1. CORPORATE INFORMATION
M/s. Hi- Tech Winding Systems Limited is a public limited company incorporated under the
provisions of Companies Act, 1956 and having its registered office at Ahmedabad in the state of
Gujarat.
H. STATEMENT OF COMP LI A NT F.;
Standalone Financial Statements have been prepared in accordance with the accounting principles generally accepted in India
including Indian Accouting Standards (Ind AS) prescribed under the section 133 of the Companies Act, 2013 read with rule 3
of the Companies (Indian Accounting Standards) Rules, 2015 as amended and relevant provisions of the Companies Act, 2013.
Accordingly, the Company has prepared these Standalone Financial Statements which comprise the Balance Sheet as at 31
March, 2024, the Statement of Profit and Loss for the year ended 31 March 2024, the Statement of Cash Flows for the year
ended 31 March 2024 and the Statement of Changes in Equity for the year ended as on that date, and accounting policies and
other explanatory information (together hcrcinafte re referred to as ’Standalone Financial Statements' or ’Financial Statements')
I«- SIGNIFICANT ACCOUNTING POLICIES •
1. BASIS OF ACCOUNTING:
The Financial Statements have been prepared under the historical cost convention on accrual basis excepting certain financial
instruments which are measured in terms of relevant Ind AS at fair value/ amortized costs at the end of each reporting period
and investment m one of its subsidiary which as on the date of transition have been fair valued to be considered as deemed cost.
2. PLANT, PROPERTY & EQUIPMENT
Property, Plant and Equipment are stated at cost of acquisition, construction and subsequent improvements thereto less
accumulated depreciation and impairment losses, if any. For this purpose cost include deemed cost on the date of transition and
adjustment for exchange difference wherever applicable and comprises purchase price of assets or its construction cost
including duties and taxes, inward freight and other expenses incidental to acquisition or installation and any cost directly
attributable to bring the asset into the location and condition necessary for it to be capable of operating in the manner intended
for its use. For major projects and capital installations, interest and other costs incurred on / related to borrowings to finance
such projects or fixed assets during construction period and related pre-operative expenses are capitalized,
3. REVENUE RECOGNITION
Revenue from sale of goods rendered is recognised upon passage of title.
4. TAXATIQN OF INCOME
Tax expenses comprises of current and deferred tax. Current income tax is measured at
the amount expected to be paid to die tax authorities in accordance with the Income Tax Act, 1961,
Deferred taxes reflects the impact of current year timing diffrenccs between taxable income
and accouting income for the year and reversal oftimimg diffrcnces of earlier year.
5. Earnings ner Share
Basic Earnings per Share is calculated by dividing the net profit or loss for die period attributable to
equity shareholders by the weighted average number of equity shares outstanding during the period.
Diluted Earnings per Share is calculated by adjustment of all the effects of dilutive potential equity
shares from the net profit or loss for die period attributable to equity shareholders and the weighted
average number of shares outstanding during the period.
6. INVENTORIES
inventories arc valued at lower of cost or net realisable value.
Costs for the purpose of Raw materials, stores and spares and consumables comprise of the respective purchase costs including
non-resmbursablc duties and taxes. Cost for carriage, clearing and forwarding are included in inventory nronortionatelv
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