income.
Defined Contribution Plans
Payments to defined contribution retirement benefit plans, viz., Provident Fund for certain eligible employees and Pension
Fund are recognised as an expense when employees have rendered the service entitling them to the contribution.
k) Share Based Payment
The stock options granted to employees in terms of the Company's Stock Options Schemes, are measured at the fair value of
the options at the grant date. The fair value of the options is treated as discount and accounted as employee compensation
cost over the vesting period on a straight-line basis. The amount recognised as expense in each year is arrived at based on
the number of grants expected to vest. If a grant lapses after the vesting period, the cumulative discount recognised as
expense in respect of such grant is transferred to the general reserve within equity.
l) Income Taxes
Income Tax expenses comprise current tax and deferred tax charge or credit.
Current Tax is measured on the basis of estimated taxable income for the current accounting period in accordance with the
applicable tax rates and the provisions of the Income-tax Act, 1961 and other applicable tax laws.
Deferred tax is provided, on all temporary differences at the reporting date between the tax bases of assets and liabilities
and their carrying amounts for financial reporting purposes. Deferred tax assets and liabilities are measured at the tax rates
that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted
or substantively enacted at the reporting date. Tax relating to items recognised directly in equity or OCI is recognised in
equity or OCI and not in the Statement of Profit and Loss.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets,
and they relate to income taxes levied by the same tax authority, but they intend to settle current tax liabilities and assets
on a net basis or their tax assets and liabilities will be realised simultaneously.
A deferred tax asset is recognised to the extent that it is probable that future taxable profits will be available against which
the temporary difference can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced to the
extent that it is no longer probable.
m) Earnings Per Share
The basic Earnings Per Share ("EPS") is computed by dividing the net profit / (loss) after tax for the year attributable to the
equity shareholders by the weighted average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, net profit/(loss) after tax for the year attributable to the equity
shareholders and the weighted average number of equity shares outstanding during the year are adjusted for the effects
of all dilutive potential equity shares.
n) Foreign Currency Transactions
In preparing the financial statements of the Company, transactions in currencies other than the Company's functional
currency (i.e. foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the
end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at
that date. Non-monetary items carried at fair value that are denominated in foreign currencies are translated at the rates
prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical
cost in a foreign currency are translated using the exchange rate as at the date of initial transactions.
Exchange differences on monetary items are recognised in the Statement of Profit and Loss in the period in which they
arise except for:
• exchange differences on foreign currency borrowings relating to assets under construction for future productive use,
which are included in the cost of those assets when they are regarded as an adjustment to interest costs on those
foreign currency borrowings;
• exchange differences relating to qualifying effective cash flow hedges and qualifying net investment hedges in
foreign operations.
o) Financial Instruments
Financial assets and financial liabilities are recognised when a Company becomes a party to the contractual provisions of
the instruments.
Initial Recognition:
The Company recognises a financial asset in its financial statements when it becomes party to contractual provisions of
the instrument. All financial assets are recognised initially at fair value, plus in the case of financial assets not recorded at
fair value through profit or loss (FVTPL), transaction costs that are attributable to the acquisition of the financial assets.
However, trade receivables that do not contain a significant financing component are measure at transaction price.
All financial liabilities at initial recognition are classified as financial liabilities at amortised cost or financial liabilities at fair
value through profit or loss, as appropriate. All financial liabilities classified at amortised cost are recognised initially at fair
value net of directly attributable transaction costs. Any difference between the proceeds (net of transaction costs) and the
fair value at initial recognition is recognised in the Statement of Profit and Loss or in the Capital Work-In-Progress, if another
standard permits inclusion of such cost in the carrying amount of an asset over the period of the borrowings using the
Effective Interest Rate ('EIR') method.
Classification and Subsequent Measurement: Financial Assets
The Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive
income ("FVOCI") or fair value through profit or loss ("FVTPL") on the basis of following:
• the entity's business model for managing the financial assets; and
• the contractual cash flow characteristics of the financial asset.
