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Company Information

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GUJARAT NATURAL RESOURCES LTD.

01 August 2025 | 12:00

Industry >> Oil Drilling And Exploration

Select Another Company

ISIN No INE207H01018 BSE Code / NSE Code 513536 / GNRL Book Value (Rs.) 11.96 Face Value 10.00
Bookclosure 03/12/2024 52Week High 75 EPS 0.00 P/E 0.00
Market Cap. 957.24 Cr. 52Week Low 12 P/BV / Div Yield (%) 6.23 / 0.00 Market Lot 1.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2025-03 

Compliance with number of layers of companies :

Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies
(Restriction on number of Layers) Rules, 2017

(If company has made investment in subsidiary, the above note to be given)

NOTE : 27 (e)

Compliance with approved Scheme(s) of Arrangements

Company has not prepared any Scheme of Arrangements in terms of sections 230 to 237 of the Companies Act, 2013, (If any
scheme or arrangement has been approved by the Competent Authority in terms of Sections 230 to 237, the effect of such
scheme to be disclosed).

NOTE : 27 (f)

Utilisation of borrowed funds and Share Premium

a) During the year, 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,
whether, 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 provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

b) During the year, no funds have been received by the Company from any persons or entities, including foreign entities
("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall,
whether, 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.

28. Significant Accounting Policies

Company Overview

Gujarat Natural Resources Limited ("the company") is a listed company domiciled in India and incorporated under the
provisions of the Companies Act, 1956. The company is engaged in the business of oil and natural gas exploration,
trading of goods and others. The company is listed on Bombay Stock Exchange.

Statement of Compliance

The Standalone Financial Statements comply, in all material aspects, with Indian Accounting Standards ('Ind AS')
notified under Section 133 of the Companies Act, 2013 ('the Act') read with Rule 3 of the Companies (Indian Accounting
Standards) Rules, 2015 and other relevant provisions of the Act.

Accordingly, the Company has prepared these Standalone Financial Statements which comprises of Balance Sheet as at
31 March 2025, the Statement of Profit and Loss, the Statement of Cash Flows and the Statement of Changes in Equity
for the year ended as on that date, and accounting policies and other explanatory information.

Basis for Preparation of Financial statements

The Standalone Financial Statements have been prepared on the historical cost basis, except for certain financial
instruments and defined benefit plans which are measured at fair value at the end of each reporting period. Historical
cost is generally based on the fair value of the consideration given in exchange for goods and services. Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date.

All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and
other criteria set out in the Schedule III to the Act.

Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on current/non-current classification. An asset is
classified as current when it satisfies any of the following criteria:

- It is expected to be realised in, or is intended for sale or consumption in, the Company's normal operating cycle. it
is held primarily for the purpose of being traded;

- it is expected to be realised within 12 months after the reporting date; or

- It is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least 12
months after the reporting date.

All nthpr accptc arp rl a cc if i pH ac: nnn-n irrpnt

A liability is classified as current when it satisfies any of the following criteria:

- it is expected to be settled in the Company's normal operating cycle;

- it is held primarily for the purpose of being traded;

- it is due to be settled within 12 months after the reporting date; or the Company does not have an unconditional
right to defer settlement of the liability for at least 12 months after the reporting date

Terms of a liability that could, at the option of the counter party, result in its settlement by the issue of equity
instruments do not affect its classification.

All other liabilities are classified as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

Property, Plant and Equipment

Property, plant and equipment are stated at acquisition cost net of tax / duty credit availed, less accumulated
depreciation and accumulated impairment losses, if any. Properties in the course of construction are carried at cost, less
any recognized impairment losses. All costs, including borrowing costs incurred up to the date the asset is ready for its
intended use, is capitalized along with respective asset.

Depreciation is recognized based on the cost of assets less their residual values over their useful lives, using the straight¬
line method. The useful life of property, plant and equipment is considered based on life prescribed in schedule II to the
Companies Act, 2013 for year 2024-25

Financial Instruments

Financial assets and financial liabilities are recognized when an entity becomes a party to the contractual provisions of
the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets
or financial liabilities, as appropriate, on initial recognition.

Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through
profit or loss are recognized immediately in profit or loss.

Financial Assets

♦ Classification

The Company classifies its financial assets in the following measurement categories:

• Those to be measured subsequently at fair value (either through OCI, or through profit or loss), and

• Those measured at amortized cost.

• Those measured at carrying cost for equity instruments subsidiaries and joint ventures.

♦ Initial recognition and measurement

All financial assets, are recognized initially at fair value

Financial liabilities and equity instruments
Classification as debt or equity

Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the
contractual arrangement.

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its
liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Equity instruments

The Company subsequently measures all equity investments at fair value. Where the Company's management has elected to
present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and
losses to the Standalone Statement of Profit and Loss. When the financial asset is derecognized, the cumulative gain or loss
previously recognized in OCI is reclassified to equity. Dividends from such investments are recognized in the Standalone
Statement of Profit and Loss within other income when the Company's right to receive payments is established. Impairment
losses (and reversal of impairment losses) on equity investments measured at FVTOCI are not reported separately from other
changes in fair value.

Financial liabilities

The Company's financial liabilities comprise borrowings, trade payables and other liabilities. These are initially measured at
fair value, net of transaction costs, and are subsequently measured at amortized cost using the EIR method. The EIR is a
method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period at
effective interest rate. The effective interest rate is the rate that exactly discounts estimated future cash payments through the
expected life of the financial liability, or, where appropriate, a shorter period.

Financial liabilities at amortized cost

Financial liabilities that are not held-for-trading and are not designated as at FVTPL are measured at amortized cost at the end
of subsequent accounting periods. The carrying amounts of financial liabilities that are subsequently measured at amortized
cost are determined based on the effective interest method. Interest expense that is not capitalized as part of costs of an asset
is included in the 'Finance costs' line item.

Trade and other payables are recognized at the transaction cost, which is its fair value.

Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption that
the transaction to sell the financial asset or settle the financial liability takes place either:

• In the principal market, or

• In the absence of a principal market, in the most advantageous market

The principal or the most advantageous market must be accessible by the Company.

A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic
benefits by using the asset in its highest and best use.

Revenue recognition

The Company has adopted Ind AS 115 from 1st April, 2018 and opted for modified retrospective application with the
cumulative effect of initially applying this standard recognised at the date of initial application. The standard has been
applied to all open contracts as on 1st April, 2018, and subsequent contracts with customers from that date.

Performance obligation:

The revenue is recognized on fulfillment of performance obligation.

Sale of products:

The Company earns revenue primarily from sale of Steel Product and Trading in goods. Payment for the sale is made as
per the credit terms in the agreements with the customers. The credit period is generally short term, thus there is no
significant financing component. The Company's contracts with customers do not provide for any right to returns,
refunds or similar obligations. The Company's obligation to repair or replace faulty products under standard warranty
terms is recognized as a provision.

Revenue is recognized when the performance obligations are satisfied and the control of the product is transferred,
being when the goods are delivered as per the relevant terms of the contract at which point in time the Company has a
right to payment for the asset, customer has possession and legal title to the asset, customer bears significant risk and
rewards of ownership and the customer has accepted the asset or the Company has objective evidence that all criteria
for acceptance have been satisfied.