2.4 Depreciation
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Depreciation is on Straight-Line Method (SLM) as per Schedule II of the Companies Act, 2013.
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SI. No.
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Asset Category
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Useful Life
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1
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Buildings
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30 years
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2
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Plant & Machinery
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13 years
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3
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Computers
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3 years
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A
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Vehicles
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10 years
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5
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Furniture & Fixtures
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10 years
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2.5 Intangible Assets & Amortization
• Includes internally developed SaaS products (dSpeedUp, dBotMinds, dUltima, dRyZe CRM) and acquired licenses.
• Carried at cost less amortization and impairment.
• Amortized over 3-5 years, aligned to SaaS industry product lifecycles.
• Reviewed periodically for impairment triggers.
2.6 Impairment of Assets
• Assets reviewed annually for indicators of impairment.
• Impairment recognized when carrying value > recoverable amount (higher of fair value less cost to sell or value in use).
• Reversals allowed only to the extent that carrying value does not exceed depreciated cost had no impairment been recognized.
2.7 Inventory
The Company is engaged in SaaS-based services and does not deal in physical goods. Hence, Ind AS 2 - Inventories is not applicable.
2.8 Cash and Cash Equivalents
Includes cash in hand, demand deposits, and short-term liquid investments with maturities up to three months.
2.9 Cash Flow Statement
Prepared using the Indirect Method. Operating, investing, and financing activities are presented separately.
2.10 Revenue Recognition
Revenue is recognized under Ind AS 115:
• Subscriptions - over the subscription period.
• Implementation & setup fees - upon completion of obligations.
• Transaction-linked revenue - on transaction completion.
• Custom services - on percentage-of-completion basis.
Revenue excludes GST and similar taxes collected.
2.11 Employee Benefits
• Provident Fund - defined contribution plan, expensed when incurred.
• Gratuity & Leave Encashment - recognized based on actuarial valuation.
• ESOPs (if applicable) - fair value recognized over vesting period.
2.12 Taxation
• Current tax based on enacted tax laws.
• Deferred tax recognized on temporary differences using balance sheet approach.
• Deferred tax assets recognized when future taxable profits are probable.
2.13 Earnings Per Share (EPS)
• Basic EPS - net profit attributable to equity shareholders r weighted average shares.
• Diluted EPS - adjusted for potential dilutive shares.
2.14 Foreign Currency Transactions
• Transactions recorded at transaction-date rates.
• Monetary items revalued at closing rates.
• Exchange differences recognized in Profit & Loss.
2.15 Borrowing Costs
• Capitalized if directly attributable to qualifying assets.
• Otherwise expensed in the period incurred.
2.16 Events after the Reporting Period
Evaluated for adjustments/disclosure. No material events occurred post March 31, 2025.
2.17 Audit Trail Feature
MCA has mandated use of accounting software with audit trail from April 1, 2023. The Company uses Tally Prime.
• Due to technical issues, the audit trail module was not functional in FY 202A-25.
• Books are properly maintained with supporting evidence.
• Management is working to activate this feature at the earliest.
3. Trade Payable Aging Schedule
As on March 31, 2025, the Company has no outstanding trade payables.
A. Dividend Disclosure
The Company has not declared or paid dividends in the last five years. The Board has resolved to conserve resources until operations and profitability stabilize. Dividend distribution will be considered thereafter.
5. Compliance with Benami Transactions Act
The Company confirms no benami transactions were undertaken during FY 202A-25.
6. Utilization of Proceeds from Rights Issue
The Company raised ?A6.37 crores via Rights Issue of partly paid-up equity shares. As of March 31, 2025, ?11.59 crores (25%) has been collected.
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Particulars
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Amount (? in Crores)
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Repayment of Promoter Loan
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8.25
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Rights Issue expenses & working capital
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1.25
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Balance held in current account
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2.09
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Total
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11.59
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The utilization is consistent with the objectives stated in the Letter of Offer.
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7. Promoter Shareholding
As of March 31, 2025, the promoters hold 62.26% of the Company's paid-up equity share capital.
8. Trade Receivables Aging
As on March 31, 2025, the Company's receivables stood at ?18.00 crores, comprising:
• ?5.00 crores outstanding for less than 180 days, and
• ? 13.00 crores outstanding for more than 180 days.
The management is actively pursuing recovery of long-outstanding dues.
9. Segment Information
In compliance with Ind AS 108, the Company has identified a single reportable segment - Software Development and Services.
10. Contingent Liabilities
The Company has no contingent liabilities as on March 31, 2025.
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