2.12. Provisions, contingent liabilities and contingent assets
Provision
Provisions 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 has been reliably estimated.
If the effect of the time value of money is material, provisions are discounted using a current
pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting
is used, the increase in the provision due to the passage of time is recognized as a finance cost.
Contingent liabilities
Contingent liabilities, if any are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by the occurrence or non-occurrence of
one or more uncertain future events not wholly within the control of the Company. A present
obligation that arises from past events where it is either not probable that an outflow of
resources will be required to settle or reliable estimate of the amount cannot be made, is termed
as contingent liability.
The Company has various tax litigations for various years pending before various authorities
under Income Tax and GST, the outcome of which are material but not practicable for the
Company to estimate the timings of cash outflows.
Contingent Assets
Contingent assets, if any are disclosed where an inflow of economic benefit is probable.
2.13. Earnings per share
Basic earnings per share are calculated by dividing the net profit or loss for the period
attributable to equity shareholders (after deducting attributable taxes) by the weighted average
number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net profit or loss for the period
attributable to equity shareholders and the weighted average number of shares outstanding
during the period are adjusted for the effects of all dilutive potential equity shares.
2.14. Cash Flow statement
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the
effects of transactions of non-cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the
Company are segregated based on the available information.
The accompanying notes are an integral part of the financial statements.
For Motilal & Associates LLP. For and on Behalf of the Board of Directors
(a member firm of M A R C K S Network) For Triliance Polymers Limited
Chartered Accountants CIN: L99999MH1990PLC056538
ICAI FRN : 106584W/W100751
Rishabh Jain Punit Shah Manisha Shah
Partner Executive Director Director
Membership. No. 179547 DIN: 08638245 DIN: 00187171
Place : Mumbai
Date : 30th May 2025
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