The above Financial Results for the half year and Year ended 31-03-2025 have been reviewed by the Audit Committee and subsequently approved by the Board of Directors at their respective meetings held on 27/05/2025.
The Financial Results for the year ended 31-03-2025 have been audited by the statutory auditor of the Company. The Statutory Auditor has given an unmodified opinion.
The Company had completed initial public issue (IPO) by raising initial public offer of 64,59,600 equity shares of face value of ' 10/- each for cash at a price of ' 103 per equity share including a share premium of ' 93 per equity share, the Company had proposed to deploy these net proceeds towards meeting incremental working capital requirements. The equity share of the Company is listed on BSE-SME Platform on 20th October 2022. The Utilization of IPO proceeds was as follows:
b. Terms/rights attached to equity shares
The Company has only one class of equity shares having par value of ' 10/- per share. Each holder of equity shares is entitled to one vote per share. The Company declare and pays dividend in indian rupee.
a) The loan from UGRO Capital Limited secured by:
1) Company has taken Term Loan from URGO Capital Limited of ' 34,62,922 at the rate of 14.5 to 16.5 % for the period of 48 months agaist hypothication of Machinery.
2) Company has taken Term Loan from URGO Capital Limited of ' 29,54,405 at the rate of 14.5 to 16.5 % for the period of 48 months agaist hypothication of Machinery.
3) Company has taken Term Loan from URGO Capital Limited of ' 34,10,284 at the rate of 14.5 to 16.5 % for the period of 36 months agaist hypothication of Machinery.
b) Unsecured Loan:
a) Company has taken unsecured loan from the Bank, NBFC, Credit Card/vendor discounting method as per the sanctioned terms Bank/NBFC/Others.
b) Installments falling due in respect of all the above term loans upto 31.03.2026 have been grouped under "Current maturities of Short Term borowings.
Company has taken Overdraft facility of ' 80.00 Lacs from HDFC Bank Limited at the rate of interest around 9.00 to 11.00 % against stock, Book Debts and covered under CGTMSE Guarantee.This facility also includes personal guarantee of Saival Gandhi and Angee Shah.
Company has taken Overdraft facility of ' 525.00 Lacs from State Bank of India Limited at the rate of interest around 9.15 to 10.00 % against stock, Book Debts and covered under CGTMSE Guarantee.This facility also includes personal guarantee of Saival Gandhi and Harshal Gala.
As per information given to us there were no amount overdue and remaining outstanding to small scale and/or ancillary Industrial suppliers on account of principal and/or interest as at the close of the year. Based on the information available with Company, there are no dues outstanding to Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 for more than 45 days as at March 31, 2025
NOTE 29:
Break up of expenditure incurred on employess who were in receipt of remuneration aggregating ' 102 lacs or more for year or ' 8.5 lacs or more, per month where employed for a part of the year. Nil (Previous Year ' Nil).
NOTE 30:
Depreciable amount for assets is the cost of an asset, or other amount substituted for cost, less its estimated residual value. Depreciation on tangible property, plant and equipment is provided over the useful lives specified under Schedule II to the Companies Act, 2013.
NOTE 31:
Concern in which directors or their relatives are interested:
Fairplay HUB
SkittLeball Ventures
Wigglewink Ventures Private Limited
NOTE 33:
Figures have been presented in 'Lacs' of rupees with two decimals.
NOTE 34:
Previous year's figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.
NOTE 35: NATURE OF BUSINESS
The Company is engaged in the business of sale of all kind of Branded/Customised & personalized products.
NOTE 36:
Business Develoment expenditure writteen off in 20 years started from the Financial Year 2023-2024 and the same has been approved by the Board during the year and amount charged to Profit and Loss Accounts. In current financial year also we follow the same accounting policies.
NOTE 37: INTANGIBLE ASSETS
Company has not charge depreciation on Intangible Assets during the Financial Year 2024-25 and the same has been approved by the board during the year.
NOTE 38:
Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of Balance Sheet as given in Part I of Division II of Schedule III to the Companies Act, 2013, are given hereunder to the extent relevant and other than those given elsewhere in any other notes to the Financial Statements.
a. The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
b. The Company has a Fund-based and Non-fund-based limits of Working Capital from Banks and Financial institutions. For the said facility, the Company has submitted Stock and debtors statement to the bank on monthly basis as also the Quarterly Information Statements. The average difference is not material and is less than 15 % of amount of stock and debtors, which is on account of valuation, provisions, etc.
c. The Company has not been declared as a willful defaulter by any lender who has powers to declare a Company as a willful defaulter at any time during the financial year or after the end of reporting period but before the date when the financial statements are approved.
d. The Company has not entered into any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Company Act, 1956.
e. The Company has compiled with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read with Companies (Restrictions on number of Layers) Rules, 2017.
f. The Company has not received any funds 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;
(a) 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
(b) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
g. The Company does not have any transactions which is not recorded in the books of accounts but has been surrendered or disclosed as income during the 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).
h. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
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