Amortised Cost:
A financial asset shall be classified and measured at amortised cost if both of the following conditions are met:
• the financial asset is held within a business model whose objective is to hold financial assets in order to collect
contractual cash flows; and
• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.
Fair Value through OCI:
A financial asset shall be classified and measured at fair value through OCI if both of the following conditions are met:
• the financial asset is held within a business model whose objective is achieved by both collecting contractual cash
flows and selling financial assets; and
• the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.
Fair Value through Profit or Loss:
A financial asset shall be classified and measured at fair value through profit or loss unless it is measured at amortised cost
or at fair value through OCI.
All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending
on the classification of the financial assets.
Impairment of Financial Assets
The Company assesses on a forward-looking basis, the expected credit losses associated with its financial assets carried at
amortised cost for e.g, trade receivables and bank balances. The impairment methodology applied depends on whether
there has been a significant increase in credit risk and if so, assess the need to provide for the same in the Statement of
Profit and Loss.
The Company follows 'simplified approach' for recognition of impairment loss allowance on trade receivables and all lease
receivables.
Classification and Subsequent Measurement: Financial liabilities:
Financial liabilities are classified as either financial liabilities at FVTPL or amortised cost'
Financial Liabilities at FVTPL:
Financial liabilities are classified as at FVTPL when the financial liability is held for trading or are designated upon initial
recognition as FVTPL.
Gains or Losses on liabilities held for trading are recognised in the Statement of Profit and Loss.
Amortised Cost :
Other financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortised
cost using the effective interest method.
The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest
expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash
payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction
costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter
period, to the net carrying amount on initial recognition.
p) Cash and Cash Equivalents
Cash and cash equivalents in the Balance Sheet comprise cash at bank and in hand and short-term deposits with banks that
are readily convertible into cash which are subject to insignificant risk of changes in value and are held for the purpose of
meeting short-term cash commitments.
q) Financial liabilities and equity instruments
• Classification as debt or equity:
Debt and equity instruments issued by the Company are classified as either financial liabilities or as equity in
accordance with the substance of the contractual arrangements and the definitions of a financial liability and an
equity instrument.
• Equity instruments:
An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of
its liabilities. Equity instruments issued by a Company are recognised at the proceeds received.
r) Derivative financial instruments
The Company enters into derivative financial instruments viz. foreign exchange forward contracts to manage its exposure
to foreign exchange rate risks. The Company does not hold derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently
remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss
immediately excluding derivatives designated as cash flow hedge.
s) Fair Value Measurement
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date, regardless of whether that price is directly observable or estimated using
another valuation technique. In estimating the fair value of an asset or a liability, the Company takes into account the
characteristics of asset and liability if market participants would take those into consideration. Fair value for measurement
and / or disclosure purposes in these Financial Statements is determined on such basis. Normally at initial recognition, the
transaction price is the best evidence of fair value.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing
the asset or liability, assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic
benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset
in its highest and best use.
The Company uses valuation techniques those are appropriate in the circumstances and for which sufficient data are
available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable
inputs.
All financial assets and financial liabilities for which fair value is measured or disclosed in the Financial Statements are
categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the
fair value measurement as a whole:
Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly
or indirectly observable.
Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.
Financial assets and financial liabilities that are recognised at fair value on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorisation at the end of each reporting
period.
t) Current versus Non-current classification
The Company presents assets and liabilities in the Balance Sheet based on current/non-current classification.
i) An asset is current when it is:
• Expected to be realised or intended to be sold or consumed in the 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 equivalent 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:
• It is expected to be settled in the normal operating cycle,
• It is held primarily for the purpose of trading,
• It is 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 classified as non-current.
iii) Deferred tax assets and liabilities are classified as non-current assets and liabilities.
iv) The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash
equivalents.
