j. Provisions and contingent liabilities
A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is
probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash
flows (representing the best estimate of the expenditure required to settle the present obligation at the balance sheet date) at a pre-tax rate that reflects
current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as finance cost.
Expected future operating losses are not provided for.
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one
or more uncertain future events not wholly within the control of the Company. Where it is not probable that an outflow of economic benefits will be
required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the possibility of an outflow of economic
benefits is remote.
k. Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured,
regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account
contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.
However Goods and Services Tax (GST)/ sales tax/ value added tax (VAT) is not received by the Company on its own account. Rather, it is tax collected
on value added to the commodity by the seller on behalf of the government. Accordingly, it is excluded from revenue.
The specific recognition criteria described below must also be met before revenue is recognized.
i. Sale of goods
The Company recognized revenue when (or as) a performance obligation was satisfied, i.e. when ‘control’ of the goods underlying the particular
performance obligation were transferred to the customer.
Further, revenue from sale of goods is recognized based on a 5-Step Methodology which is as follows:
Step 1: Identify the contract(s) with a customer
Step 2: Identify the performance obligation in contract
Step 3: Determine the transaction price
Step 4: Allocate the transaction price to the performance obligations in the contract
Step 5: Recognise revenue when (or as) the entity satisfies a performance obligation
Revenue is measured based on the transaction price, which is the consideration, adjusted for volume discounts, service level credits, performance
bonuses, price concessions and incentives, if any, as specified in the contract with the customer. Revenue also excludes taxes collected from customers.
Contract assets are recognised when there is excess of revenue earned over billings on contracts. Contract assets are classified as unbilled receivables (only
act of invoicing is pending) when there is unconditional right to receive cash, and only passage of time is required, as per contractual terms.
Unearned or deferred revenue is recognised when there is billings in excess of revenues.
Contracts are subject to modification to account for changes in contract specification and requirements. The Company reviews modification to contract
in conjunction with the original contract, basis which the transaction price could be allocated to a new performance obligation, or transaction price of an
existing obligation could undergo a change. In the event transaction price is revised for existing obligation, a cumulative adjustment is accounted for.
ii. Other income
a. Dividend income is recognised in statement of profit or loss on the date on which the Company's right to receive payment is established.
b. Interest income or expense is recognised using the effective interest method.
The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial
instrument to:
- the gross carrying amount of the financial asset ; or
- the amortised cost of the financial liability
When calculating the effective interest rate, the Company estimates the expected cash flows by considering all the contractual terms of the
financial instrument but does not consider the expected credit losses. Interest income is included in other income in the statement of profit and
loss.
l. Income tax
Income tax comprises current and deferred tax. Current tax expense is recognized in statement of profit or loss except to the extent that it relates to items
recognized directly in other comprehensive income or equity, in which case it is recognized in other comprehensive income or equity.
(i) Current tax
Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or
receivable in respect of previous years. The amount of current tax reflects the best estimate of the tax amount expected to be paid or received after
considering the uncertainty, if any, related to income taxes. It is measured using tax rates (and tax laws) enacted or substantively enacted by the
reporting date.
Current tax assets and current tax liabilities are offset only if there is a legally enforceable right to set off the recognised amounts, and it is intended
to realise the asset and settle the liability on a net basis or simultaneously.
(ii) Deferred tax
Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes
and the corresponding amounts used for taxation purposes. Deferred tax is also recognized in respect of carried forward tax losses and tax credits.
Deferred tax is not recognized for:
- temporary differences arising on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects
neither accounting nor taxable profit or loss at the time of the transaction;
- temporary differences related to investments in subsidiaries to the extent that the Company is able to control the timing of the reversal of the
temporary differences and it is probable that they will not reverse in the foreseeable future; and
- taxable temporary differences arising on the initial recognition of goodwill.
Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which they can be used. The
existence of unused tax losses is strong evidence that future taxable profit may not be available. Therefore, in case of a history of recent losses, the
Company recognizes a deferred tax asset only to the extent that it has sufficient taxable temporary differences or there is convincing other evidence
that sufficient taxable profit will be available against which such deferred tax asset can be realized. Deferred tax assets — unrecognized or recognized,
are reviewed at each reporting date and are recognized/ reduced to the extent that it is probable/ no longer probable respectively that the related tax
benefit will be realised.
Deferred tax is measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on the laws
that have been enacted or substantively enacted by the reporting date.
The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting
date, to recover or settle the carrying amount of its assets and liabilities.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income
taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets
on a net basis or their tax assets and liabilities will be real.
Minimum Alternative Tax (‘MAT’) expense under the provisions of the Income-tax Act, 1961 is recognised as an asset when it is probable that future
economic benefit associated with it in the form of adjustment of future income tax liability, will flow to the Company and the asset can be measured
reliably. MAT credit entitlement is set off to the extent allowed in the year in which the Company becomes liable to pay income taxes at the enacted
tax rates. MAT credit entitlement is reviewed at each reporting date and is written down to reflect the amount that is reasonably certain to be set off
in future years against the future income tax liability. MAT Credit Entitlement is presented as part of deferred tax in the balance sheet.
m. Segment reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker.
In accordance with Ind AS 108 — Operating Segments, the operating segments used to present segment information are identified on the basis of internal
reports used by the Company’s Management to allocate resources to the segments and assess their performance.
The Board of Directors is collectively the Company’s ‘Chief Operating Decision Maker’ or ‘CODM’ within the meaning of Ind AS 108.
In addition to the significant accounting policies applicable to the segments as set out in note 2 of notes forming part of the financial statement, the
accounting policies in relation to segment accounting are as under :-
i) Segment assets and liabilities
All segment assets and liabilities have been allocated to the various segments on the basis of specific identification. Segment assets consist principally
of fixed assets, capital work in progress, inventories, trade receivables, other financial and non-financials assets and loans. Segment assets do not
include unallocated corporate assets, investments, advance tax and other assets not specifically identifiable with any segment.
Segment liabilities include all operating liabilities and consist principally of trade payables and accrued liabilities. Segment liabilities do not include
borrowings and those related to income taxes.
ii) Segment revenue and expenses
Segment revenue and expenses are directly attributable to the segment and have been allocated to various segments on the basis of specific
identification. Segment revenue does not include interest income and other income in respect of non-segmental activities. Segment expenses do not
include depreciation on unallocated corporate fixed assets, interest expense, tax expense and other expenses in respect of non-segmental activities.
iii) Inter segment sales
Inter-segment sales are accounted for at cost and are eliminated in consolidation.
n. Cash and cash equivalents
For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial
institutions, other short- term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts
of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current
liabilities in the balance sheet.
o. Earnings per share
Basic earnings per equity share is computed by dividing:
• the net profit attributable to equity shareholders of the Company
• by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during
the year and excluding treasury shares.
• Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:
• the after income tax effect of interest and other financing costs associated with dilutive potential equity shares, and
• the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity
shares.
p. Borrowing cost
Borrowing costs are interest and other costs (including exchange differences relating to foreign currency borrowings to the extent that they are regarded as
an adjustment to interest costs) incurred in connection with the borrowing of funds. Borrowing costs directly attributable to acquisition or construction
of an asset which necessarily take a substantial period of time to get ready for their intended use are capitalised as part of the cost of that asset. Other
borrowing costs are recognised as an expense in the period in which they are incurred.
q. Recent pronouncements
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 31 March 2025, MCA has notified Ind AS — 117 Insurance Contracts and amendments to Ind AS
116 — Leases, relating to sale and leaseback transactions. The Company has reviewed the new pronouncements and based on its evaluation has determined
that it does not have any significant impact in its financial statements.
r. Standards notified but not yet effected
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. MCA has notified amendments to Ind AS 21 — The Effects of Changes in Foreign Exchange Rates with effect from 1
April 2025.
