r. Provisions (other than employee benefits)
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. If the effect of the time value of money is material, provisions are
discounted at a current pre-tax rate that reflects the risks specific to the liability. When discounting is used, the increase
in the provision due to the passage of time is recognised as a finance cost.
The amortisation or “unwinding” of the discount applied in establishing the provision is charged to the income statement
in each accounting period. The amortisation of the discount is shown within finance costs in profit or loss.
s. Current and non-current classification
The Company presents assets and liabilities in the balance sheet based on current / non-current classification.
An asset is classified as current when it satisfies any of the following criteria:
- it is expected to be realized in, or is intended for sale or consumption in, the Company's normal operating cycle.
- it is held primarily for the purpose of being traded;
- it is expected to be realized within 12 months after the reporting date; or
- it is cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least 12
months after the reporting date.
All other assets are classified as non-current.
A liability is classified as current when it satisfies any of the following criteria:
- it is expected to be settled in the Company's normal operating cycle;
- it is held primarily for the purpose of being traded;
- it is due to be settled within 12 months after the reporting date; or
- the Company does not have an unconditional right to defer settlement of the liability for at least 12 months after the
reporting date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of
equity instruments do not affect its classification.
All other liabilities are classified as non-current.
Deferred tax assets and liabilities are classified as non current only.
t. Contingent Liabilities
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which
will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the
control of the Company or a present obligation that arises from past events where it is either not probable that an outflow
of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. The material
accounting policies adopted in preparation of standalone financial statements has been disclosed as below. All accounting
policies has been consistently applied to all the period presented in the standalone financial statements unless otherwise
stated. Provisions, contingent liabilities and contingent assets are reviewed at each reporting date.
u. Events after the reporting date
If the Company receives information after the reporting period, but prior to the date of approved for issue, about conditions
that existed at the end of the reporting period, it will assess whether the information affects the amounts that it recognises
in its standalone financial statements. The Company will adjust the amounts recognised in its financial statements to
reflect any adjusting events after the reporting period and update the disclosures that relate to those conditions in light
of the new information. For non-adjusting events after the reporting period, the Company will not change the amounts
recognised in its standalone financial statements, but will disclose the nature of the non-adjusting event and an estimate
of its financial effect, or a statement that such an estimate cannot be made, if applicable.
v. Climate related matters
The Company considers climate-related matters in estimates and assumptions, where appropriate. This assessment
includes a wide range of possible impacts on the Company due to both physical and transition risks. Even though the
Company believes its business model and products will still be viable after the transition to a low-carbon economy,
climate-related matters increase the uncertainty in estimates and assumptions underpinning several items in the financial
statements. Even though climate-related risks might not currently have a significant impact on measurement, the
Company is closely monitoring relevant changes and developments, such as new climate-related legislation. The items
and considerations that can be impacted by climate-related matters are:
• Useful life of property, plant and equipment.
• Impairment of non-financial assets.
• Fair value measurement.
• Decommissioning liability.
w. Risk of tariff imposition
The management has evaluated the likely impact of prevailing uncertainties relating to imposition or enhancement of
reciprocal tariffs and believes that there are no material impacts on the financial statements of the Company for the year
ended March 31, 2025. However, the management will continue to monitor the situation from the perspective of potential
impact on the operations of the Company.
The preparation of financial statements in conformity with the recognition and measurement principles of Ind AS requires
management of the Company to make estimates and judgements that affect the reported balances of assets and liabilities,
disclosures of contingent liabilities as at the date of financial statements and the reported amounts of income and expenses
for the periods presented. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimates are revised, and future periods are affected.
The Company uses the following critical accounting judgements, estimates and assumptions in preparation of its financial
statements:
a. Defined Benefit Plans - The cost of the employment benefits such as gratuity and leave obligation are determined using
actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments
in the future. These include the determination of the discount rate, future salary increases and mortality rates. Due to the
complexities, involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes
in these assumptions. All assumptions are reviewed at each reporting date.
