(d) Right, preferences and restrictions attached to Shares
The company has one class of equity shares having a par value of Rs. 10 per share. Each shareholder is eligible for one vote per share held. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
26. Payable to Micro and Small Enterprises
The Company called for the information from creditors regarding their status as to small scale undertaking, in order to make the required disclosure. Cases where no response received, it is assumed that they are not covered under the definition of Micro and Small Enterprises. Total outstanding to Micro and Small Enterprises as on 31.3.2024 is Rs.317.89 lakhs out of which Rs. Nil lakhs is overdue. (previous year it was Rs.276.00 lakhs out of which Rs.Nil lakhs was overdue)
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27. Segment Reporting
There is only one segment, therefore no separate disclosure required.
28. Contingent Liabilities and Commitments (to the extent not provided for)
31.3.2024
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Rs. in lakhs 31.3.2023
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(a) Outstanding Guarantees and counter guarantees to
various banks, in respect of the guarantees given by those banks in favour of various government authorities and others (including Letter of Credit)
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321.83
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297.88
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(b) Claim against the Company not acknowledged as debt (Refer Note below)
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265.07
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265.07
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Note : Claim against the Company not acknowledged as debt for the year ended 31st March, 2023 and 31st March, 2024 represents Maharashtra Value Added Tax Demand of Rs.168.85 lakhs and Central Sales Tax Demand of Rs.96.22 lakhs pertaining to period 2008-09 totaling Rs.265.07 lakhs against which Company is in appeal. Tax consultant is contesting the demand and the Management including its tax advisors believe that its position will likely be upheld in the appellate process. The Management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the Company's financial position and results of operation.
1. Current Assets = Total Current Assets as per Balance Sheet
2. Current Liabilities = Total Current Liabilities as per Balance Sheet
3. Total Debt = Non Current Borrowings Current Borrowings Current Maturity of Long Term Debt
4. Shareholders' Equity = Total Equity as per Balance Sheet
5. Earnings available for debt service = Profit after Tax Depreciation Interest expenses
6. Debt Service = Principal and Interest paid to Banks and related parties
7. Average Shareholders' Equity = 1/2 of (Opening Total Equity Closing Total Equity)
8. Total Turnover = Revenue from Operations as per Profit & Loss Statement
9. Average Inventory = 1/2 of (Opening Inventory Closing Inventory)
10. Average Trade Receivables = 1/2 of (Opening Trade Receivables Closing Trade Receivables)
11. Average Working Capital = 1/2 of (Opening Working Capital Closing Working Capital)
12. Capital Employed = Total Assets as per Balance Sheet - Total Current Liabilities as per Balance Sheet
13. Purchases and Other Expenses = Purchase of Raw Material, Consumable Stores, Coal and Freight
31. Corporate social responsibility (CSR)
As per Section 135 of the Companies Act, 2013, a company, meeting the applicability threshold, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on corporate social responsibility (CSR) activities. The areas for CSR activities are promoting education. The funds were primarily utilized through the year on these activities which are specified in Schedule VII of the Companies Act, 2013:
32. Approval of Financial Statements
The financial statements were approved for issue by the board of directors on May 28, 2024.
33. Others
i) In the opinion of the Board of Directors, all assets other than fixed assets and non-current investment are realizable in the ordinary course of business at the value at which they are stated in the Financial Statement.
ii) Accounts with certain financial institutions, banks and companies are subject to reconciliation, however, in the opinion of management these will not have any significant impact on the profit for the year and the net worth of the Company as on the Balance Sheet date.
iii) One of the Bank account of the Company held with Bank of Baroda was seized by the sales tax authorities having debit balance of Rs.0.11 lakhs.
34. Reclassification
The previous year figures have been regrouped / reclassified, wherever necessary to conform to the
current year's presentation/disclosure.
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