v Provisions, Contingent liabilities and Contingent assets
Provisions in respect of present obligations arising out of past events are made in accounts when reliable estimates
can be made of the amounts of obligations. Provisions are not discounted to their present value and reviewed at
each reporting date. Contingent liabilities & commitments are not accounted but disclosed separately. Contingent
assets are neither accounted nor disclosed in the financial statements.
w Earnings per share
The earnings considered in ascertaining the Company's earnings per share are net profit after tax. The number of
shares is considered on weighted average basis. Partly paid equity shares are treated as fraction of equity share
to the extent they are entitled to participate in dividends. For the purpose of calculating dilutive EPS, the net profit
attributable to equity shareholders and weighted average number of shares are adjusted for the effect of Dilutive
Potential Equity shares.
x Contingencies and events occurring after the Balance Sheet date -
The existence and nature of the contingency is disclosed separately. In case where the potential loss to an enterprise
can be reduced or avoided because a contingent liability is matched by a related counterclaim, the amount of the
provision on account of contingent liability is determined after taking into account the probable counterclaim if no
significant uncertainty as to its measurability or collectability exists.
The existence and amount of guarantees, obligations arising from discounted bills of exchange and similar
obligations undertaken by an enterprise have been disclosed in financial statements by way of notes.
y Net profit or loss for the period, prior period items and changes in accounting policies
Profit or loss from ordinary activities & extraordinary items have been disclosed on the face of the statement of profit
and loss. Extraordinary items have been disclosed in the statement of profit and loss as part of net profit or loss for
the period & the nature and the amount of each extraordinary item have been separately disclosed.
The nature and the amount of a change in an accounting estimate which has a material effect in the current period &
subsequent period have been disclosed or if it is impracticable to quantify the amount, that fact has been disclosed.
z Discontinuing operations
The discontinuing operations include such operations which are discontinued pursuant to single plan or which
represent major segment, or which can be distinguished operationally or financially. The Company has not
discontinued any of its operations during the year.
aa Interim financial reporting
Interim Financial Reporting is applicable to the Company as per SEBI rules. The Company gives condensed set of
the financial statements in the interim reporting which includes Balance Sheet, Statement of Profit & Loss, Cash flow
statement, notes and other explanatory material & Comments about seasonality of interim operations - if any. In
case of Balance Sheet, the period covered is end of current interim period & comparative Balance Sheet as at the
end of immediately preceding financial year.
"In case of Statement of Profit & Loss, the period covered is current interim period, cumulative for current financial
year to date, comparative Profit & Loss for the comparable interim period of immediately preceding financial year
& comparative year to date Profit & Loss of immediately preceding financial year.
In case of cash flow statement, the period covered is current financial year to date & comparative statement for
the comparable year to date period of immediately preceding financial year.
See accompanying notes to the financial For and on behalf of the Board of
statements Aurangabad Distillery Limited
As per our report of even date
For HMA & Associates
Chartered Accountants
Firm's Registration No. 100537W
Dharampal Kalani Amardeepsingh Sethi
Managing Director Wholetime Director
DIN - 00041021 DIN - 00097644
CA Anand D Joshi Karan Yadav Pooja Soni Uday Hemade
Partner CEO Company Secretary CFO
Membership No. 113805
Place: Pune Place: Pune
Date: 28 May 2025 Date: 28 May 2025
General Description of the Plan
1. The Company provides for gratuity, a defined benefit retirement plan covering eligible employees. The gratuity plan
provides a lumpsum payment to vested employees at retirement, death, incapacitation or termination of employment of
an amount based on respective employees' salary and tenure of employment with the Company. Liabilities with regard to
the gratuity plan are determined by actuarial valuation performed by an independent actuary at each Balance sheet date
using ‘Projected Unit Credit' method
2. The Company provides for leave encashment, a defined benefit obligation covering eligible employees. The leave
encashment plan provides a lumpsum payment to vested employees at retirement, death, incapacitation or termination of
employment of an amount based on respective employees' salary and number of unsused leaves accumulated during the
tenure of employment with the Company. Liabilities with regard to the leave encashment plan are determined by actuarial
valuation performed by an independent actuary at each Balance sheet date using ‘Projected Unit Credit' method.
3. The gratuity liability is unfunded and is accounted for on the basis actuarial valuation.
4. The leave encashment liability is not funded. Hence, there is no gain or loss on the plan assets. However, the actuarial
gain or loss as reported arises on account of changes in actuarial assumptions and/ or demographic changes in the
population profile.