Further details about gratuity obligations are given in note no. 32.
b. Useful lives of depreciable/ amortisable assets - Management reviews its estimate of the useful lives of depreciable/
amortisable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates
relate to technical and economic obsolescence that may change the utility of certain software, customer relationships, IT
equipment and other plant and equipment (Refer Note No.3).
c. Significant judgments when applying Ind AS 115 - Revenue is recognised upon transfer of control of promised
products or services to customers in an amount that reflects the consideration which the Company expects to receive
in exchange for those products or services. The application of revenue recognition accounting standards is complex and
involves a number of key judgements and estimates. Revenue is measured based on the transaction price, which is the
consideration, adjusted for volume discounts, price concessions and incentives, if any, as specified in the contract with the
customer/dealer. The Company makes estimates related to customer performance and sales volume to determine the total
amounts earned and incentive to be recorded as deductions (Refer Note No.24).
d. Recognition of current tax and deferred tax - The Company uses judgements based on the relevant rulings in the
areas of allocation of revenue, costs, allowances, and disallowances which is exercised while determining the provision for
income tax. Deferred income tax expense is calculated based on the differences between the carrying value of assets and
liabilities for financial reporting purposes and their respective tax basis that are considered temporary in nature. Valuation
of deferred tax assets is dependent on management's assessment of future recoverability of the deferred benefit. Expected
recoverability may result from expected taxable income in the future, planned transactions or planned tax optimizing
measures. Economic conditions may change and lead to a different conclusion regarding recoverability (Refer Note No.7
and 23).
e. Provision for expected credit losses of trade receivables and contract assets - The Company uses a provision
matrix to calculate ECLs for trade receivables and contract assets. The provision rates are based on days past due for
Comparing of various customer that have similar loss patterns. The provision matrix is initially based on the Company's
historical observed default rates. The Company will calibrate the matrix to adjust the historical credit loss experience with
forward-looking information. At every reporting date, the historical observed default rates are updated and changes in the
forward-looking estimates are analysed.
The assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a
significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The
Company's historical credit loss experience and forecast of economic conditions may also not be representative of customer's
actual default in the future.
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, The below two amendments are
not yet notified: -
• Amendments to Ind AS 7 and Ind AS 107 - Supplier Finance Arrangements- The MCA issued amendments to Ind AS 7
Statement of Cash Flows and Ind AS 107 Financial Instruments: Disclosures clarify the characteristics of supplier finance
arrangements and require additional disclosure of such arrangements. The disclosure requirements in the amendments
are intended to assist users of financial statements in understanding the effects of supplier finance arrangements on an
entity's liabilities, cash flows and exposure to liquidity risk.
• Amendments to Ind AS 1 - Classification of Liabilities as Current or Non-current- The MCA issued amendments
to paragraphs 69 to 76 of Ind AS 1 to specify the requirements for classifying liabilities as current or non-current. The
amendments clarify:
♦ What is meant by a right to defer settlement
♦ That a right to defer must exist at the end of the reporting period
♦ That classification is unaffected by the likelihood that an entity will exercise its deferral right
♦ That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability
not impact its classification
In addition, a requirement has been introduced to require disclosure when a liability arising from a loan agreement is classified
as non-current and the entity's right to defer settlement is contingent on compliance with future covenants within twelve
months. The amendments had no impact on the classification of Company's liabilities.
7. Income Tax and Deferred Tax (Contd.)
(vi) The Company has reviewed its income tax treatments in order to determine whether they could have an impact on the financial
statements and concluded that it has no material impact on the Company's financial statements. As a practice, where the
interpretation of income tax law is not clear, management relies on some or all of the following factors to determine the
probability of its acceptance by the tax authority:
• Strength of technical and judicial argument and clarity of the legislation;
• Past experience related to similar tax treatments in its own case;
• Legal and professional advice or case law related to other entities.
After analysing above factors for each of such uncertain tax treatments, where the Company expects that the probability to
sustain its position on ultimate resolution of such uncertain tax treatment is remote, the Company ensures that such uncertain
tax positions are adequately provided for in the Company's financial Statements.
