viii. Provisions, Contingent liabilities and Contingent assets
A provision is recognized if, as a result of a past event, the Company has a present legal obligation that
is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle
the obligation. Provisions are determined by the best estimate of the likely future outflow of economic
benefits required to settle the obligation at the reporting date.
Where no reliable estimate can be made, a disclosure is made as contingent liability. A disclosure for a
contingent liability is also made when there is a possible obligation or a present obligation that may, but
probably will not, require an outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure
is made.
Contingent assets are neither recognized nor disclosed in the financial statements. However, Contingent
assets are assessed continually and when it becomes reasonably certain that inflow of economic benefit
will arise.
ix. Depreciation
Depreciation on Fixed Assets is provided to the extent of depreciable amount on the Written down Value
(WDV) Method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II
to the Companies Act, 2013.
Depreciation is not provided on Land & Building as said assets were not put to use during the year.
x. Investments
Investments, which are readily realizable and intended to be held for not more than one year from the
date on which such investments are made, are classified as current investments. All other investments
are classified as non-current investments. On initial recognition, all investments are measured at cost.
The cost comprises purchase price and directly attributable acquisition charges such as brokerage, fees
and duties. Current investments are carried at lower of cost and fair value determined on an individual
investment basis. Long-term investments are carried at cost. However, provision for diminution in value
is made to recognise a decline other than temporary in the value of the long-term investments, if any. On
disposal of an investment, the difference between it carrying amount and net disposal proceeds is charged
or credited to the statement of profit and loss.
xi. Employee benefits
a) Provident Fund
The Company's contribution as per Employee Provident Fund Law towards Provident Fund as provided
for and payments thereof are made to the relevant authorities on actual basis and relevant employer’s
contribution are recognized as expenditure and are charged to the Statement of Profit & Loss on accrual
basis.
b) Gratuity
Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided
on the basis of the actuarial valuation, using the projected unit credit method as at the date of the Balance
Sheet.
xii. Cash Flow Statement
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects
of transactions of a non- cash nature, any deferrals or accruals of past or future operating cash receipts
or payments and item of income or expenses associated with investing or financing cash flows. The cash
flows from operating, investing and financing activities are segregated.
xiii. Tax on Income
The accounting treatment for the Income Tax in respect of the Company’s income is based on the
Accounting Standard on ‘Accounting for Taxes on Income’ (AS-22). The provision made for Income
Tax in Accounts comprises both, the current tax and deferred tax. Provision for Current Tax is made on
the assessable Income Tax rate applicable to the relevant assessment year after considering various
deductions available under the Income Tax Act, 1961.
Deferred tax is recognized for all timing differences; being the differences between the taxable income
and accounting income that originate in one period and are capable of reversal in one or more subsequent
periods. Such deferred tax is quantified using the tax rates and laws enacted or substantively enacted as
on the Balance Sheet date. The carrying amount of deferred tax asset/ liability is reviewed at each
Balance Sheet date and consequential adjustments are carried out.
xiv. Earnings Per Share
Basic Earnings per share is computed by dividing the net profit after tax by the weighted average number
of equity shares outstanding during the period. Diluted Earnings per share is computed by dividing the
profit after tax by the weighted average number of equity shares considered for deriving basic earnings
per share and also the weighted average number of equity shares that could have been issued upon
conversion of all dilutive potential equity shares.
The diluted potential equity shares are adjusted for the proceeds receivable had the shares been actually
issued at fair value which is the average market value of the outstanding shares. Dilutive potential equity
shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive
potential equity shares are determined independently for each period presented.
In case of bonus issue the weighted average number of equity shares outstanding during the period and
for all periods presented should be adjusted for events, other than the conversion of potential equity
shares, that have changed the number of equity shares outstanding, without a corresponding change in
resources.
General
Except wherever stated, accounting policies are consistent with the generally accepted accounting
principles and have been consistently applied.