Nature and purpose of reserve:
(a) Capital redemption reserve
Capital redemption reserve was created on account of buyback of shares as per the requirements of Companies Act, 1956.
(b) Securities premium
Securities premium account represent the recovery of premium on issue of shares. This amount is to be utilised in accordance with the provisions of
the Companies Act, 2013.
(c) Capital reserve
Capital reserve pertains to government grants received in earlier years for property, plant and equipment. The assets against the said grant have been
fully depreciated.
(d) Retained Earnings
Retained Earnings are the balance of profit/(loss) that the Company has earned till date, less, any transfer to general reserve, any transfer from or to
other comprehensive income, dividend or other distribution paid to shareholders.
34. Restructuring
After considering the effect of Scheme of Restructuring and Arrangement approved by the Delhi High Court vide its order dated October 29, 2003 under
section 391-394 of the Companies Act, 1956 (Act) and subsequent modification there to vide Delhi High Court order dated April 28, 2011 (hereinafter
Referred to as SORA), the Company had complied with the debt repayment obligations including in respect of debentures, deposits, loans and related interest
and where such amount has not been claimed by the concerned party, deposited an equivalent amount into a ‘No Lien /Designated Account’ with scheduled
banks. Aggregate of amount so deposited as at the year-end is Rs. 2.65 lakh (March 31, 2024: Rs. 2.65 lakh). In terms of SORA, the Company will not dispose
off it’s shareholding in Purearth Infrastructure Limited until the completion of the land development project at Bara Hindu Rao Kishan Ganj, Delhi.
35. The Company holds 1,71,21,608 (FY 2023-24 1,71,21,608) equity shares in Purearth Infrastructure Limited (PIL), a Joint Venture Company which constitute
16.56% holding of paid up equity share capital of PIL.
In previous year the shareholders of PIL in their Extra-Ordinary General Meeting held on 20.02.2024 approved the buy-back of upto 44,19,800 equity shares
equivalent to 4.10% of shareholding of PIL at Rs.59/- per equity share. The Company tendered its shareholding in PIL to the extent of 7,31,997 equity shares
as eligible under the said buy-back scheme and received Rs.431.88 lakh during the month of March, 2024 towards the consideration for tendering the said
7,31,997 shares of PIL.
36A The Company is in process of developing its 68.35 acres of land situated in the revenue state of Village Bir Hisar, Sector-23, Hisar, Haryana (Referred as Hisar
land). The Company has signed a joint development agreement in this regard on 11th August, 2022 with a party which is subject to fulfilment of certain terms
and conditions by the said party as well as receipt of regulatory approvals. In this connection, the Company has received a license no.179 of 2022 in joint
development with the said party on November 10, 2022 in respect of 67.275 acres of said Hisar land (Referred as Project land) under Regulation of Urban Area
Act, 1975 for setting up of affordable residential plotted colony under Deen Dayal Jan Awas Yojana-2016 (Referred as Project). Following the receipt of said
License, the Company has converted its said Project land from capital asset viz. property, plant and equipment, into stock in trade during the quarter ended
31st December 2022.
The Director General, Town and Country Planning, Haryana, however suspended the said licensee no.179 of 2022 in April-2023 taking a note that an enquiry
has been initiated against the Company by Deputy Commissioner in respect of the Company’s land at Hisar.
As per said order, the licensee is directed not to carry out any development work in the colony and also not to create another third party rights unless the said
suspension is revoked. The Company along with the Developer is putting in earnest efforts to take up the matter with the concerned authorities. However the
said matter of revocation of the license remains pending. The Company as well as the Developer are hopeful that the requested revocation of the suspension
order will be acceded to by the authorities and that the development work on the land shall start soon thereafter and both parties are making endeavors to have
this matter resolved at the earliest.
The matter remains pending as on date of approval of these audited financial statements.
