1 Corporate Information
Yash Innoventures Limited(Formerly known as Redex Protech Limited) is a public limited company incorporated in India with its
registered office at 1st Floor, Corporate House No 3, Parshwanath Business Park, Bh. Prahaladnagar Garden, S.G. Highway,
Ahmedabad Gujarat- 380014 under the provisions of the Companies Act, 1956. Its shares are listed on recognised stock
exchange in India. The company is operating in only one segment i.e. Construction & Infrastructure
1.1 Basis of preparation
(a) Statement of compliance with Ind AS
These financial statements are prepared in accordance with Indian Accounting Standards (Ind AS) as per the Companies
(Indian Accounting Standards) Rules 2015 and Companies (Indian Accounting Standards) (Amendment) Rules, 2016
notified under Section 133 of Companies Act, 2013 (the 'Act') and other relevant provisions of the Act.
Details of the Company's accounting policies are included in note 2 of the Financial statements.
(b) Functional and presentation currency
These financial statements are presented in Indian Rupees (INR), which is also the functional currency. All the amounts
have been rounded off to the nearest digits.
(c) Basis of Measurement
The financial statements have been prepared on the historical cost basis.
(d) Presentation of financial statements
The Balance Sheet, Statement of Profit and Loss and Statement of Changes in Equity are prepared and presented in the
format prescribed in the Schedule III to the Companies Act, 2013 ("the Act"). The Statement of Cash Flows has been
prepared and presented as per the requirements of Ind AS 7 "Statement of Cash Flows”. The disclosure requirements with
respect to items in the Balance Sheet and Statement of Profit and Loss, as prescribed in the Schedule III to the Act, are
presented by way of notes forming part of the financial statements along with the other notes required to be disclosed
under the notified Accounting Standards and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
as amended.
(e) Going Concern
The board of directors have considered the financial position of the Company as at March 31. 2025.The board of directors
have taken actions to ensure that appropriate long-term cash resources are in place at the date of signing the accounts to
fund the Company's operations.
(f) Use of Estimates and Judgments
In preparing these financial statements, management has made judgments, estimates, and assumptions that affect the
application of accounting policies and the reported amounts of assets, liabilities, incomes and expenses. Actual results
may differ from these estimates.
Estimates
Estimates and underlying assumptions are reviewed on an ongoing basis. They are based on historical experience and
other factors including expectations of future events that may have a financial impact on the Company and that are
believed to be reasonable under the circumstances. Revisions to the accounting estimates are recognised prospectively.
Judgments
Information about judgments made in applying accounting policies that have the most significant effects on the amounts
recognized in the financial statements is included in the respective note.
Assumptions and Estimation Uncertainties:
information about assumptions and estimation uncertainties that have a significant risk of resulting in a material
adjustment within the next financial year are included in the respective note.
a Financial Instruments
1 Financial Assets
i Classification
The Company classifies its financial assets in the following measurement categories:
? Those measured at amortized cost and Those to be measured subsequently at fair value (either through other
comprehensive income or through profit or loss)
The classification depends on the Company's business model for managing the financial assets and the
contractual terms of the cash flows.
? A financial asset is measured at amortized cost if it meets both of the following conditions and is not
designated as at Fair Value through Profit and Loss Account (FVTPL):
- the asset is held within a business model whose objective is to hold assets to collect contractual cash flows:
and
- the contractual terms of a financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding.
- the asset is held within a business model whose objective Is achieved by both collecting contractual cash
flows and selling financial assets, and
the contractual terms of the financial asset give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.
? Financial assets are not reclassified subsequent to their initial recognition except if and in the period the
Company changes its business model for managing financial assets.
li Measurement
At initial recognition, the Company measures a financial asset when it becomes a party to the contractual
provisions of the instruments and measures at its fair value except trade receivables which are initially measured
at transaction price. Transaction costs are incremental costs that are directly attributable to the acquisition of the
financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed In
profit or loss. A regular way purchase and sale of financial assets are accounted for at trade date.
iii Subsequent Measurement and Gains and Losses__
Financial assets at These assets are subsequently measured at fair value. Net gains including any interest or
FVTPL dividend income, are recognized in profit or loss.___
iv Derecognition
The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset
expire, or it transfers the rights to receive the contractual cash flows In a transaction in which substantially all of
the risks and rewards of ownership of the financial asset are transferred or in which the Company neither
transfers nor retains substantially all of the risks and rewards of ownership and does not retain control of the
financial asset.
If the Company enters into transactions whereby it transfers assets recognised on its balance sheet, but retains
either all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not
derecognised.
2 Financial Liabilities
i Classification, Subsequent Measurement and Gains and Losses •
Financial liabilities are classified and measured at amortized cost or FVTPL. A financial liability is classified as at
FVTPL if it is classified as held- for- trading, or it is a derivative or it is designated as such on initial recognition.
Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense,
are recognized in profit or loss. Other financial liabilities are subsequently measured at amortized cost using the
effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss.
Any gain or loss on derecognition is also recognized in profit or loss.
ii Derecognition
The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or
expire.
The Company also derecognises a financial liability when its terms are modified and the cash flows under the
modified terms are substantially different. In this case, a new financial liability based on the modified terms is
recognised at fair value. The difference between the carrying amount of the financial liability extinguished and the
new financial liability with modified terms is recognised in the profit or loss
iii Offsetting
Financial assets and financial liabilities are off set and the net amount presented in the Balance Sheet when, and
only when, the Company currently has a legally enforceable right to set off the amounts and it intends either to
settle them on a net basis or to realise the asset and settle the liability simultaneously.
b Property, Plant and Equipment
i Recognition and Measurement
Items of property, plant and equipment are measured at cost, which includes capitalised borrowing costs, less
Cost of an item of property, plant and equipment comprises its purchase price, Including import duties and
nonrefundable purchase taxes, after deducting trade discounts and rebates, any directly attributable cost of bringing
the item to its working condition for its intended use and estimated costs of dismantling and removing the item and
restoring the site on which it is located.