(B) Notes on Standalone Financial Statements
1. The Company has initiated the process to identify the status of its suppliers and asked them to
inform the Company if they are a Micro, Medium and Small Enterprise under Micro, Medium and
Small Enterprise Act,2006 (MSMED), so that the information regarding dues to MSMED
Enterprise could be stated. However, since no response have been received from the suppliers, due
to which it is not possible for the Company to disclose exactly, the dues to S.S.I. units included in
the Sundry Creditor.
2. Salaries includes director’s remuneration on account of salary:
Notes:
Ý The overall remuneration payable to Executive Director does not exceed the ceiling limit as per
Section 197 of the Companies Act, 2013
Ý The remuneration paid to Non-Executive Independent Directors includes sitting fees paid
towards attending the Board Meeting, Audit Committee Meeting and Nomination and
Remuneration Committee Meetings and other Committee Meetings held during the year.
Further, there are no pecuniary relationships or transactions of the Non-Executive Directors with
the Company, except those disclosed in the Annual Report.
Ý Related Parties Transaction within the meaning elaborated under the Companies Act, 2013 &
Accounting Standard-18.
9. The Company has made no provision in respect of penalty by any government department.
10. Additional Regulatory Information/disclosures as required by General Instructions to
Schedule III to the Companies Act, 2013 are furnished to the extent applicable to the
Company.
i) Title Deeds of immovable property held in name of company.
The Company does not hold any immovable property whose title deeds are not held in the name of the
company.
ii) Revaluation of Property, Plant and Equipment.
No revaluation of Property, Plant and Equipment is carried out during the financial year 2024-25.
iii) Disclosure regarding Loans and Advances.
No funds have been advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the company to or in any other persons or entities, including
foreign entities (“Intermediaries”) with the understanding, whether recorded in writing or otherwise, that
the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever (Ultimate beneficiaries) by or on behalf of the company or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries
iv) Disclosure regarding Capital Work in Progress.
No capital-work-in progress, whose completion is overdue or has exceeded its cost compared to its
original plan.
v) Property, Plant and Equipment’s & Depreciation
The Company has Tangible assets and complied as per prescribed under the company’s act 2013 (for
details please refer Note-10 of Standalone Financial Statement).
vi) Disclosure regarding Intangible Assets
The Company has no Intangible Assets under development and therefore no disclosure is required.
vii) Details of Benami property held.
No proceedings have been initiated or pending against the company for holding any benami property
under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder and
therefore no disclosure is required.
viii) Disclosure regarding borrowings from Banks and financial institution.
The Company has borrowings from banks on the basis of Hypothecation of Fixed Assets and Fixed
Deposit of Company’s and Director’s. Refer Note- 4 and Note-7 of financial statement.
ix) Wilful Defaulter
The Company is not declared wilful defaulter by any bank or financial Institution or other lender and
therefore no disclosure is required.
x) Relationship with Struck off companies
The company has not entered into any transactions with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act, 1956 and therefore no disclosure is provided.
xi) Registration of charges or satisfaction with Registrar of companies
The Company is not required to register charges with Registrar of Companies beyond the statutory
period.
xii) Number of layers of companies
The Company has complied with the number of layers prescribed under the Companies Act, 2013.
xiii) Compliance with approved scheme(s) of Arrangements
No Scheme of Arrangement has been approved by the Competent Authority in terms of sections 230 to
237 of the Companies Act, 2013 in respect of the Company, hence no disclosure is required.
xiv) Utilisation of Borrowed funds and share premium
a) The Company has not advanced or loaned or invested funds (either borrowed funds or
share premium or any other source or kind of funds) to any other person(s) or entity(ies)
including foreign entities (intermediaries) and therefore no disclosure is required.
b) 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:
• directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
• provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
xv) Undisclosed Income
During the period, there are no transactions which are not recorded in the books of accounts that has
been surrendered or disclosed any transaction as income during the year in the tax assessments under the
Income Tax Act, 1961 and therefore no disclosure is required.
xvi) Corporate Social Responsibility (CSR).