36B. Pending revocation of suspension of license no.179 of 2022 by Director General, Town and Country Planning, Haryana , the advance of Rs. 5,000 lakh received
under the JDA has been shown under the current liabilities. Pursuant to above, the current liabilities of the Company including the said advance of Rs. 5,000
lakh under JDA, exceed the current assets by Rs. 3,922.70 lakh (FY 2023-24 4,039.90 lakh) as at March 31, 2025.
The management of the Company believes that with the revocation of said suspension order of license no.179 of 2022 and infusion of liquidity by focusing /
managing of its real estate operations and/or the Company’s plans of restructuring of its Engineering Business Undertaking as well as other interim measures to
improve liquidity, the Company will be able to continue its operations for the foreseeable future.
Accordingly, the financial statement of the Company have been prepared on a going concern basis.
37. Capital Advances of Rs. NIL (March 31, 2024: Rs.420.00 lakh) (net of refund of Rs.450.00 lakh) was paid in earlier year to acquire certain property under
construction at New Delhi. The construction was a matter of litigation between the builder and the local authorities. The Company has invoked the arbitration
clause of the agreement with the builder and file the arbitration petition. During the year, as per the order the Company had received back the said advance of
Rs. 420.00 lakh as well as interest from the builder in the said arbitration proceedings. Accordingly, the Company has recognized Rs. 417 lakh against the said
interest income in these accounts.
42. The Board of Directors of the Company in its meeting held on May 27, 2024, have decided not to sell and continue to hold its land/building located in
Kodukanthangal Village and Serkadu Village, Katpadi Sub-Registration District, Vellore Registration District, Vellore District, Tamil Nadu and land and
building located in Rail Mazra Village, Tehsil Balachaur, Distt Shaheed Bhagat Singh Nagar, Punjab as the requirements for which it was decided to sell the said
pieces of land had already been met out of alternate source of funds. Accordingly the said pieces of land/building have been regrouped from asset held for sale
to viz. property, plant and equipment as on March 31, 2024.
43. Operating segments
A. Basis for segmentation
An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, including
revenues and expenses that relate to transactions with any of the Company’s other components, and for which discrete financial information is available.
All operating segment’s operating results are reviewed regularly by the Chief operating decision maker (CODM) to make decisions about resources to be
allocated to the segments and assess their performance.
In accordance with Ind AS 108 ‘Segment Reporting’ as specified in section 133 of the Companies act, 2013 read with Rule 7 of the Companies (Accounts)
Rule, 2014, the Company has identified two reportable segments, as described below, which are the Company’s strategic business units. These business
units offer different products and services, and are managed separately because they require different technology and marketing strategies. For each of the
business units, the Chief operating decision maker (CODM) reviews internal management reports on a periodic basis.
The following summary describes the operations in each of the Company’s reportable segments:
Reportable segments Operations
Real estate Development at the Company’s real estate site at Bara Hindu Rao / Kishan Ganj, Delhi and at Hisar, Haryana
Grey iron casting Grey iron casting manufacturing
B. Information about operating segments
Information regarding the results of each reportable segment is included below. Performance is measured based on segment profit (before tax), as included
in the internal management reports that are reviewed by the Board of Directors of the company. Segment profit is used to measure performance as
management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within
these industries. Inter-segment pricing is determined on an arm’s length basis.
• The carrying amounts of trade receivables, trade payables, cash and cash equivalents, bank balances other than cash and cash equivalents and
other financial assets and liabilities, approximates the fair values, due to their short-term nature. The loans, other non-current financial assets
and bank deposits (due for maturity after twelve months from the reporting date), and other non-current financial liabilities, the carrying value
of which approximates the fair values as on the reporting date.
b. Financial risk management
The Company has exposure to the following risks arising from financial instruments:
• Credit risk ;
• Liquidity risk ; and
• Market risk
Risk management framework
The Company’s board of directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. The
board of directors have authorized senior management to establish the processes, who ensures that executive management controls risks through the
mechanism of properly defined framework.
