2.15. Share issue expense
The Share issue expenses upon recognition shall be adjusted against the balance in the
security premium account as permitted under section 52 of Companies Act, 2013. The
Company had issued Initial public Offer vide ISIN CODE: INE0IJY01014 of 9,44,000 shares
on SME platform of National stock exchange of India. The IPO offering has closed on
10.01.2022 and allotment has been made on 11.01.2022. Payments made in respect of IPO
have been recognized as deferred expenditure in the financial statements, as per income
tax Act 1961.
2.16. Cashflow
Cash flows are reported using the indirect method, whereby profit before tax is adjusted
for the effects of transactions of 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. Cash flows from operating, investing and financing
activities of the Company are segregated, accordingly.
2.17. Segment Reporting
Based on the principles for determination of segments given in Accounting Standard 17
"Segment Reporting" issued by accounting standard notified by Companies (Accounting
Standard) Rules, 2006. The Company has identified its business segment as "Goods
Transportation Services". There are no other primary reportable segments. The activities
of the company are restricted to only one geographical segment i.e. India, hence the
secondary segment disclosures are also not applicable.
B. Rights, Preferences and restriction attached to shares
The Company has one class of equity shares having a par value of Rs.10 each. Each shareholder
is eligible for one vote per share held and carry a right to dividend. The dividend proposed by
the Board of Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting, except in case of interim dividend. In the event of liquidation, the equity
shareholders are eligible to receive the remaining assets of the Company after distribution of
all preferential amounts, in proportion to their shareholding.
D. Equity shares movement during 5 years preceding March 31, 2025
During the financial year 2021-22, the Company allotted 25,00,000 equity shares as fully paid-up bonus
shares by capitalising profits transferred from the general reserve amounting to ^2.50 crores. The
allotment was made pursuant to an ordinary resolution passed by the shareholders.
During the financial year 2024-25, the Company allotted 34,94,000 equity shares as fully paid-up bonus
shares by capitalising profits transferred from the general reserve amounting to ^3.494 crores. This
allotment was also made pursuant to an ordinary resolution passed by the shareholders.
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