(k) Provisions & contingencies:
A provision is recognized when the company has a present obligation as a result of past events and it is probable that an
outflow of resources will be required to settle the obligation in respect of which reliable estimate can be made.
Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the
best estimate required to settle the obligation at the Balance sheet date. These are reviewed at each Balance Sheet date
and adjusted to reflect the current best estimates. Contingent Liabilities are disclosed in the notes. Contingent assets
are not recognized or disclosed in the Financial Statements.
(l) Borrowing Cost:
Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part
of the cost of such asset. A qualifying asset is one that necessarily takes substantial period of time to get ready for
intended use. All other borrowing costs are charged to revenue.
(m) Investments:
Investments, which are readily realizable and intended to be held for not more than one year from the date on which
investments are made , are classified as current investments. All other investments are classified as long term
investments.
Long-term investments are stated at cost, less provision for other than temporary diminution in the carrying value
of each
investment. Current investments are stated at the lower of cost and fair value.
(n) Earnings per Share:
Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the period. Diluted
earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary
items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes)
relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for
deriving basic earnings per share and the weighted average number of equity shares which could have been issued
on the conversion of all dilutive potential equity shares except where the result would be anti-dilutive.
(o) Foreign Currency Transactions
ForeignCurrencyTransactionsare recordedatthe exchangerateprevailing onthedateoftransaction.Allmonetaryforeign
currency assets/liabilities are translated at the rates prevailing on the date of balance sheet. The exchange difference
between the rates prevailing on the date of transaction and on the date of settlement as also on translation of monetary
items at the end of the period is recognized as income or expense, as the case may be.
(p) Revaluation of Assets
As and when Fixed Assets are revalued, to adjust the provision for depreciation on such revalued Fixed Assets, where
applicable, in order to make allowance for consequent additional diminution in value on considerations of age,
condition and unexpired useful life of such Fixed Assets.
*** The Company has not allotted any fully paid- up equity shares by way of bonus shares during the
period of five years immediately
preceding the balance sheet date nor has it issued shares for consideration other wise than in cash.
(B) Rights, preferences and restrictions attached to equity shares:
The Company has only one class of equity shares having a face value of ^10 each. These equity shares
rank pari passu in all respects,
including entitlement to voting rights, dividend, and repayment of capital. Each equity share carries one vote.
The shareholders are entitled
to receive dividends as and when declared by the Board of Directors and approved by the shareholders, in
proportion to the number of shares
held. In the event of liquidation, the equity shareholders will be entitled to receive the remaining assets of the
Company after settlement of
all liabilities, in proportion to their shareholding.
24 Segment Reporting
The Company's principal business is manufacturing and trading of cotton yarn and fabric. As per
Accounting Standard
(AS-17) Segment Reporting, issued by the Institute of Chartered Accountants of India, the Company
operates in a single
business and geographical segment and accordingly, no separate segment information is required to
be disclosed.
25 Basic and Diluted Earning per share:
For the purpose of calculation of basic and Diluted earning per share of following amounts have been
considered.
26 Micro, small and Medium Enterprises:
The balance outstanding to Micro and Small Enterprises registered under the Micro, Small and Medium
Enterprises
Development (MSMED) Act, 2006 has been disclosed based on the information received and
confirmed by the
Company from its creditors classified as Micro and Small Enterprises. Details of the same are provided
in Note No. 9 to the financial statements.
32 Additional Regulatory Requirements:
(i) The Company holds land located in Punjab, and the title deed of the said land is registered in the name of the
Company itself. There are no immovable properties whose title deeds are not held in the name of the Company as
on the reporting date.
(ii) As per the confirmation provided by the management of the Company, no revaluation of Property, Plant and
Equipment has been carried out during the reporting period.
(iii) As per the confirmation provided by the management, no loans or advances in the nature of loans have been granted
by the Company to promoters, directors, key managerial personnel (KMPs), or related parties (as defined under the
Companies Act, 2013), either severally or jointly with any other person, during the reporting period.
(iv) Details of Benami Property Held:
As per the confirmation provided by the management, no proceedings have been initiated or are pending against
the Company under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder for
holding any benami property during the reporting period.
(v) Borrowings:
The Company currently avails term loans and overdraft (OD) limits from a scheduled bank. In compliance with the
terms of sanction, the Company submits monthly statements of stock, trade receivables, and trade payables to the
of the Company.
(vi) As per the confirmation provided by the management, the Company has not been declared a wilful defaulter by any
bank, financial institution, or other lender during the reporting period.
(vii) As per the confirmation provided by the management, the Company has not entered into any transactions with
companies that have been struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies
Act, 1956 during the reporting period.
(viii) Registration of charges or satisfaction with Registrar of Companies;
As per the confirmation provided by the management, the Company has created charges over its assets in favour of
lenders and has duly filed the necessary charge-related forms and returns with the Registrar of Companies (ROC)
within the prescribed statutory timelines.
(ix) Compliance with number of layers of companies:
As per the confirmation provided by the management, the Company has complied with the limit on the number of
layers of subsidiaries prescribed under clause (87) of Section 2 of the Companies Act, 2013, read with the Companies
(Restriction on Number of Layers) Rules, 2017.
(x) Ratios - As per Attached annexure
36 CSR Disclosure
The provisions of Section 135(5) of the Companies Act, 2013, relating to Corporate Social Responsibility (CSR)
expenditure, are not applicable to the Company for the current financial year, and hence, no disclosure is required
in this regard.
37 During the reporting period, there were no transactions recorded in the books of account that were surrendered
or disclosed as income during any assessment under the Income-tax Act, 1961. Further, no income has been
surrendered or disclosed as undisclosed income during the year in the income tax assessments, and accordingly,
no such amounts are required to be reported in the financial statements.
38 The Company has neither traded in cryptocurrency or virtual currency nor held any such assets or liabilities during
the reporting period. Further, the Company has not received or made any payments in respect of cryptocurrency or
virtual currency during the year.
For and On behalf of Board of Directors
Anil Kumar Jain Geeta Jain
(Managing Director) (Director)
(DIN: 00150070) (DIN: 00153074)
Akanksha Jain Isha Avi Jain
(Chief Financial Officer) (Company Secretary) (CEO)
As per our report of even date
For Kuldeep Sharma & Associates
(FRN:024838N)
(Kuldeep Sharma)
(M.No: 084073)
Date: 28-05-2025
Place: New Delhi
UDIN: 25084073BMIZOF1504
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