The Company has in place Risk Management Process for identifying / managing risks. The Company’s Risk Management Framework helps in
identifying risks and opportunities that may have a bearing on the organization’s objectives, assessing them in terms of likelihood and magnitude
of impact and determining a response strategy. The risk management process consists of risk identification, risk assessment, risk monitoring & risk
mitigation.
(i) Credit risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual
obligations, and arises principally from the Company’s receivables from customers.
The maximum exposure to the credit risk at the reporting date is primarily from trade receivables. Trade receivables are generally unsecured and
are derived from revenue earned from customers primarily located in India. The Company continuously monitors the economic environment
in which it operates. The Company manages its Credit risk through credit approvals, establishing credit limits and continuously monitoring
credit worthiness of customers to which the Company grants credit terms in the normal course of business.
During the period of operation of engineering business before lockout dated October 22, 2019. The average credit period on sales of goods
and services (other than moulds) within India is 30 to 60 days, sale of moulds is 180 days and sales of goods and services outside India is 30
to 90 days. Majority of trade receivables are from customers, which are fragmented and are not concentrated to individual customers. Trade
receivables are generally realised within the credit period.
(ii) Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that
are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that
it will have sufficient liquidity to meet its liabilities when they are fallen due, under both normal and stressed conditions, without incurring
unacceptable losses or risking damage to the Company’s reputation.
The Company’s liquidity management process as monitored by management, includes the following:
- Day to day funding, managed by monitoring future cash flows to ensure that requirements can be met.
- Maintaining rolling forecasts of the Company’s liquidity position on the basis of expected cash flows.
Note: The contractual maturity of financial liabilities includes the interest accrued as on the reporting date.
* It includes Rs. 5,000/- lakh received by the Company under joint development agreement dated 11th August, 2022. (Refer Note 36).
ii. Market risk
Market risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk
comprises two types of risk: currency risk and interest rate risk. The objective of market risk management is to manage and control market risk
exposures within acceptable parameters, while optimising the return.
Currency risk
Currency risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates.
The Company is exposed to the effects of fluctuation in the prevailing foreign currency exchange rates on its financial position and cash
flows. Exposure arises primarily due to exchange rate fluctuations between the functional currency and other currencies from the Company’s
operating, investing and financing activities.
Company is not dealing in foreign currency then not exposure to foreign currency.
Interest rate risk
Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair
values of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that the future
cash flows of floating interest bearing investments will fluctuate because of fluctuations in the interest rates.
The Company’s investment in fixed deposits are all at fixed rate and are carried at amortised cost. They are therefore not subject to interest rate
risk as defined in Ind AS 107, since neither the carrying amount nor the future cash flows will fluctuate because of a change in market interest
rates. Further, there are no borrowing outstanding as on the balance sheet date, which has interest rate risk.
45. Capital management
For the purpose of the Company’s capital management, capital includes issued equity share capital, securities premium and all other equity reserves attributable
to the equity holders of the Company. The primary objective of the management of the Company’s capital structure is to maintain an efficient mix of debt and
equity in order to achieve a low cost of capital, while taking into account the desirability of retaining financial flexibility to pursue business opportunities and
adequate access to liquidity to mitigate the effect of unforeseen events on cash flows.
The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust the capital structure,
the Company may return capital to shareholders, raise new debt or issue new shares.
The Company monitors capital on the basis of the debt to capital ratio, which is calculated as interest-bearing debts adjusted with available cash and bank
balances divided by total capital (equity attributable to owners of the Company). Since the Company does not have borrowing as on 31.03.2025 as well as
31.03.2024, the working of adjustable net debts to the total equity is not required to be given.
46. In view of the continued situation of industrial unrest at Engineering Business Undertaking (Refer as Engineering Division) of the Company, situated at Village
Asron, District Shaheed Bhagat Singh Nagar (Punjab), the management of the Engineering Division had recommended declaration of lockout. The Board of
Directors of the Company in their meeting held on October 21, 2019 had accordingly approved the declaration of lockout at the Engineering Division w.e.f.
