The Board of Directors at its meeting held on August 6, 2024, approved a proposal to buy-back upto 3,60,000 equity shares of the Company for an aggregate amount not exceeding Rs. 702 Lakh, being 9.09% ofthe total paid up equity share capital at Rs. 195 per equity share. A Letter of Offer was made to all eligible shareholders The Company bought back 3,60,000 equity shares out of the shares that were tendered by eligible shareholders and which was settled on 26th September, 2024 and the Shares were extinguished on 3rd October, 2024, in Compliance with the applicable rules and regulations as mention here. Capital redemption reserve was created to the extent of share capital extinguished (Rs. 36 Lakh). The cost of buy-back of Shares, Rs. 702 Lakh and corresponding tax on buy-back of Rs 155 lakh wereoffset from retained earnings.
Terms / Rights attached to Shares
Equity Shares : The Company has only one class of equity shares having at par value of Rs.10/- per share. Equity shares are pari passu in all respects and each shareholder is eligible for one vote per share held. The Company declares and pays dividend in indian rupees. The dividend proposed by the board of Directors is subjeetto the approval of the shareholders at the ensuing AGM.
Note The Company has taken group gratuity and leave encashment policy from Life Insurance Company of India (LIC) for its liability to pay gratuity and leave encashment to its eligible employees at the time of their retirement In view of this and based on materiality level, the Company does not envisage risks such as plan deficit in the fund. So, disclosures as required under Ind AS 19" Employee Benefits" i.e. details of fund invested, sensitivity analysis, maturity profile of defined benefit obligation etc. are not provided.
S3 Segment Reporting
Company has only one primary segment of manufacturing and sale of labels and does not fall under secondary segment. In view of this, details of segment information is not given as required by Ind AS 108 "Operating Segment".
b) Fair value measurement:
Level 1: Quoted price in active markets for identical assets or liabilities
Level 2 : Inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly or indirectly Level 3 : Inputs for the assets or liabilities that are not based on observable market data (unobservable data)
c) Fair valuation method
The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.
d) Financial Instrument measured at Amortised Cost
The carrying amount of financial assets and financial liabilities measured at amortised cost in the financial statements are a reasonable approximation of their fair values since the Company does not anticipate that the carrying amounts would be sgnificantly different from the values that would eventually be received or settled.
38 Financial risk management
The management monitors and manages the Financial Risks by reviewing, from time to time, the Cash Flows, during the year. The risk towards loss due to volatility in foreign currency is regligible, even though the Company takes precautionary measures like forward booking for payments of imports. The
management takes due care for the credit risk of any default in contractual obligations. Obligations of interest and decrease in sale may be the highest risk
on profitability of the Company. The Country is facing non-availability of skilled manpower which may adversely affect profitability of the Company.
39 Additional Regulatory Information as required by Schedule III of the Companies Act, 2013
aj All title deeds of immovable properties (other than the properties where the company is the lessee and the lease agreement are duly executed in favour of lessee), are held in the name of company.
b) The company has not revalued its property, plant and equipment during the year.
c) The company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and the related parties, either severaly or jointly with any other person.
e) During the year there is no intangible assets under development hence ageing schedule is not applicable.
f) There is no proceedings that have been initiated or pending against the company for holding any benami property under the Benami Transactons (Prohibition) Act, 1988 |45 of 1988) and the rules made thereunder.
g) The company is having cash credit limit from bank which is secured aganst current assets. The company is required to submit quarterely returns or statements with bank However there is a difference in the value of quarterly returns or statements submitted with banc and the value as appearing in the books of accounts. Detailed reconciliation of the said difference is shown in below mentioned table >
h) The company is not declared willful defaulter by any bank or financial institution or other lender.
i) The company is not having any transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
j) During the year there were no charges or satisfaction of charges yet to be registered with Registrar of Companies beyond statutory period.
k) Provisions of clause (87) of section 2 of the act read with Companies (Restriction on number of Layers) Rules, 2017 regarding compliance with number of layers of companies is not applicable to the company.
l) Details of ratio is provided in rote 39.1.
m) During the year the company has not proposed any Scheme of Arrangements.
n) The company has not advanced or loaned or invested funds (either borrowed funds or share premiim or any other sources or kind of funds) to any other persons) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by a on behalf of the company (Ultimate Beneficiaries) or (i) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
o) The company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by a on behalf of the Fundng Party (Ultimate Beneficiaries) or (i) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
p) During the year the company is not having any unrecorded transactions that are surrendered or disclosed as income during tax assessments under Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act 1961) and there is no previously unrecorded income and related assets that have been properly recorded in the books or accounts during the year.
r) The company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
s) Figures of previous reporting year have been regrouped/ reclassified to conform to current year's classification.
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