A. Defined Contribution
For the company an amount of 1.47lakh (31st March, 2025:0.18 lakh) contributed to
provident funds, ESIC and other funds is recognised by as an expense and included in
"Contribution to Provident & Other Funds" under "Employee benefits expense" in the
Consolidated Statement of Profit and Loss
B. Defined Benefits
The following table's summaries 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
Note 25: Previous year's figures
Previous year's figures have been regrouped / reclassified wherever necessary to
correspond with the current year's classification / disclosure.
Note 26: Disclosures required under Section 22 of the Micro, Small and Medium
Enterprises Development Act, 2006
The company has no information as to whether any of its suppliers have been registered
under the 'The Micro, Small and Medium Enterprises Development Act, 2006' and therefor
the amount due to such suppliers has not been identified.
Note 27: Segment Reporting
Operating segments are reported in a manner consistent with the internal reporting provided
to the Chief Operating Decision Maker ("CODM”) of the Company. The CODM, who is
responsible for allocating resources and assessing performance of the operating segments,
has been identified as the Managing Director of the Company. The Company operates only
in one Business Segment i.e. offshore business and the activities incidental thereto within
India, hence does not have any reportable Segments as per Indian Accounting Standard 108
"Operating Segments”.
Note 28: Leases
Rental Charges of Rs. 7.07 Lakhs pertains to either short term lease or low value assets
and hence not considered for Right-of-Use assets.
Note 30: Fair Value Hierarchy and Measurements
The management assessed that cash and cash equivalents, trade receivables, trade payable,
short term borrowings, bank overdrafts
and other current liabilities approximate their carrying amounts largely due to the short-term
maturities of these instruments and are thus measured at amortised cost
Note 31 - Capital Management and Financial Risk Management Strategies
Capital Management
The Company being in a capital-intensive industry, its objective is to maintain a strong credit
rating healthy and establish a capital structure that would maximise the return to stakeholders
through optimum mix of debt and equity
The Company’s capital requirement is mainly to fund its capacity expansion, repayment of
principal and interest on its borrowings and strategic acquisitions. The principal source of
funding of the Company has been, and is expected to continue to be, cash generated from its
operations supplemented by funding from bank borrowings and the capital markets. The
Company is not subject to any externally imposed capital requirements.
The Company regularly considers other financing and refinancing opportunities to diversify its
debt profile, reduce interest cost and align maturity profile of its debt commensurate with life of
the asset and closely monitors its judicious allocation amongst competing capital expansion
projects and strategic acquisitions, to capture market opportunities at minimum risk.
Financial Risk Management
The Company’s business activities expose it to a variety of financial risks, namely liquidity risk,
market risks and credit risk. The Company’s senior management has the overall responsibility
for the establishment and oversight of the Company’s risk management framework.
i) Price Risk
Price is negotiated in advance with the customers for a considerable time span, to provide
marine support as per their requirements. The rate is fixed for per operational day and can
fluctuate because of breakdowns.
ii) (a)Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. The Company’s exposure to the risk of
changes in market interest rates relates primarily to the Company’s long-term debt obligations
with floating interest rates. The risk is managed by the Company by maintaining an appropriate
mix between fixed and floating rate borrowings.
(b) Interest Rate Sensitivity
The sensitivity analyses below have been determined based on the exposure to interest rates
for non-derivative instruments at the end of the reporting period. For floating rate liabilities, the
analysis is prepared assuming the amount of the liability outstanding at the end of the reporting
period was outstanding for the whole year. A 50-basis point increase or decrease is used when
reporting interest rate risk internally to key management personnel and represents
management’s assessment of the reasonably possible change in interest rates.
The following table provides a break-up of the Company’s fixed and floating rate borrowings
iii) Credit Risk
Credit risk refers to the risk that a counterparty will default on its contractual obligations
resulting in financial loss to the Company. The Company has adopted a policy of only dealing
with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a
means of mitigating the risk of financial loss from defaults. The Company’s exposure and the
credit ratings of its counterparties are continuously monitored.
iv) Liquidity Risk
Ultimate responsibility for liquidity risk management rests with the board of directors, which has
established an appropriate liquidity risk management framework for the management of the
Company’s short-term, medium-term and long-term funding and liquidity management
requirements. The Company manages liquidity risk by maintaining adequate reserves, banking
facilities and reserve borrowing facilities, by continuously monitoring forecast and actual cash
flows, and by matching the maturity profiles of financial assets and liabilities.
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