12. Equity Share Capital (Contd.)
e) Terms/Rights attached to the Equity Shares
The company has only one class of equity shares having par value of H1/- per share. Each holder of equity shares is entitled to
one vote per share.
The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to
the approval of shareholders in the Annual General Meeting, except in case of interim dividend.In the event of liquidation of
the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all
preferential amounts in proportion to their shareholdings.
f) The Company does not have any Holding/ Ultimate Holding Company. As such, no shares are held by them or their Subsidiaries/
Associates
g) There are NIL ( Previous year NIL) shares reserved for issue under option and contracts/commitment for the sale of shares/
disinvestment.
h) During the period of five years immediately preceeding the reporting date:
i. No shares were issued for consideration other than cash
ii. No bonus shares were issued
iii. No shares were bought back
i) There are NIL (Previous year NIL) securities convertible into Equity/ Preference Shares.
j) There are NIL (Previous year NIL) calls unpaid including calls unpaid by Directors and Officers as on the balance sheet date.
k) No shares were forfeited during the year or during the previous year.1,38,000 equity shares of H10/-each (post split 13,80,000
equity shares of H1 each) on which H3.54 lacs had been paid up, were forfeited in the year 2001-2002.
13. Other Equity (Contd.)
General Reserve: General reserve is created from time to time by way of transfer of profits from retained earnings for appropriation
purpose. General reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive
income.
Capital Redemption Reserve: This reserve was created upon redemption of preference shares by company in FY 2012-2013.
Retained Earnings: Amount of retained earnings represents accumulated profit and losses of the Company as on reporting date.
Such profits and losses are after adjustment of payment of dividend, transfer to any reserves as statutorily required and adjustment
for remeasurement gain loss on defined benefit plan.
Notes:-
a) Cash Credit and Buyer's Credit for raw materials from banks amounting to H11,217.03 lacs (31st March, 2024 : H6,700.75 lacs)
are secured by way of first pari passu charge on current assets (both present and future) of 6 units of the company viz. Diamond
Harbour Road, W.B., Ramba Road, Taraori, Haryana, Chinnappolapuram, Tamilnadu, Mirza Palasbari Road, Assam, Bacchau,
Gujarat and Doulowal, Hoshiarpur, Punjab.
b) Buyer's Credit for Capital expenditure from banks amounting to H16,116.19 lacs (31st March, 2024 : H10,865.29 lacs) are secured
by way of first pari passu charge on moveable and immovable fixed assets of the manufacturing unit located at Diamond
Harbour Road, Bishnupur, West Bengal for Capex Buyer's Credit of Standard Chartred Bank and on first pari passu charge on
fixed assets of Particle Board unit at Vill. Goommidipondi, Tiruvallur, Tamilnadu for Capex Buyer's credit facility of DBS Bank
India Ltd. These Buyers Credit are eligible for roll over for upto 3 years as per RBI guidelines.
c) Secured - Working Capital demand loan of H22,293.31 lacs (31st March,2024 H2,500.00 lacs) is secured against 1st pari passu
charge on current assets of all 6 units located at Joka (WB),Karnal (Haryana),Bacchau (Gujarat),Hoshiarpur (Punjab),Palasbari
(Assam) and Gummidipoondi (Tamil Nadu) carrying rate of interest 7.55% to 8.85% repayable on demand.
d) Loan from Subsidiary Company is repayable on demand and carries interest @ 7.50% (31st March,2024 : 7.50%) p.a.
e) Buyers credit carries interest @ SOFR plus 0.50% to 0.90% p.a. (31st March,2024 : 0.65% to 0.95%) p.a. for raw-materials and
@ SOFR plus 0.75% p.a. to 0.95% p.a. (2023-24 : 0.72% to 0.95%) p.a. for capital expenditure and is repayable in 90-180 days.
f) Rate of Interest for Packing Credit is 6.00% to 8.50% (31st March,2024 : 5.32% to 6.80% )p.a. repayable on maturity.
g) The cash credit is repayable on demand and carries interest @ 7.94% to 8.95% (31st March,2024 : 8.10% to 10.35%) p.a.
h) Unsecured working capital loan of H13,491.42 lacs (31st March, 2024 - H10,295.28 lacs) taken from ICICI and HDFC Bank
carrying rate of interest 7.55% to 8.09% p.a. repayabale on maturity.
i) Borrowings secured against current assets -The Company has filed quarterly returns/revised returns with the banks in lieu of
the sanctioned working capital facilities, which are in agreement with the books of account for the year ended 31st March, 2025
and other than those as set out below for the year ended 31st March, 2024.
