k. Provisions and Contingent Liabilities Provisions
Provisions are recognized when there is a present obligation 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 there is a substantial degree of the estimation of the amount of the obligation.
Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the Balance sheet date and are not discounted to its present value.
Contingent Liabilities
Contingent liabilities 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 or 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 a reliable estimate of the amount cannot be made, is termed as a contingent liability.
l. Earnings Per Share (EPS)
Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Earnings considered in ascertaining the Company's earnings per share is the net profit for the period after deducting preference dividends and any attributable tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, which have changed the number of equity shares outstanding, without a corresponding change in resources. 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 is adjusted for the effects of all dilutive potential equity shares.
m. Cash and Bank Balances
In the cash flow statement, cash and Bank balances includes cash in hand, term deposit with banks and other short-term highly liquid investments with original maturities of three months or less.
3 0. Defined Contribution Scheme
The Company deposits an amount determined at a fixed percentage of basic pay every month to the State administered Provident Fund and Employee State Insurance (ESI) for the benefit of the employees. Accordingly, the Company's contribution during the year that has been charged to revenue is as below.
32. Segment Information as per Accounting Standard -17
AS-17 requires disclosure of amount of revenues from each business segment that amounts to 10 percent or more of its revenues of the total segments. The company is operating in two segment i.e. trading business and consultancy business. However, during the current year as well as in the preceeding financial year since revenue from trading business is less than 10 percent of the Total revenue, hence separate reporting of revenue and expenses is not disclosed as per provisions of the applicable accounting standards.
Also, Assets and result (profit/loss) from trading business in current year as well as in preceeding financial year does not exceed the threshold of 10% of total assets or profit/loss, hence Trading
business is not considered as Reportable Segment under AS-17 and hence Segment reporting is not presented.
Since, Trading business qualified as a Reportable segment in FY 2020-21, as a result segment reporting was also presented for FY 2021-22. However, the Trading business did not qualified as a reportable segment in FY 2021-22 due to threshold of 10% of assets/revenue/result as per AS-17.
34. Necessary Confirmation letters have been sent to parties falling under accounts receivables, trade payables short term and long term current asset and liabilities, where confirmations have not been received, it has been assumed that book figure is the correct balance.
35. The figures of previous year have been rearranged /regrouped, wherever considered necessary.
For APV & Associates For Trident Techlabs Limited
Chartered Accountants (formerly known as Trident Techlabs Private Limited)
FRN: 0123143W
CA. Vikesh Bansal Sukesh Chandra Naithani Praveen Kapoor
Partner (WTD, CEO) ( Director)
Membership No. 096225 DIN: 00034578 DIN: 00037328
UDIN: 24096225BKEGOZ7201
Place: New Delhi
Date: 02/05/2024 Iram Naaz Anand
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