In accordance with the provisions of Section 135 of the Companies Act, 2013 relating to Corporate
Social Responsibility (CSR), the Company is covered under the applicability criteria. During the
xix) The name of Company has been changed to “Mach Conference & Events Limited” from
“Mach Conference & Events Private Limited” with the effect from 18th June, 2024
xx) In accordance with AS-17 - there are no separate operating segments hence segment
information has not been disclosed as there is only one product and has no separate segments
11. Earnings Per Share
12.
Basic and Dilutive Earnings per Share (“EPS”) computed in accordance with Accounting Standard (AS)
20 ‘Earnings per Share’.
Since the company has not issued any convertible preference shares or convertible debentures, the
diluted EPS is same as that of Basic EPS. The company has issued bonus shares in the ratio of 360:1
during the period and accordingly the Weighted number of equity shares are calculated and the weighted
number of equity shares have been re-casted for the previous year also and EPS for previous year has
been re-casted accordingly.
13. Employee Benefits
The Management has made of provision for Gratuity in Financial Statements on the basis of Detailed
Gratuity Report and Certificate dated 21st April, 2025 issued by Ms. Sapna Malhotra, Fellow Member of
Institute of Actuaries of India (M. No.IAI-3766). We have relied on said report and we do not vouch for
its accuracy.
1. Gratuity
Introductions
(i) Accounting Standard (AS) 15 Revised issued the Institute of Chartered Accountants
of India.
(ii) APS 26 & APS 27 issued by the Institute of Actuaries of India
(iii) Determination of liability for purposes other than financial accounting requirements
may be significantly different from the results reported herein. Thus, the use of this
report for purposes other than those expressed here may not be appropriate.
2. Objectives
The actuarial valuation has been carried out as at 31/03/2025.The purpose of this valuation is to calculate
the accrued liability as at the valuation date Scheme Provisions. In compliance with the requirements
of 'The Payment of Gratuity Act 1972' the Company currently maintains a Gratuity Scheme
covering all its employees. The Scheme provides lump sum benefits linked to final basic salary and
completed years of service with the Company at the time of separation. The benefits that are payable to
any employee at the time of separation, are in accordance with the Rules laid down in the scheme.
3. The summary of the employee data
Employee data and other relevant information, as at 31/03/2025, have been supplied by the Company.
In conducting the valuation, we have relied on these.
The information supplied has been reviewed for overall consistency and reasonableness; however,
accuracy in respect of each individual case and whether the total data has been supplied is based upon
statement of the Company. Any outstanding liability in respect of members who have already left the
services of the company and whose details are not included in the data, has not been included in the
valuation. Given below is a summary of the membership information as at 31/03/2024 and 31/03/2025
as provided by the Company:
Since it is the Company's prerogative to decide on expected future trends and since the Company is best
aware of the various factors affecting the future trends, the assumptions given by the Company have
been accepted.
5. Methodology
An actuarial estimation is only a snapshot of a plan's estimated financial condition at a particular point
in time; it does not provide the plan's future financial condition or its ability to pay benefit in the future
and does not provide any guarantee of future financial soundness of the plan. Over time, a plan's total
cost will depend on a number of factors, including the amount of benefit plan pays, the number of people
paid benefits, the period of time over which benefits are paid, plan expenses and the amount earned on
any assets invested to pay benefits. These amounts and other variables are uncertain and unknowable at
the valuation date.
Because modelling all aspects of a situation is not possible or practical, we may use summary
information, estimates, or simplifications of estimates to facilitate the modeling future events in an
efficient and cost- effective manner. We may also include factor or data that, if used, in our judgment,
would not have significantly affected our results. Use of such simplifying techniques does not, in our
judgment, affect the reasonableness of valuation results for the plan.
Valuations do not affect the ultimate cost of the plan, only the timing when benefits costs are recognized.