32. Gratuity and Other Post Employment Benefit Plans
The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service is entitled to
Gratuity on terms not less favourable than the provisions of The Payment of Gratuity Act, 1972. The scheme is funded with an
insurance company.
The Company also extends benefit of compensated absences to the employees, whereby they are eligible to carry forward their
entitlement of earned leave for encashment upon retirement/separation. This is an unfunded plan.
The following tables summarise the components of net benefit expense recognised in the statement of profit and loss and the
funded status and amounts recognised in the balance sheet for the Post - retirement benefit plans.
34. Capital Management
The Company's objective to manage its capital is to ensure continuity of business while at the same time provide reasonable returns
to its various shareholders but keep associated cost under control. In order to achieve this, requirement of capital is reviewed
periodically with reference to operating and business plans that take into account capital expenditure and strategic investments.
Apart from internal accrual, sourcing of capital is done through judicious combination of equity and borrowing, both the short term
and long term. Net debt (total borrowing including lease liabilities) to equity ratio is used to monitor capital.Net Debt Equity Ratio
is computed as - (Long Term Borrowings Short Term Borrowings)/ Total Equity.
# Remuneration of Key Management Personnel represents short term employee benefits, as the liabilities for defined benefit
plans and compensated absences are provided on actuarial basis for the Company as a whole, the amounts pertaining to Key
Management Personnel are not included.
* Pertains to Non Fund Based credit facilities
c) Terms and conditions of transactions with related parties
1. The sales to/ purchases from/ services availed from/ services provided to related parties are made on terms equivalent to
those that prevail in arm's length transactions and in the ordinary course of business. Sales / purchases generally include
payment terms of 0 to 60 days from the date of invoice. Trade receivables and Trade payables outstanding balances are
unsecured, interest free and require settlement in cash. No guarantee or other security has been received / given against
these receivables / payables.
2. Outstanding balances at the year-end from related parties are unsecured and interest free.
3. Employee related recoverable balances are unsecured and interest free.
4. The Company has provided loan to its subsidiary for its business activities. The loan was unsecured and was repayable on
demand.The loan carries an interest 31st March,2025 @7.50% p.a.(31st March, 2024 @7.50% p.a.)
Notes:-
1) 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
significantly different from the values that would eventually be received or settled.
2) Investment in subsidiaries are being carried at cost hence not reported.
3) The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable
or unobservable and consists of the following three levels.
Level 1: Hierarchy includes financial instruments valued using quoted market prices.
Level 2: Hierarchy includes financial instruments that are not traded in active market. These are valued using observable market
data such as yield etc. of similar instruments traded in active market.
Level 3: If one or more significant inputs is not based on observable market data, the instrument is included in level 3.
40. Financial Risk Management-Objectives and Policies
The Company's financial liabilities comprise long term borrowings, short term borrowings, capital creditors, trade and other
payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's financial assets
include trade and other receivables, cash and cash equivalents, investment in subsidiaries at cost and deposits.
The Company is exposed to market risk and credit risk. The Company has a Risk management policy and its management is supported
by a Risk management committee that advises on risks and the appropriate risk governance framework for the Company. The audit
committee provides assurance to the Company's management that the Company's risk activities are governed by appropriate
policies and procedures and that risks are identified, measured and managed in accordance with the Company's policies and risk
objectives. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.
