The following are the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognized and measured at fair value
and (b) measured at amortized cost and for which fair value are disclosed in the financial statements. To provide an indication about the reliability of the inputs used
in determining fair value, the company has classified its financial instruments into the three levels of fair value measurement as prescribed under the Ind AS 113
"Fair Value Measurement".
40.2 During the year ended March 31, 2025 and March 31, 2024, there were no transfers between Level 1 and Level 2 fair value measurements, and no transfer into and
out of Level 3 fair value measurements.
40.3 Explanation to the Fair Value hierarchy
The Company measures financial instruments, such as, quoted investments at fair value at each reporting date. 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. All assets and 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:
40.3.1 Level 1: h ierarchy includes financial instruments measured using quoted prices. This includes listed equity instruments, traded bonds and mutual funds that have
quoted price. The fair value of all equity instruments (including bonds) which are traded in the stock exchanges is valued using the closing price as at the reporting
period. The mutual funds are valued using the closing NAV.
40.3.2 Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the-counter derivatives) is determined using
valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to
fair value an instrument are observable, the instrument is included in level 2.
40.3.3 Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity
securities, contingent consideration included in level 3.
41 Financial Risk Management
Financial management of the Company has been receiving attention of the top management of the Company. The management considers finance as the lifeline of
the business and therefore, financial management is carried out meticulously on the basis of detailed management information systems and reports at periodical
intervals extending from daily reports to long-term plans. Importance is laid on liquidity and working capital management with a view to reduce over-dependence on
borrowings and reduction in interest cost. Various kinds of financial risks and their mitigation plans are as follows:
41.1 Credit Risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is
exposed to credit risk from its operating activities (primarily trade receivables). On account of adoption of Ind AS 109, the Company uses an expected credit loss
model to assess the impairment loss.
a Trade Receivables
Customer credit risk is managed by the Company's established policy, procedures and control relating to customer credit risk management. Outstanding customer
receivables are regularly monitored and reconciled. Based on historical trend, industry practice and the business environment in which the company operates, an
impairment analysis is performed at each reporting date for trade receivables. There is no impairment loss allowance on trade receivable as based on past trend it is
expected to be realised with one year.
b Other Financial Assets
Credit Risk on loans, cash and cash equivalent, and deposits with the banks is generally low as the said financial assets have been made with the banks/ related
parties who have been assigned high credit rating by international and domestic rating agencies.
41.2 Liquidity Risk
The Company's objective is to maintain optimum levels of liquidity to meet its cash and collateral requirements at all times. The Company relies on borrowings and
excess inflows to meet its needs for funds. The current committed lines of credit are sufficient to meet its short to medium/ long term needs. The Company
monitors rolling forecasts of its liquidity requirements to ensure it has sufficient cash to meet operational needs.
It is not expected that cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts. When the amount payable is
b not fixed, the amount disclosed has been determined with reference to conditions existing at the reporting date.
41.3 Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises of
41.3.1 Foreign Exchange Risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company do
not have exposure to the risk of changes in foreign exchange rates as the company do not have foreign currency exposure during the year ended 31st March,2024.
41.3.2 Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market rates. The company's
44 Other Statutory Disclosure
44.1 The Company does not have any benami property, where any proceedings have been initiated or pending against the company for holding any benami property
under Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and the rules made there under.
44.2 The Company has been sanctioned working capital limit from a bank on the basis of security of current assets of the Company. The half yearly returns/statements
are filed by the Company with such bank. The differences, if any, are stated below.
44.3 The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.
44.4 There has no any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
44.5 The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
44.6 The Company does not have any undisclosed income which is not recorded in the books of account that has been surrendered or disclosed as income during the
previous year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)
44.7 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
44.8 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
44.9 The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
47 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in
September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final
rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the
period the Code becomes effective.
Previous GAAP figures have been reclassified/regrouped to confirm the presentation requirements under IND AS and the requirements laid down in Division-II of the
48
Schedule-III of the Companies Act,2013.
As per our report of even date For and on behalf of the Board of Directors
For M/s. Bijan Ghosh & Associates
Chartered Accountants
(Firm Registration No.323214E) SD/- SD/-
Jugal Kishore Bhagat Rekha Devi Bhagat
Managing Director Director
DIN: 02218545 DIN: 08521001
Mr. Bijan Ghosh
Proprietor
Membership No. 009491 SD/- SD/-
Place: Kolkata Vinita Yadav Karishma Sharma
Dated: 30-05-2025 Chief Financial Officer Company Secretary
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