(q) Provisions and contingencies
A provision is recognized when the Company has a
present obligation as a result of past event. it is probable
that an outflow of resources embodying economic
benefits will be required to settle the obligation and
a reliable estimate can be made of the amount of
the obligation. Provisions are not discounted to their
present value and are determined based on the
best estimate required to settle the obligation at the
reporting date. These estimates are reviewed at each
reporting date and adjusted to reflect the current best
estimates.
(r) Foreign currency transactions and translations
Foreign Currency Transactions related to purchase and
sales are recorded at the exchange rates prevailing
under Customs Act on the date of the transactions.
Gains and losses arising out of subsequent fluctuations
are accounted for on actual payments or realisations
as the case may be. Monetary assets and liabilities
denominated in foreign currency as on Balance
Sheet date are translated into functional currency
at the exchange rates prevailing on that date and
Exchange differences arising out of such conversion
are recognised in the Statement of Profit and Loss.
Other foreign currency transactions are recorded at
prevailing RBI rates.
(s) Corporate Social Responsibility (“CSR”)
The Company has opted to charge its CSR expenditure
incurred during the year if any, to the statement of
Profit & Loss.
(t) Other Accounting Policies:
Accounting policies not specifically referred to are
generally and in all material aspects in confirmity with
Generally Accepted Accounting Principles (GAAP) in
India.
Note on repayment terms and security of short term borrowings
1 CC Limit/WCDL of ' 4500.00 Lakhs including ' 600 Lakhs (Non Fund Based Limits) availed from ICICI Bank is Payable
on demand which is secured against exclusive charge on entire current assets of the company and personal property
and guarantee of the directors, director's relatives and others. Borrowings outstanding as on 31.03.2025 is ' 2647.25
Lakhs (Previous Year ' 2866.71 Lakhs). Rate of interest is repo rate spread of 2.5% presently it is 9.25%. Further secured
by quitable mortgage on company's property at Office No. 501, 5th Floor, Nextra, Mayur Vihar Phase - 1, Delhi - 110091
2 The company has borrowed funds from banks on the basis of security of current assets and has filed quaterly
Inventory & Receivables Statements with banks which are not in agreement with the books of accounts, however
such differences between the amounts disclosed to the banks and those as per the books of accounts as reconciled
and explained as under:-
Basic EPS is calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted
average number of equity shares outstanding during the year. Diluted EPS is calculated by dividing the profit attributable
to equity holders of the Company by the weighted average number of equity shares outstanding during the year plus the
weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares
into Equity Shares.
NOTE-30A Details of utilisation of funds raised through IPO
During the year ended March 31, 2025, the Company has completed initial public offer (IPO) of 60,24,000 equity shares of
face value of INR 10 each at an issue price of INR 67 (including securities premium of INR 57) per share, comprising fresh
issue of 60,24,000 equity shares. Pursuant to the IPO, the shares were allotted on May 15, 2024 to the respective successful
applicants under various categories as approved in consultation with the Authorized Representative of the Designated
Stock Exchange viz., NSE Limited. Further, the equity shares of the company were listed on SME Platform of National Stock
Exchange of India Limited (NSE)- “NSE Emerge” on May 17, 2024.
The Company has received an amount of INR 4,036.08 lakhs from proceeds out of fresh issue of equity shares. The
utilisation of the net IPO proceeds is summarised below:
(iv) The company has borrowed funds from banks on the basis of security of current assets and has filed quaterly returns
or statements of current assets with banks which are not in agreement with the books of accounts, however such
differences between the amounts disclosed to the banks and those as per the books of accounts as given in Note
8(2) of the financial statements.
(v) ‘The Company has not revalued it's property plant and equipment during the financial year.
(vi) Specified Ratio has been Calculated as per “Annexure-1” Attached.
(vii) There is no income surrendered or disclosed as income during the current or previous year in the tax assessment
under the Income Tax Act,1961 that has not been recorded in the books of accounts.
(viii) The company does not have any Loans and Advances in nature of loan granted to Promoters, directors, KMPs, and
Related Parties (as defined in companies Act 2013), either jointly or severally with any other person, that are repayable
on demand.
(ix) ‘The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Group for holding any Benami property.
(x) The company does not hold any immovable properties, both during the current year or previous year for which title
deeds are not held in the name of company.
(xi) ‘The Company has not been declared wilful defaulter by any bank or financial institution or government or any
government authority.
(xii) No Advance or loan or invested funds have been given by company to any person(s) or entity(ies),including foreign
entities (intermediaries) with the understanding that the intermediary shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the company(ultimate Beneficiaries.) or
(ii) provide any guarantee, security or the like to or on behalf of the ultimate Beneficiaries.
(xiii) No fund received by company 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
(i) 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
(ii) provide any guarantee, security or the like to or on behalf of the ultimate Beneficiaries.
(xiv) ‘The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(xv) Based on information available with the Company regarding the status of suppliers as defined under the Micro,
Small and Medium Enterprises , there is 2.55 Cr amount remaining unpaid to Micro Small and Medium Enterprises
as at the close of the year.
(xvi) Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification/disclosure.
(xvii) The above standalone financial statements have been reviewed and recommended for adoption by the audit
committee to the Board of Directors and have been approved by the board at its meeting held on 21st May 2025.
(xviii) There are no investor complaints received/pending as on 31st March, 2025.
NOTE-43 These financial statements have been prepared in the format prescribed by the Schedule III to the Companies
Act, 2013. Previous year figures have been recast / restated & wherever necessary to make them comparable with figure of
current year.
AUDITOR'S REPORT
As per our separate report of even date attached
For SARVAM & ASSOCIATES For and on behalf of the Board
CHARTERED ACCOUNTANTS
FRN: 007146N Sd/- Sd/-
Virender Gupta Rakhi Gupta
Sd/- Chairman & Managing Director Whole Time Director
(CA VIJAY KUMAR AGARWAL) DIN: 01686194 DIN: 01686234
PARTNER
M.No. 094334
Sd/- Sd/-
Samin Gupta Gaurav Chakarvati
Date : 21/05/2025 Whole Time Director & CFO Company Secretary
Place : DELHI DIN: 09621798 M. No. A69115
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