i. Revenue
Revenue is recognised when the performance obligation is satisfied by transferring promised goods or services
(i.e. an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.
Revenue is measured at the fair value of the consideration received or receivable net of discounts, taking into
account contractually defined terms and excluding taxes and duties collected on behalf of the Government.
j. Foreign Currency Transactions
Items included in the Financial Statements are measured using the currency of the primary economic
environment in which the entity operates (the functional currency).The Standalone Ind AS Financial
Statements are presented in Indian Rupee (INR) which is Company's functional and presentation currency.
k. Cash and Cash Equivalents
For the purpose of presentation in the Statement of Cash Flows, Cash and Cash Equivalents includes cash in
hand, cheques/drafts in hand, demand deposits with banks, short term balances, highly liquid investments
that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes
in value. Book overdrafts are shown within Other Financial Liabilities in the Balance Sheet and form part of
Cash and Cash Equivalents in the Cash Flow Statement.
l. Income Tax
Income tax expense represents the sum of the current tax and deferred tax.
Current tax charge is based on taxable profit for the year. Taxable profit differs from profit as reported in the
Statement of Profit and Loss because some items of income or expense are taxable or deductible in different
years or may never be taxable or deductible. The Company's liability for current tax is calculated using Indian
tax rates and laws that have been enacted by the reporting date. Current tax assets and liabilities are offset
when there is a legally enforceable right to set off current tax assets against current tax liabilities and when
they relate to income taxes levied by the same taxation authority. The Company periodically evaluates
positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to
interpretation and establishes provisions where appropriate.
Deferred tax is the tax arising from temporary differences between the carrying amounts of assets and
liabilities in the Balance Sheet and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets
are recognised to the extent that it is probable that taxable profits will be available against which deductible
temporary differences can be utilised. Deferred tax is calculated at the tax rates that are expected to apply in
the period when the liability is settled or the asset realised, based on tax rates that have been enacted or
substantively enacted by the reporting date.
Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised
in Other Comprehensive Income or directly in equity. In this case the tax is also recognised in Other
Comprehensive Income or directly in equity respectively.
m. Retirement Benefits:
Currently there is no employee in the company who has been working for more than 5 years in continuous
service, hence there is no provision required for gratuity.
n. Earnings Per Share
Basic earnings per Share is calculated by dividing the profit for the period attributable to the owners of
Company by the weighted average number of equity shares outstanding during the period. The weighted
average number of equity shares outstanding during the period and for all periods presented is adjusted for
events, such as bonus shares, other than the conversion of potential equity shares that have changed the
number of equity shares outstanding without a corresponding change in resources. For the purposes of
calculating diluted earnings per share the profit for the period attributable to the owners of the Company and
the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive
potential equity shares.
o. Exceptional Items
When items of income or expense are of such nature, size and incidence that their disclosure is necessary to
explain the performance of the Company for the year, the Company makes a disclosure of the nature and
amount of such items separately under the head "Exceptional Items."
p. Segment Reporting
This clause is not applicable to the company.
Note No. 2 - Background
M/s Agarwal Float Glass India Limited (formerly known as Agarwal Float Glass India Private Limited) is engaged in the
trading of glass and related activities. The Company was listed on the NSE-SME platform on 23rd February 2023. For
further details, please refer to Note 1.
I. Cash credit facility consist of channel Financing of R 300 Lakhs by Standard Chartered Bank which is unsecured.
II. Cash credit facility consist of channel Financing of R 95 Lakhs by YES Bank which is unsecured.
III. Working Capital Demand loan of R 90 Lakhs by state bank of india is secured by hypothecation of entire current Asset.i.e., Raw
Material, finished goods, packing materials, consumables, stores and spares and book debts.
III. Cash Credit Facility and all other credit facilities by State bank of India (Taken over by HDFC Bank in future ) is secured by:
a. Hypothecation of entire current Asset.i.e., Raw Material, finished goods, packing materials, consumables, stores and spares and
book debts
both present & future.
b. Equitable Mortgage of:
i. Plot no. H-1-790, RIICO Industrial Area, sitapura, Jaipur -302022 owned by company.
ii. Residential Property at plot No.70, sonabari, golapura byepass road, Jaipur owned by Director.
iiilndustrial Property at Plot No.H-84, RIICO Industrial Area, sitapura, Jaipur -302022 owned by Relative of Director.
Additional Regulatory Information as per Para Y of Schedule III to Companies Act, 2013:
i. The Company does not have any immovable property (other than properties where the Company is the lessee and the lease agreements are duly
executed in favour of the lessee) whose title deeds are not held in the name of the company.
ii. The Company has not revalued its Property, Plant and Equipment.
iii. The Company has not granted loans or advances in the nature of loans are granted to promoters, Directors, KMPs and the related parties (as
defined under Companies Act, 2013,) either severally or jointly with any other person, that are:
(a) repayable on demand or
(b) without specifying any terms or period of repayment
iv. The Company does not have any capital work-in-progress.
v. The Company doesnot have any intangible assets under development.
vi. No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
vii. The Company has borrowings from banks or financial institutions on the basis of security of current assets and quarterly returns or statements of
current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts.
viii. The company is not declared as wilful defaulter by any bank or financial institution or other lender.
ix. The company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of
Companies Act, 1956
x. There are no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.
xi. The company does not have any investments and hence, compliance with the number of layers prescribed under clause (87) of section 2 ofthe
Act read with Companies (Restriction on number of Layers) Rules, 2017 is not applicable.
2 Debt Service Coverage Ratio incresed because increase in net operating income compared to the previous period.
3 Return on Equity Ratio incresed because increase in net operating margin compared to the previous period.
Trade payables turnover ratio incresed because company started taking the advantage of early payment discounts, cash discount and required to make
4
quick payments because of market trends and futuristic approach compared to the previous period.
5 Net profit ratio incresed because increase in net operating income compared to the previous period.
6 Return on Capital employed incresed because increase in net operating margin compared to the previous period.
xiii. The Company does not have any scheme of arrangements which has been approved by the Competent Authority in terms of sections 230 to 237
of the Companies Act, 2013.
xiv. A. 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, directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever ("Ultimate Beneficiaries") by or on behalf of the Company or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
B. 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 directly or indirectly, lend or invest in other persons or entities
identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding Parties or provide any guarantee, security or the
like on behalf of the Ultimate Beneficiaries.
## Based on the information available with the Company, there are no dues to Small and Micro enterprises as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006. The information regarding Micro and Small enterprises has been determined to the extent
such parties have been identified on the basis of information available with the Company.
### Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.
Signatures to Notes forming part of Financial Statements_
In terms of our attached report of even date For and on behalf of the Board of Directors
AGARWAL FLOAT GLASS INDIA LIMITED
For M/s Jethani & Associates (Formerly known as Agarwal Float Glass India Private Limited)
Chartered Acco untants
FRN : 010749C
Sd/- Sd/- Sd/-
CA. Umesh Kumar J ethani UMA SHANKAR AGARWAL MAHESH KUMAR AGARWAL
Partner (Manging Director) (Director)
M.No. 400485 DIN: 02806077 DIN: 02806108
Date : 28.05.2025
Place : Jaipur Sd/- Sd/-
UDIN:25400485BMIHUE3199 ASHOK PRAJAPAT PRIYANKA PARESH ADNANI
(CFO) (Company Secretary)
M.NO.: A60388
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