(i) Market Risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in
market prices. Market risk comprises risk of interest rate, currency risk and other price risk, such as commodity price risk and
equity price risk. Financial instruments affected by market risk include FVTPL investments.
a. Foreign Currency Risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes
in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily
to the Company's operating activities. The Company has a treasury department which monitors the foreign exchange
fluctuations on the continuous basis and advises the management of any material adverse effect on the Company.
(ii) Credit Risks
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables).
The Company implements a credit risk management policy under which the Company only transacts business with
counterparties that have a certain level of credit worthiness based on internal assessment of the parties, financial condition,
historical experience, and other factors. The Company's exposure to credit risk is influenced mainly by the individual
characteristics of each customer. The Company has established a credit policy under which each new customer is analysed
individually for creditworthiness.
Trade receivables
An impairment analysis is performed at each reporting date on an individual basis for all the customers. In addition, a large
number of minor receivables are grouped Company into homogenous Company and assessed for impairment collectively. The
calculation is based on credit losses historical data. The maximum exposure to credit risk at the reporting date is the carrying
40. Financial Risk Management-Objectives and Policies (Contd.)
value of trade receivables disclosed in Note 10 as the Company does not hold collateral as security. The Company has evaluated
the concentration of risk with respect to trade receivables as low, as its customers are located in several jurisdictions and
industries.
Refer Note No.10 for ageing of trade receivable as of 31st March, 2025 and 31st March, 2024.
No significant changes in estimation techniques or assumptions were made during the reporting period.
Credit risk also arises from transactions with financial institutions, and such transactions include transactions of cash and
cash equivalents, various deposits, and financial instruments such as derivative contracts. The Company manages its exposure
to this credit risk by only entering into transactions with banks that have high ratings. The Company's treasury department
authorizes, manages, and oversees new transactions with parties with whom the Company has no previous relationship.
Furthermore, the Company limits its exposure to credit risk of financial guarantee contracts by strictly evaluating their necessity
based on internal decision making processes, such as the approval of the board of directors.
(iii) Liquidity Risk
The Company's objective is to maintain optimum levels of liquidity to meet its cash and collateral requirements at all times.
The Company relies on a mix of borrowings and excess operating cash flows to meet its needs for funds. The current committed
lines of credit are sufficient to meet its short to medium/ long term expansion needs. The Company monitors rolling forecasts of
its liquidity requirements to ensure it has sufficient cash to meet operational needs. Besides, it generally has certain undrawn
credit facilities which can be accessed as and when required; such credit facilities are reviewed at regular intervals. Thus, no
liquidity risk is perceived at present.
41. The Company’s Segment Information as at and for the year ended 31st March 2025 are as below:
(Contd.)
(b) The Company recognised revenue at point in time.
(c) Company's Property Plant and Equipment (PPE) are located only in India. Hence separate figures for same have not been
furnished.
(d) During the year there is no revenue from a single customer which is more than 10% of company's revenue.
(e) Investment in subsidiaries have been considered as a part of segment assets in line with the reporting to CODM.
42 . The Code on Social Security, 2020 (‘Code') relating to employee benefits during employment and post-employment benefits,
received Presidential assent in September, 2020. The Code has been published in the Gazette of India. Certain Sections of the
Code came into effect on 3rd May, 2023.However, the final rules/interpretation have not been issued. Based on preliminary
assessment, the Company believes the impact of the change will not be significant
44. Leases
a) The Company has lease contracts for land. The Company's obligations under leases are secured by the lessor's title to the
leased assets.
b) The Company has elected to apply IND AS 116 to its leases with modified retrospective approach. Under this approach, the
company has recognised lease liabilities and corresponding right of use assets. In the statement of profit and loss for the year
ended, depreciation expenses on right of use assets and finance cost for interest accrued on such lease liability has been
recognized.
47. During the previous year ended 31st March, 2024, the Company had entered into a sale agreement for sale of shares in one of
its subsidiaries, Century Ply (Singapore) Pte Ltd. Consequently, difference between the carrying value of the investment and
the sale proceeds was recognised as impairment loss amounting to H1,960.00 Lacs in the Statement of Profit and Loss in the
previous year ended 31st March, 2024. The residual book value of investment was classified as “Assets held for sale” as on
31st March, 2024. During the year ended 31st March, 2025, all the shares of subsidiary were sold and transferred for a total
consideration of H766.06 Lacs.