Critical accounting judgements and key sources of estimation uncertainty
The preparation of the Company's financial statements requires management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying
disclosures, and the disclosure of contingent liabilities. 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.
Key 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 that are beyond the control of the Company. Such changes are
reflected in the assumptions when they occur.
i) Useful Lives of Property, Plant & Equipment
The Company uses its technical expertise along with historical and industry trends for determining the economic
life of an asset/component of an asset. The useful lives are reviewed by management periodically and revised, if
appropriate. In case of a revision, the unamortised depreciable amount is charged over the remaining useful life of
the assets.
ii) Lease term of right-to-use assets
Management reviews its estimate of the lease term of right-to-use assets at each reporting date, based on the
expected utility of the leased property. Uncertainties in this estimate relate to business obsolescence/discontinuance
that may change the lease term for certain right-to-use assets.
iii) Fair value measurement of financial instruments
When the fair values of financial assets and financial liabilities recorded in the balance sheet cannot be measured based
on quoted prices in active markets, their fair value is measured using valuation techniques including the Discounted
Cash Flow model. The inputs to these models are taken from observable markets where possible, but where this is not
feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs
such as liquidity risk, credit risk and volatility.
iv) Defined benefit plans
The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined
using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual
developments in the future. These include the determination of the discount rate, future salary increases and mortality
rates. Due to the complexities involved in the valuation and its longterm nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
v) Allowances for credit losses on receivables:
The Company determines the allowance for credit losses based on historical loss experience adjusted to reflect current
and estimated future economic conditions. The Company considered current and anticipated future economic
conditions relating to industries the Company deals with and the countries where it operates.
vi) Provisions
Provisions and liabilities are recognised in the period when it becomes probable that there will be a future outflow
of funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The
timing of recognition and quantification of the liability requires the application of judgement to existing facts and
circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed
regularly and revised to take account of changing facts and circumstances.
vii) Impairment of non-financial assets
For calculating the recoverable amount of non-financial assets, the Company is required to estimate the value-
in-use of the asset or the Cash Generating Unit and the fair value less costs to disposal. For calculating value in
use the Company is required to estimate the cash flows to be generated from using the asset. The fair value of
an asset is estimated using a valuation technique where observable prices are not available. Further, the discount rate
used in value in use calculations includes an estimate of risk assessment specific to the asset.
viii) Impairment of financial assets
The impairment provisions for financial assets are based on assumptions about risk of default and expected cash
loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment
calculation, based on Company's past history, existing market conditions as well as forward looking estimates at the
end of each reporting period.
ix) Share based Payment
The Company reviews the share-based payment expenses at each reporting date for the estimates pertaining to
number of options that will be exercised by the employees, number of options that will lapse. Significant management
judgement is required to determine the same.
Recent accounting pronouncements:
The Ministry of Corporate Affairs (MCA) notifies new standard for amendments to the existing standards. There is no such
notifications which would have been applicable from 1st April, 2025.
B. Measurement of fair values
Valuation techniques and significant unobservable inputs
The management assessed that cash and cash equivalents, trade receivables, trade payables, bank overdrafts and other current
liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.
The Fair Value of financial assets included is the amount at which the instrument could be exchanged in a current transaction
between willing parties.
The investment made in the wholly owned subsidiary company is shown at book value .
37 CAPITAL MANAGEMENT :
For the purpose of the Company's Capital Management, capital includes Issued Equity Capital, Securities Premium, and all other
Equity Reserves attributable to the Equity Holders of the Company. The primary objective of the Company's Capital Management is
to maximise the Shareholder's wealth.
The Company monitors capital using debt-equity ratio, which is total debt divided by total equity.
In addition, the Company has financial covenants relating to the some of the borrowing facilities that it has to maintain Aggregate
Tangible Net Worth which is maintained by the Company,
Gearing Ratio
In order to achieve this overall objective, the Company's capital management, amongst other things, aims to ensure that its meets
financial covenants attached to the interest-bearing loans and borrowings that define capital structure requirements. Breaches in
meeting the financial covenants would permit the bank to immediately call loans and borrowings. There have been no breaches in
financial covenants of any interest-bearing loans and borrowings in the currency period.
