T. Provisions, Contingent Liabilities and Contingent
Assets:
Provisions:
Provisions are recognised when the Company has a
present obligation (legal or constructive) as a result of
a past event, it is probable that an outflow of resources
embodying economic benefits will be required to
settle the obligation and a reliable estimate can be
made of the amount of the obligation. When the
Company expects some or all of a provision to be
reimbursed, for example, under an insurance contract,
the reimbursement is recognised as a separate asset,
but only when the reimbursement is virtually certain.
The expense relating to a provision is presented in the
Statement of Profit and Loss net of any reimbursement.
Contingent Liabilities:
Contingent liability is disclosed for (i) Possible
obligations which will be confirmed only by the future
events not wholly within the control of the company or
(ii) Present obligations arising from past events where
it is not probable that an outflow of resources will be
required to settle the obligation or a reliable estimate
of the amount of the obligation cannot be made.
Contingent Assets:
Contingent Assets are not recognised but are disclosed
in the notes to the financial statements.
The Provisions, contingent liabilities and contingent
assets are reviewed at each balance sheet date.
U. Earnings Per Share:
Basic earnings per share are calculated by dividing the
net profit or loss for the period attributable to equity
shareholders by the weighted average number of
equity shares outstanding during the period.
For the purpose of calculating diluted earnings per
share, the net profit or loss for the period attributable to
equity shareholders and the weighted average number
of shares outstanding during the period are adjusted
for the effects of all dilutive potential equity shares.
V. Segment Reporting
The operating segments are the segments for which
separate financial information is available and for
which operating profit/loss amounts are evaluated
regularly by the Managing Director or the Whole
Time Director in deciding how to allocate resources
and in assessing performance. Operating segments
are reported in consistent manner with the internal
reporting provided to the Managing Director or
the Whole Time Director of the Company. They are
responsible for allocating resources and assessing
performance of the Company.
Unallocable items include general corporate income
and expense items which are not allocated to any
business segment.
1.4. RECENT PRONOUNCEMENTS
Recent Indian Accounting Standards (Ind AS) issued
not yet effective
Ministry of Corporate Affairs ("MCA") notifies new
standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules
as issued from time to time. For the year ended March
31, 2025, MCA has notified Ind AS - 117 Insurance
Contracts and amendments to Ind AS 116 - Leases,
relating to sale and leaseback transactions, applicable
to the Company w.e.f. April 1, 2024. The Company has
reviewed the new pronouncements and based on its
evaluation has determined that it does not have any
significant impact in its financial statements.
(I I) Terms of Repayment
The above term loan is repayable in 48 months including moratorium period of 12 months and by way of
instalments of ' 2.00 Lakhs p.m. starting from July, 2021. Interest is payable at 9.25% p. a.( 9.25% p. a. for F.Y. 2023¬
24). The interest is payable as and when due during the moratorium period. The Company has fully repaid this loan
during the year.
_J
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