Cost recognitions occur over time. If the costs recognized over the period of years are lower or higher
than necessary, for whatever reason, normal and expected practice is to adjust future levels to recognize
the entire cost of the plan over time.
5.1 The valuation has been carried out using the Projected Unit Credit (PUC) actuarial method to assess
the Plan's liabilities, including those related to death-in-service and incapacity benefits.
Under the PUC method a "projected accrued benefit" is calculated at the beginning of the year and again
at the end of the year for each benefit that will accrue for all active members of the Plan. The "projected
accrued benefit" is based on the Plan's accrual formula and upon service as of the beginning or end of
the year, but using a member's final compensation, projected to the age at which the employee is assumed
to leave active service. The Plan Liability is the actuarial present value of the "projected accrued benefits"
as of the beginning of the year for active members.
The Projected Unit Credit Method requires an enterprise to attribute benefit to the current period (in
order to determine current service cost) and the current and prior periods (in order to determine the
present value of defined benefit obligations). An enterprise attributes benefit to periods in which the
obligation to provide post-employment benefits arises. That obligation arises as employees render
services in return for post-employment benefits which an enterprise expects to pay in future reporting
periods.
Actuarial techniques allow an enterprise to measure that obligation with sufficient reliability to justify
recognition of a liability.
14. Disclosure required U/S. 186(4) of The Companies Act, 2013:
For details of loans and guarantees given to and given by related parties, (refer Note no. 4 & 7 of notes
on Standalone Financial Statement).
15. Approval of the Standalone Financial Statements:
The Standalone financial statements were approved for issue by the Board of Directors on 23rd May,
2025.
18. Balances of the parties are subject to confirmation.
19. According to the information and explanations given to us and on the basis of our
examination of the records of the Company:
• The total revenue from operations includes unbilled revenue amounting to ? 9,95,84,034 for
which invoices will be raised in subsequent months.
• The Tax Collected at Source (TCS) receivable has been accounted for either on the basis of
actual net inflows or on an accrual basis, as determined and provided by the management.
The same is subject to subsequent confirmation and reconciliation.
• The Company's proposed trademarks 'BOOKMYYATRA' and 'BOOKMYYATRA.COM'
are currently under legal proceedings before the Hon’ble Delhi High Court. The matter is
being dealt with in accordance with the guidance provided under SEBI Master Circular No.
SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
• The company had undertaken a project, which has been completed. Considering the
company’s strategic direction, the project has been reclassified from “Project under
Development” to “Project held for Sale”, with a view toward its commercial monetisation.
• The Company had initially incurred certain expenses related to the IPO . The amounts,
attributable to the directors’ share of the IPO-related expense, have been subsequently
recovered from them.
21. The Company is capable of meeting its liabilities existing at the date of balance sheet as and when
they fall due within a period of one year from the balance sheet date.
22. Accounting policies not specifically referred to otherwise are consistent and in consonance with
the generally accepted accounting policies (GAAP).
23. The Previous year’s figures have been regrouped/rearranged wherever necessary to confirm with
the current year’s presentation.
24. Notes 1 to 25 form an integral part of the Balance Sheet and Profit & Loss Accounts.
Signature to notes 1 to 24
In terms of Our Separate Audit Report of Even Date Attached.
For M/s. GULATI SANDEEP & CO. For MACH CONFERENCES AND EVENTS LIMITED
Chartered Accountants
Firm Registration No. 008694N
PRC No.: 016449
Sd/-
HARI SINGH Sd/- Sd/-
PARTNER AMIT BHATIA LAVEENA BHATIA
Membership No. 094782 Managing Director Whole Time Director
PRC No. 016449 DIN: 00351412 DIN: 00351437
Sd/- Sd/-
RAVI KUMAR MISHRA YASHASHVI SRIVASTAVA
Chief Financial Officer Company Secretary
PAN: BSLPM6474N PAN: JBBPS9842B
UDIN: 25094782BMLLSF6821
Place: Noida
Date: - 23rd May, 2025
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