1. Contingent liability on account of income tax demands relate to short deduction of TDS Rs.1.06 lakh, short payment of TDS
Rs. 0.04 lakh, Interest on late payment and short deduction and interest u/s 220(2) amounting to Rs 0.80 lakh for various
periods. The liability is uncertain relating to its outflow as it depends upon rectification of defaults on traces by filing revised
TDS returns for various periods. There is no possibility of reimbursement of the expenses if the liability is crystallised.
2. Contingent liability on account of indirect tax demands relate to liability of MVAT against which Writ Petition is pending in
the Hon'ble High Court. Possibility of reimbursement is to the extent of advances received on account of taxes in Note no.
10.
3. Contingent liablity on account of state excise demand relates to demand arising vide order dated 14/08/2023 passed by
Office of Commissioner, State Excise, Maharashtra, for payment of duty on rectified spirit on the grounds that the Company
has released 34,58,175 litres of pure alchohol for manufacturing of liquor. The Company has challenged this order, and
a temporary stay was granted till further order with immediate effect by the State Excise Duty Minister on 05/09/2023.
However, the stay order does not mention how long the stay is valid, and no further action has been taken by the excise
department since the stay was granted. The liability is uncertain as the case is pending with State Excise Department. There
is no possibility of reimbursement if the liability is crystallised.
4. Bank guarantee is given to Maharashtra Pollution Control Board of HDFC Bank. There is uncertainty of outflow because the
gaurantees will be invoked by the bank in case of non-performance / violation of agreed terms by the Company. There is
no possibility of reimbursement.
i. The reasons for variances less than 25% are not explained as such variances are not considered significant.
Reasons for Variances
1. Return on equity Ratio - The variance in the return on equity ratio is primarily due to a decrease in net profit after tax,
combined with an increase in the company's equity during the year.
2. Trade payables turnover ratio - The ratio has improved during the year on account of prompt payment of trade payables.
3. Net capital turnover ratio - The variance is on account of decrase in revenue and increase in trade advances given to
suppliers of raw material for the next financial year.r.
4. Return on Capital Employed - The variance in capital turnover ratio is due to lower profits and an increase in capital from
additional equity and borrowings.
Nature of CSR activities
1. Gross amount required to be spent as per section 135 of the Companies Act, 2013 - Rs. 41.08 lakhs (P.Y. Rs. 26.23 lakhs)
2. Excess expenditure incurred in earlier years set off against current year - Rs. 0.08 lakhs (P.Y. Rs. 0.23 lakhs). Balance amount
available for set off in subsequent years - Rs. 0.07 lakhs (P.Y. Rs. 0.15 lakhs).
3. Rs. 41 lakh donation given to Dashmesh Education Society.
44 Other Regulatory Disclosures as per the Companies Act, 2013
1. The Company does not have any Benami property, where any proceeding has been initiated or pending against the
company for holding any Benami property.
2. The Company has not been declared as wilful defaulter by any bank or financial institution or any other lender.
3. The Company does not have any transactions with companies struck off under section 248 of the Companies Act, 2013.
4. The company does not have any subsidiaries and hence compliance with the number of layers prescribed under clause
(87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 is not attracted.
5. The Company has not entered into any scheme of arrangements.
6. Loans/advances/investment out of borrowed fund/share premium/any other source of fund, to any person, including
foreign entity, with intention of further investment/loan/guarantee/security on behalf of the Company - Nil
7. Amount received by the Company as Loans/advances/investment, from any person, including foreign entity, with intention
of further investment/loan/guarantee/security on behalf of the such funding party - Nil
8. The Company does not have any undisclosed income which is not recorded in the books of account that has been
surrendered or disclosed as income during the year (previous year) in the tax assessments under the Income Tax Act, 1961
such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.
9. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
45 Segment Reporting
1. Though the Company has two business segments namely, distillery division and potash division, the turnover of potash
division is less than 10% of the total turnover. Hence, segment reporting for business segment as primary segment is not
required to be disclosed.
2. In terms of secondary segment being geographical segment, separate disclosure is not required as the turnover of exports
is less than 10% of the total turnover.
See accompanying notes to the financial For and on behalf of the Board of
statements Aurangabad Distillery Limited
As per our report of even date
For HMA & Associates
Chartered Accountants
Firm's Registration No. 100537W
Dharampal Kalani Amardeepsingh Sethi
Managing Director Wholetime Director
DIN - 00041021 DIN - 00097644
CA Anand D Joshi Karan Yadav Pooja Soni Uday Hemade
Partner CEO Company Secretary CFO
Membership No. 113805
Place: Pune Place: Pune
Date: 28 May 2025 Date: 28 May 2025
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