38 FINANCIAL RISK MANAGEMENT :
The Company's principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these
financial liabilities is to finance the operations of the Company. The principal financial assets include trade and other receivables, cash
and short term deposits.
The Company has assessed market risk, credit risk and liquidity risk to its financial liabilities.
i) Market Risk:
Market Risk is the risk of loss of future earnings, fair values or cash flows that may result from a change in the price of a financial
instrument, as a result of interest rates, foreign exchange rates and other price risks. Financial instruments affected by market
risks, primarily include loans and borrowings, investments and foreign currency receivables, payables and borrowings.
a) Interest Rate Risks :
The Company borrows funds in Indian Rupees and Foreign currency, to meet both the long term and short term funding
requirements. The Interest rate risk in terms of Foreign currency is managed through available financial instruments. Interest
on Short term borrowings is subject to floating interest rate and are repriced regularly. The sensitivity analysis detailed
below have been determined based on the exposure to variable interest rates on the average outstanding amounts due to
bankers over a year.
If the interest rates had been 1% higher / lower and all other variables held constant, the Company's profit for the year
ended 31st March, 2025 would have been decreased/increased by ' 5.12 lakhs (Previous Year - ' 1.53 lakhs).
b) Foreign Currency Risks :
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate due to changes in foreign
exchange rates. The Company enters into forward exchange contracts to hedge its foreign currency exposures. Foreign
currency risks from financial instruments at the end of the reporting period expressed in '
The Company is mainly exposed to changes in US Dollar . The sensitivity to 1% increase or decrease in US Dollar
against ' with all other variables held constant will be ' 6.46 lakhs. (Previous Year - ' 19.25 lakhs).
The Sensitivity analysis is prepared on the net unhedged exposure of the Company at the reporting date.
c) Price Risks:
The Company's revenue are generated from both domestic and export sales . As most of the products including
raw material and traded goods are imported, any volatility in the price and exchange rate are easily passed on to
the customers. The Company has a risk management policy in place to prudently manage the risk arising from the
volatility in exchange and commodity prices.
ii) Credit Risk
Credit Risk is the risk that a counterparty may default on its contractual obligations resulting in a financial loss to the Company.
It arises from credit exposure to customers, financial instruments viz., Investments in Equity Shares, Debt Funds and Balances
with Banks.
The Company holds cash and cash equivalents with banks which are having highest safety rankings and hence has a low credit
risk.
The Company limits its exposure to credit risk by generally investing only with counterparties that have a good credit rating.
The Company does not expect any losses from non-performance by these counterparties, and does not have any significant
concentration of exposures to specific industry sectors or specific country risks.
The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics
of the customer, including the default risk of the industry and country in which the customer operates, also has an influence on
credit risk assessment. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring
the creditworthiness of customers to which the Company grants credit terms in the normal course of business. The outstanding
trade receivables due for a period exceeding 180 days as at the year ended 31st March, 2025 is 0.57% of the total trade receivables.
The Company uses Expected Credit Loss (ECL) Model to assess the impairment loss or gain.
iii) Liquidity Risk
The Company manages liquidity risk by maintaining adequate surplus, banking facilities and reserve borrowings facilities by
continuously monitoring forecasts and actual cash flows.
The Company has obtained fund and non-fund based working capital lines from banks. The Company monitors funding options
available in the debt and capital markets with a view to maintaining financial flexibility. All payments are made along due dates
and requests for early payments are entertained after due approval and availing early payment discounts.
The Company has a system of forecasting rolling one month cash inflow and outflow and all liquidity requirements are planned.
Exposure to liquidity risk:
*The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring
at the end of the reporting period, while holding all other assumptions constant.
The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation
as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be
correlated.
Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated
using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating
the defined benefit obligation as recognised in the balance sheet.
