M. Contingent liabilities
The Company creates a provision where there is a present obligation as result of a past event that probably
requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure
for a contingent liability is made when there is a possible obligation or a present obligation that may, but
probably will not require an outflow of resources. Where there is a possible obligation or a present obligation in
respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
N. Segment Reporting
The accounting policies adopted for segment reporting are in line with the accounting policies of the Company.
Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on
the basis of their relationship to the operating activitiesofthe segment. Inter-segment revenue is accounted on the
basis of transactions which are primarily determined based on market / fair value factors. Revenue and expenses
have been identified to segments on the basis of their relationship to the operating activities of the segment. The
Company has two reportable business segment i.e. Garment Segment and FMCG Segment. The performance is
reviewed by the Board of Directors for allocation of resources and assessment of performance. Revenue, expenses
assets and liabilities which relate to the Company as a whole which are not allocable to segments on direct and/or
reasonable basis have been included under “unallocated revenue/ expenses/assets/liabilities.
32 Contingent Liabilities & Event occuring after the Balance Sheet Date
The managementofCompanydoesnotanticipateanycontingent liabilityhaving material effect on the position stated in the balance
sheet at the year.
To the best of knowledge of the management, there are no events occuring after the Balance sheet date that provide additional
information materially affecting the determination of the amount relating to the conditions exisiting at the Balance sheet date that
requires adjustment to the Assets or Liabilities of the Company.
33 In the opinion of the board and as certified by the management, all expenses charged to revenue and cash transaction entered into
are genuine and have been solely and exclusively incurred for the busniess of the Company
In the opinion of the Board the Current Assets, Loans & Advances are realisable in the ordinary course of business at least equal to
the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of
amount reasonably necessary.
35 Some of Trade Receivables, Trade Payables, Loans and advances and other current and non current are subject to confirmation and
reconciliation. Consequential adjustment thereof, if any, will be given effect into the books of accounts in the year of such
adjustment.
37 Other statutory information
i) The Company has not traded or invested in crypto currency or virtual currency during the year.
ii) The Company does not have any benami property held in its name. 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.
iii) There is no income surrendered or disclosed as income during the year in tax assessments under the Income Tax Act, 1961 (such
as search or survey), that has not been recorded in the books of account.
iv) The Company does not have any charges or satisfaction of charges which is yet to be registered with Registrar of Companies
beyond the statutory period.
v) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:
(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
Company (Ultimate Beneficiaries) or
(b) Provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.
vi) 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:
(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
vii) The Company has not been declared wilful defaulter by any banks / financial institution or government or any government
authority.
viii) The Company has not revalued its property, plant and equipment (including right of use assets) or intangible assets during the
current year or previous year.
ix) The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Companies Act 2013 read
with Companies (Restrictions on number of Layers) Rules, 2017.
x) TThe Company has obtained term loans from banks and financial institution during the year.
xi) The Company does not have any transactions and outstanding balances during the current as well previous year with
Companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
38 Ratios : As per Annexure "A"
Signatures to Notes 1 to 38
As per our report of even date For and on behalf of the Board of Directors
For Sharma Sharma & Co For DavinSons Retail Limited
Charterted Accountants,
FirmRegistrationNumber: 009462N
Sd/- Sd/- Sd/-
SuvirSharma MohitArora Nohit Arora
Partner Manging Director Whole Time Director
Membership Number: 088272 DIN: 07231072 DIN: 09424503
UDIN:25088272BMLIRP4032
Place: Delhi
Date: 30-05-2025
ShrutiKhanna KavitaWadhwa
Chief Financial Officer Company Secretary
Place: Delhi
Date: 30-05-2025
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