October 22, 2019.
The lockout was opposed by the workmen of said Engineering Division before the Labour Authorities and presently the matter remains sub-judice before the
labour authorities. Based on the legal advice received by the Company, the management is of the view that the present lockout is legal and justified. Therefore,
the Company has not made any provision for wages pertaining to the lockout period i.e., October 22, 2019 to March 31, 2025 of the workmen dues aggregating
to Rs. 7439 lakh (FY 2023-24 Rs.6776 lakh).
The Company is evaluating and pursuing various options concerning its Engineering business/ operations. As and when anything is finalized, it shall seek
requisite approvals from the Board and other stakeholders and make requisite intimations as required under applicable laws. In the interim, the Company is
continuing with its endeavors to upkeep the factory and to rationalize the workmen force.
47. The Company is listed on stock exchange in India, the Company has prepared standalone financial statements as required under Ind As 110, Section 129 of
Companies Act 2013 and listing requirements. The standalone financial statement is available on Company’s website for public use.
48. Corporate Social Responsibility
The Company has incurred losses during the immediately preceding financial year, therefore, there is no liability towards the corporate social responsibility
for the current year as per the provision relating to corporate social responsibility under section 135 of the Companies Act, 2013. However, the Company has
incurred the expenditure of Rs. 7.13 lakh to support the CSR program designed by Karm Trust under the project ‘KARM Fellowship’ which aims to enable
young women from underserved backgrounds to pursue their educational and professional dreams, as well as to empower women of all ages voluntarily as part
of community service. The said expenditure is done voluntarily as part of community service.
(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
> 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
(iii) Compliance with number of layers of companies:
The Company has complied with the number of layers prescribed under the Companies Act, 2013.
(iv) Undisclosed income:
There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that
has not been recorded in the books of account.
(v) Details of crypto currency or virtual currency:
The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.
(vi) Valuation of PP&E, intangible asset and investment property:
The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous
year.
(vii) The company has not granted any loans or advances in the nature of loans either repayable on demand.
(viii) The company does not have any charges, the satisfaction of which is yet to be registered with ROC beyond the statutory period.
(ix) The company has not provided any loan or advances to specified persons during the year.
51. Events occurring after the Balance Sheet Date -
No adjusting of significant non- adjusting events have occurred between the reporting date and date of authorization of these standalone financial statements.
52. The Ministry of Corporate Affairs (MCA) has prescribed a new requirement for companies under the proviso to Rule 3(1) of the Companies (Accounts)
Rules, 2014 inserted by the Companies (Accounts) Amendment Rules 2021 requiring companies, which uses accounting software for maintaining its books of
accounts, shall use only such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change
made in the books of accounts along with the date when such changes were made and ensuring that the audit trail cannot be disabled.
The Company has used an accounting software i.e. Tally Prime for maintaining its books of accounts for the financial year ended March 31, 2025 which have a
feature of recording audit trail (edit log) facility except audit trail functionality at the database level due to inherent limitations of the software and the same has
operated throughout the year for all relevant transactions recorded in the accounting software systems. There is no instance of audit trail feature being tampered
with and the audit trail has been preserved by the Company as per the statutory requirements for record retention.
53. Previous year figures have been regrouped / reclassified wherever necessary to correspond with the current year’s classification/disclosure.
As per our report of even date.
For S S Kothari Mehta & Co. LLP For and on behalf of the Board of Directors of DCM Limited
Chartered Accountants
Firm Registration No.: 000756N/ N500441
Deepak Kumar Gupta Jitendra Tuli Vinay Sharma Dr. Kavita A Sharma
Partner Chairman Managing Director Director
Membership No.: 411678 DIN: 00272930 DIN: 08977564 DIN: 07080946
Ashwani Singhal Arjit Gupta
Place : New Delhi Chief Financial Officer Company Secretary
Date : May 27, 2025 Membership No.: 071486 Membership No.: A30696
Place : New Delhi
Date : May 27, 2025
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