k) Provisions
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.
The expense relating to any provision is presented in the statement of profit or loss, net of any
reimbursement. If the effect of the time value of money is material, provisions are discounted using a
current pre-tax rate that reflects, where appropriate, the risks specific to the liability. Where discounting
is used, the increase in the provision due to the passage of time is recognised as part of finance costs.
l) Contingent Liability
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 beyond the
control of the Company or a present obligation that is not recognized because it is not probable that an
outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely
rare cases where there is a liability that cannot be recognized because it cannot be measured reliably.
The Company does not recognize a contingent liability but discloses its existence in the financial
statements.
m) Cash and Cash Equivalents
Cash and Cash Equivalent in the balance sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to an insignificant risk of
changes in value.
For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short
term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral
part of the Company’s cash management.
n) Investments and other Financial Assets
(i) Classification
The Company classifies its financial assets in the following measurement categories:
(1) Those to be measured subsequently at fair value (either through other comprehensive income,
or through the Statement of Profit and Loss), and
(2) Those measured at amortised cost.
The classification depends on the Company’s business model for managing the financial
assets and the contractual terms of the cash flows.
(ii) Measurement
At initial recognition, the Company measures a financial asset at its fair value. Transaction costs
of financial assets carried at fair value through the Profit and Loss are expensed in the Statement
of Profit and Loss.
Debt Instruments: Subsequent measurement of debt instruments depends on the Company's
business model for managing the asset and the cash flow characteristics of the asset. The Company
classifies its debt instruments into following categories:
Amortised Cost: Assets that are held for collection of contractual cash flows where those cash
flows represent solely payments of principal and interest are measured at amortised cost. Interest
income from these financial assets is included in other income using the effective interest rate
method.
Fair value through Profit and Loss: Assets that do not meet the criteria for amortised cost are
measured at fair value through Profit and Loss. Interest income from these financial assets is
included in other income.
Equity Instruments: The Company measures its equity investment other than in subsidiaries,
joint ventures and associates at fair value through profit and loss.
(iii) Impairment of Financial Assets
The Company measures the expected credit loss associated with its assets based on historical
trend, industry practices and the business environment in which the entity operates or any other
appropriate basis. The impairment methodology applied depends on whether there has been a
significant increase in credit risk.
o) Earnings Per Share
Basic Earnings Per Share
Basic Earnings Per Share is calculated by dividing:
- The profit attributable to owners 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 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.
(iv) Utilization of Borrowed Funds and Share Premium
(A) 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(s) or entity(ies), including
foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise)
that the Intermediary shall:
(i) 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
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(B) 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:-
(i) 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
(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(v) Undisclosed Income
The Company has disclosed all its Income appropriately and in the ongoing Tax Assessments as well
there has not been any such undisclosed income recognised by the relavant tax authorities.
(vi) Details of Crypto Currency or Virtual Currency
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(vii) Disclosure of Benami Property
The Company does not possess any benami property under the Benami Transactions (Prohibition)
Act, 1985 and rules made thereunder.
(viii) Disclosure of Borrowings
The Company does not have any borrowings from banks and financial institutions during the year and
as at March 31,2024.
(ix) Wilful Defaulter
The Company has not been declared as Wilful Defaulter by any Bank or Financial Institution or other Lender.
(x) Title Deeds of Immovable Properties not held in Name of the Company
Title deeds of immovable properties (including properties where the Company is the lessee and the
lease agreements are duly executed in favour of the lessee) are not held in the name of the company.
(xi) Revaluation of Property, Plant and Equipment
No Property, Plant and Equipment is revalued by company during the year.
(xii) Revaluation of Intangible Asset
No Intangible asset is revalued by company during the year.
(xiii) Investment in property
No investment property is held by the company as at Balance sheet date.
(xiv) Disclosure on Loans and Advances
The Company has not granted any loans or advances in the nature of loans either repayable on demand
or without specifying any terms or period of repayment, to promoters, directors, KMPs and the related
parties (as defined under the Companies Act, 2013), either severally or jointly with any other person.
27. Capital Risk Management:
The Company aim to manages its capital efficiently so as to safeguard its ability to continue as a going
concern and to optimise returns to our shareholders.
The capital structure of the Company is based on management’s judgement of the appropriate balance of
key elements in order to meet its strategic and day-to-day needs. We consider the amount of capital in
proportion to risk and manage the capital structure in light of changes in economic conditions and the risk
characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may
adjust the amount of dividends paid to shareholders, return capital to shareholders or issue new shares.
The Company’s policy is to maintain a stable and strong capital structure with a focus on total equity so as to
maintain investor, creditors and market confidence and to sustain future development and growth of its business.
The Company will take appropriate steps in order to maintain, or if necessary adjust, its capital structure.
28. Contingent Liabilities: Rs. 7,58,42,320/- (Previous Year Rs. 7,58,42,320/-)
29. Financial risk management objectives and policies
The Company’s principal financial liabilities comprise trade and other payables. The main purpose of
these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets
include loans, trade and other receivables, and cash and cash equivalents that derive directly from its
operations.
The Company’s activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk.
The Company’s focus is to foresee the unpredictability of financial markets and seek to minimize potential
adverse effects on its financial performance.
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 three types of risk: interest rate risk, currency risk and
other price risk, such as equity price risk and commodity risk.
Credit Risk
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 and deposits to landlords) and from its financing activities. The Company
generally doesn’t have collateral.
Trade Receivables and Security Deposits
Customer credit risk is managed by business through the Company’s established policy, procedures and
control relating to customer credit risk management. Credit quality of each customer is assessed and
credit limits are defined in accordance with this assessment. Outstanding customer receivables and security
deposits are regularly monitored.
Liquidity Risk
The company’s principal source of liquidity is cash and cash equivalents and the cash flow that is generated
from operations. The company has no outstanding bank borrowings. Accordingly, no liquidity risk is perceived
30. Certain Balances of parties under sundry debtors, creditors, loans and advances are subject to confirmations/
reconciliation.
31. There was no expenditure/earning in Foreign Currency during the year.
For BHATTER & ASSOCIATES FOR FILMCITY MEDIA LIMITED
Chartered Accountants
Firm Registration No.131411W
ROHIT KUMAR TAWARI SURENDRA R GUPTA MOHIT JAIN
Partner Managing Director Director/CFO
Membership No.: 197557 DIN: 00778018 DIN: 09684465
Place: Mumbai KIRTI VISHNU TIWARI RAKSHA KUMARI
Date: 14-05-2024 Director/CEO Company Secretary
DIN: 09686224 M.No.: A46084
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