Impairment loss for the quarter and year ended 31st March, 2024, includes H446.00 Lacs on account of investment in subsidiary,
Century Infotech Ltd. which is presently non - operational and whose net worth is substantially eroded.
48. The Company has used multiple accounting software for maintaining its books of account which have a feature of recording
audit trail (edit log) facility except for SAP application where audit trail could not be enabled for technical reason at the
transactional and database level throughout the year for all relevant transactions recorded in the application. Further, for CAPS
Payroll application the audit trail feature is enabled and operating effectively throughout the year for all relevant transactions
recorded in the application and for HONO Payroll application, which is operated by third party software service provider for
maintaining its books of accounts, audit trail is enabled and operated throughout the year for all relevant transactions recorded
in the application based on the Service Organization Controls 2 (SOC-II) report provided in respect of this application.
Furthermore, no instance of audit trail feature being tampered with was noted in respect of accounting software(s) where the
audit trail has been enabled.
Additionally, the audit trail of previous year has been preserved by the Company as per the statutory requirements for record
retention to the extent it was enabled and recorded in the respective year.
49. Additional disclosures relating to the requirement of revised Schedule III.
(i) No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.
(ii) Century Plyboards (India) Limited has not been declared wilful defaulter by any bank or financial institution or government or
any government authority.
(iii) Century Plyboards (India) Limited has complied with the number of layers prescribed under the Companies Act, 2013.
(iv) There is no undisclosed income under the Income Tax Act, 1961 for the year ending 31st March 2025 and 31st March 2024
which needs to be recorded in the books of account.
(v) Century Plyboards (India) Limited has not traded or invested in crypto currency or virtual currency during the current or
previous year.
(vi) The borrowings obtained by the company from banks and financial institutions have been applied for the purposes for which
such loans were taken.
(vii) There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the statutory period.
(viii) Relationship with struck off companies
Disclosure related to relationship of the Company with a company which is struck off under Section 248 of the Companies Act,
2013 or Section 530 of Companies Act, 1956 as on 31st March 2025 are as follows:
(ix) Utilisation of Borrowed Fund & Share Premium:
(i) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other person or entity, including foreign entities (“Intermediaries”) with the understanding
(whether recorded in writing or otherwise) that the Intermediaries shall, whether, directly or indirectly lend or invest in
other persons / entities identified in any manner whatsoever by or on behalf of the Company (‘Ultimate Beneficiaries') or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries, other than loans aggregating H426.68
lakhs given during the year to Century Panels Limited, a subsidiary in the ordinary course of business and in keeping
with the applicable regulatory requirements for onward funding to its certain subsidiaries towards meeting their business
requirements. Accordingly, no further disclosure, in this regard, is given.
(ii) The Company has not received any fund from any person(s) or entities, including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Company shall: (a) directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries)
or (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
50. Subsequent event
The Company has recommended a final dividend of H1.00 per share (100% per share of face value of H1 each) for the financial
year ended 31st March, 2025, subject to shareholders approval at annual general meeting.
51. Previous year's figures have been rearranged and/or recomputed, wherever necessary.
52 . The financial statements have been approved by the Audit Committee at its meeting held on 29th May, 2025 and by the Board
of Directors on the same date.
As per our attached report of even date
For S.R.Batliboi & Co. LLP For and on behalf of the Board of Directors
Firm Registration No.- 301003E/E300005
Chartered Accountants
Sajjan Bhajanka Sanjay Agarwal
Chairman & Managing Director CEO & Managing Director
DIN:00246043 DIN:00246132
Sanjay Kumar Agarwal
Partner
Membership No. 060352
Place: Kolkata Arun Kumar Julasaria Sundeep Jhunjhunwala
Date: 29th May, 2025 Chief Financial Officer Company Secretary
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