There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.
(x) Gratuity is payable as per company's scheme as detailed in the report.
(xi) Actuarial gains/losses are recognised in the period of occurrence under Other Comprehensive Income (OCI). All above
reported figures of OCI are gross of taxation.
(xii) Salary escalation & attrition rate are considered as advised by the Company; they appear to be in line with the industry
practice considering promotion and demand & supply of the employees.
(xiii) Maturity Analysis of Benefit Payments is undiscounted cash flows considering future salary, attrition & death in respective
year for members as mentioned above.
(xiv) Average Expected Future Service represents Estimated Term of Post - Employment Benefit Obligation.
(xv) Weighted Average Duration of the Defined Benefit Obligation is the weighted average of cash flow timing, where weights
are derived from the present value of each cash flow to the total present value.
II Share Based Payments
The Company grants ESOP to Senior Management employees in accordance with the terms of the Plan.
(a) Description of the ESOP plan (graded vesting) that existed during the period:
The Company has granted share based incentives to certain employees on 13th August, 2021 for which approval received
from SEBI on 1st December, 2022 under BRIL Employee Stock Options Scheme 2020 ("BRIL ESOS 2020") approved by
Nomination and Remuneration Committee (NRC). As per the scheme, the number of options that will be granted is based
upon length of service, grades, salary cost of the employee to the Company, performance appraisals and / or any other
factors as determined by NRC. The options granted under this scheme is exercisable by employees within one year from
date of its vesting. The Company has granted options at an exercise price of '134.22/-. Option granted will vest in the ratio
of 30:30:40 each year starting from 2nd year from date of grant up to 4th year from date of grant.
57 MISCELLANEOUS
1 Quarterly statements of stocks and other current assets filed by the Company with banks are in agreement with the books of
accounts.
2 The Company has not traded or invested in crypto currency or virtual currency during the year.
3 The Company has not advanced or loaned or invested funds to 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 like to or on behalf of the Ultimate Beneficiaries.
4 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
Company (Ultimate Beneficiaries) or,
(b) Provide any guarantee, security or like to or on behalf of the Ultimate Beneficiaries.
5 The Company does not have any charges or satisfaction of charges which are yet to be registered with ROC beyond the statutory
period.
6 The Company does not have any scheme of arrangements which has been approved by the Competent Authority in terms of
Section 230 to 237 of the Companies Act, 2013.
7 Provision regarding the number of layers prescribed under Section 2 (87) of the Act read with the Companies (Restriction on
number of layers) Rules, 2017 is not applicable.
8 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 Income Tax Act, 1961 (such as, search or survey or any other
relevant provisions of Income Tax Act, 1961).
9 The Company is not declared as wilful defaulter by any bank or financial institution or other lenders.
10 There is no transaction with the Struck off Companies under Section 248 or 560 of the Companies Act, 2013.
11 No proceedings initiated or pending against the Company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988.
12 There were no material subsequent events to be recognised or reported that are not already disclosed.
13 In the Opinion of the Board of Directors, the Current Assets, Loans & Advances are realisable in the ordinary course of business
at least equal to the amount at which they are stated in the Balance Sheet. The Provision for all known liabilities is adequate and
not in excess of the amount reasonably necessary.
14 a) Figures have been disclosed in rupees in lakhs.
b) Previous year's figures have been regrouped and / or reclassified wherever found necessary to confirm current year's
presentation.
As per our report of even date attached For and on behalf of the Board of Directors
For and on behalf of M M NISSIM & CO LLP
Chartered Accountants
Firm Regn. No. 107122W/W100672
N. Kashinath Shruti Jatia Ambarish Daga
Partner Executive Director Executive Director, Joint CFO & IR Officer
Membership No. 036490 DIN : 00227127 DIN : 07125212
Place: Mumbai Ratan Kumar Agrawal Ankit Kumar Jain
Date: 20th May, 2025 Chief Financial Officer Company Secretary
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