i) Provisions, Contingent Liabilities and Contingent Assets
Provisions
A provision is recognised if, as a result of a past event, the Company has a present obligation that can be estimated
reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are
recognised at the best estimate of the expenditure required to settle the present obligation at the balance sheet date. The
provisions are measured on an undiscounted basis.
Contingencies
Provision in respect of loss contingencies relating to claims, litigation, assessment, fines, penalties, etc. are recognised
when it is probable that a liability has been incurred, and the amount can be estimated reliably.
Contingent Liabilities and Commitments
A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may, but
probably will not, require an outflow of resources, or a present obligation whose amount cannot be estimated reliably.
Contingent liabilities do not warrant provisions, but are disclosed unless the possibility of outflow of resources is
remote. Contingent assets are neither recognised nor disclosed in the financial statements. However, contingent assets
are assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the asset and related
income are recognised in the period in which the change occurs.
j) Earnings Per Share (EPS)
The Company reports Basic Earning per equity share in accordance with the Accounting Standard-20 issued by the
Institute of Chartered Accountants of India. Basic Earnings per equity share has been computed by dividing the net
profit after tax by the weighted average number of equity shares outstanding during the year.
The number of shares used in computing the diluted earning per share comprises of the weighted average shares
considered for deriving basic earnings per share, and also the weighted average number of equity shares that could
have been issued on the conversion of all dilutive potential equity shares.
k) Investments
Non Current investments are stated at cost or fair value whichever is lower. Long term investments are stated at cost.
Provision for diminution in value of long term investment is made, if the diminution is other than temporary.
21. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and
Medium Enterprise Development (MSMED) Act, 2006 and hence disclosures Section 22 of The Micro, Small and
Medium Enterprise Development (MSMED) Act, 2006 regarding:
(a) Amount due and outstanding to suppliers as at end of accounting year;
(b) Interest paid during the year;
(c) Interest payable at the end of the accounting year; and
(d) Interest accrued and unpaid at the end of the accounting year have not been given.
25. Schedule III of the Companies Act, 2013 has become effective from Aprill, 2014 for the preparation of financial
statements. Previous year's figures have been regrouped/reclassified to be comparable with currents year's
classification/disclosures.
As per our report of even date
For and on the behalf the Board of Director
Sd/- Sd/-
For Joy Mukherjee & Associates Anuradha Prasad Shukla Shashi Shekhar Mishra
Chartered Accountants (Managing Director) (Director)
Firm Registration No. 006792C DIN: 00010716 DIN:- 07034474
Sd/- Sd/-
CA J. Mukherjee Anurag Kumar Srivastava
Partner (Chief financial officer)
Membership Number.: 074602
UDIN: 24074602BKCIYV5044
Place: Noida
Date: June 10, 2024
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