The cost of a self-constructed item of property, plant and equipment composes the cost of materials and direct labor,
any other costs directly attributable to bringing the item to working condition for its intended use, and estimated costs
of dismantling and removing the item and restoring the site on which it is located.
If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for
as separate items (major components) of property, plant and equipment.
Useful lives have been determined in accordance with Schedule II to the Companies Act, 2013. The residual values are
not more than 5% of the original cost of the asset.
Capital Work-in-progress includes cost of assets at sites and constructions expenditure.
Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss.
ii Capital work in progress and Capital advances:
Cost of assets not ready for intended use, as on the balance sheet date, is shown as capital work in progress.
Advances given towards acquisition of fixed assets outstanding at each balance sheet date are disclosed as Other Non-
Current Assets
iii Subsequent Expenditure
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the
expenditure will flow to the Company.
iv Depreciation/Amortisation
Depreciation is calculated on cost of items of property, plant and equipment (other than freehold land and properties
under construction) less their estimated residual values over their estimated useful lives using the straight-line method
and is generally recognised in the statement of profit and loss. Amortization on leasehold land is provided over the
period of lease.
Depreciation method, useful lives and residual values are reviewed at each financial year-end and adjusted if
appropriate. Based on technical evaluation and consequent advice, the management believes that Its estimates of
useful lives best represent the period over which management expects to use these assets.
Depreciation on additions (disposals) is provided on a pro-rata basis i.e. from (up to) the date on which asset is ready
for use (disposed of).
v Derecognition
An item of Property, Plant and Equipment is derecognised upon disposal.
c. Investment Property
Investment Properties are measured initially at cost, including transaction costs. Subsequent to initial recognition,
investment properties are stated at cost less accumulated depreciation and accumulated impairment loss, if any.
The cost includes cost of replacing parts and borrowing costs for long-term construction projects if the recognition criteria
are met When significant parts of the investment property are required to be replaced at intervals, the company
depreciates them separately based on their specific useful lives. All other repair and maintenance costs are recognised in
profit and loss as incurred.
The group depreciates building component of investment property over 60 years from the date of original purchase.
Investment properties are derecognised either when they have been disposed of or when they are permanently
withdrawn from use and no future economic benefit is expected from their disposal. The difference between the net
disposal proceeds and the carrying amount of the asset is recognised in profit or loss in the period of derecognition.
d. Impairment
i Impairment of Financial Assets
The Company recognizes loss allowances for financial assets measured at amortized cost using expected credit loss
model.
At each reporting date, the Company assesses whether financial assets carried at amortized cost are credit impaired. A
financial asset is 'credit- impaired' when one or more events that have a detrimental impact on the estimated future
cash flows of the financial asset have occurred
For trade receivables, the Company always measures the loss allowance at an amount equal to lifetime expected
credit losses.
For all other financial assets, the Company measures loss allowances at an amount equal to twelve months expected
credit losses unless there has been a significant increase in credit risk from initial recognition in which those are
measured at lifetime expected credit risk.
Lifetime expected credit losses are the expected credit losses that result from all possible default events over the
expected life of a financial asset. Twelve months expected credit losses are the portion of lifetime expected credit
losses that represent the expected credit losses that result from default events on a financial instrument that are
possible within the twelve months after the reporting date (or a shorter period if the expected life of the instrument is
less than twelve months).
When determining whether the credit risk of a financial asset has increased significantly since initial recognition and
when estimating expected credit losses, the Company considers reasonable and supportable information that is
relevant and available without undue cost or effort. This includes both quantitative and qualitative information and
analysis, based on the Company's historical experience and informed credit assessment and including forward-looking
information.
The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 360 days
past due. The Company considers a financial asset to be in default when the borrower is unlikely to pay its credit
obligations to the Company in full.
Measurement of Expected Credit Losses Expected credit losses are a probability-weighted estimate of credit losses.
Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to
the Company in accordance with the contract and the cash flows that the Company expects to receive).
Presentation of Allowance for Expected Credit Losses in the Balance Sheet
Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying amount of the
assets. '
Write-off
The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no
realistic prospect of recovery. This is generally the case when the Company determines (on the basis of availability of
the information) that the debtor does not have assets or sources of income that could generate sufficient cash flows
to repay the amounts subject to the write- off. However, financial assets that are written off could still be subject to
enforcement activities in order to comply with the Company's procedures for recovery of amounts due.
ii Impairment of Non-Financial Assets (if any such non-financial assets exists)
The Company's non-financial assets are reviewed at each reporting date to determine whether there is any indication
of impairment. If any such indication exists, then the asset's recoverable amount is estimated.
An impairment loss is recognised if the carrying amount of an asset exceeds its estimated recoverable amount.
Impairment losses are recognised in the Statement of Profit and Loss.
In respect of assets for which impairment loss has been recognised in prior periods, the Company reviews at each
reporting date whether there is any indication that the loss has decreased or no longer exists. An impairment loss is
reversed if there has been a change in the estimates used to determine the recoverable amount. Such a reversal is
made only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been
determined, net of depreciation or amortisation, if no impairment loss had been recognised.
e. Employee Benefits
i. Short Term Employee Benefits
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related
service is provided.
II Long term Employee Benefits:
Provident Fund and Superannuation Contribution are accrued each year in terms of contracts with the employees.
Provision for Gratuity is determined and accrued on the basis of actuarial valuation by Life Insurance Corporation of
India. Leave encashment benefit to employees has been provided on an estimated basis.
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