15. Provisions, Contingent Liabilities and
Contingent Assets (Ind AS 37)
Provisions are recognized when the Company has a present
obligation (legal or constructive), as a result of a past event,
and it is probable that an outflow of resources will be required
to settle the obligation. Contingent liabilities are disclosed
unless the possibility of an outflow is remote. Contingent assets
are not recognized.
The Company is contingently liable towards Bank Guarantee
provided to the tune of ? 34.00 lacs in favour of Executive
Engineer Electricity Div. Rania Kanpur Dehat and H.P.S.E.B. and
contingently liable towards Letter of Credit provided to the
tune of ? 326.71 lacs in favour of M/s Bhushan Power & Steel
Ltd. And Evonith Value Steel Ltd. Margin money ? 264.64 lacs
deposit with S.B.I. against Letter of Credit & Bank Guarantee
(Prev. Yr. Bank guarantee of ? 12.64 lacs in favour of Indian
Railways and H.P.S.E.B. and Letter of credit of ? 1,789.94 lacs
in favour of M/s SunFlag Iron & Steel Co. Ltd., M/s Deepa Sales,
Bhushan Power & Steels Ltd. & M/s Contitech India Pvt. Ltd and
Margin money ? 246.02 lacs deposit with S.B.I.).
16. Earnings Per Share (Ind AS 33)
Basic earnings per share are calculated by dividing net profit
attributable to equity holders by the weighted average
number of equity shares outstanding during the period. Diluted
earnings per share is calculated by adjusting the weighted
average number of equity shares outstanding for the effects
of all dilutive potential equity shares.
17. Cash Flow Statement (Ind AS 7)
Cash flows are reported using the indirect method. Cash and
cash equivalents in the balance sheet comprise cash at banks
and on hand and short-term deposits with original maturity of
three months or less. As annexed
Cash and cash Equivalents
Cash and cash equivalents comprise cash and cash on deposit
with banks and corporations. The Company considers all
highly liquid investments with a remaining maturity at the
date of purchase of three months or less and that are readily
convertible to known amounts of cash to be cash equivalents
18. Financial Derivatives and Commodity
Hedging Transactions
In respect of derivative contracts, premium paid, gains/losses
on settlement and losses on restatement, if any are recognized
in Balance Sheet, except in case where they relate to the
acquisition or construction of fixed assets, in which case, they
are adjusted to the carrying cost of such assets.
19. Accounting for Oil and Gas Activity
The Company has adopted Full Cost Method of accounting
for consumption of Furnace oil, Diesel and Gas as well as the
expenditure is accounted on the basis of available information.
Part (c)Terms/Rights attached
i. Equity Shares
The Company has only one class of Equity shares having a par value of ? 10/-. Each holder of equity shares is entitled to one
vote per share.
The Company declares dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of
the shareholders in the ensuing Annual General Meeting.
During the Year Ended 31st March 2026 the amount of per share dividend recognized as distributions to equity shareholders was
? 0.70 (For 31st March 2025 was ? 1.80 per equity share.)
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the
company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by
the shareholders.
29.1 Additional Regulatory Information
(i) Title deeds of immovable property not held in the name of the company
There is no any Title deeds of immovable property not held in the name of the company.
(ii) There is no any revaluation of its Property, Plant and Equipments.
(iii) There is no any Loans or Advances in the nature of loans are granted to promoters, directors, KMPs and the related parties (as
defined under Companies Act, 2013,) either severally or jointly with any other person, that are:
(vi) Details of Benami Property held
There is no any Benami Property held in the name of the Company.
(vii) Wilful Defaulter*
The Company has never been declared as wilful default by any Bank or financial Institution.
(viii) Compliance with approved Scheme(s) of Arrangements
No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013.
(ix) Undisclosed income
There is no undisclosed income which is not recorded.
(x) Crypto Currency or Virtual Currency
The Company has not dealt with Crypto Currency or
Virtual Currency.
(xi) Utilisation of Borrowed funds and share premium:
(A) Where company has 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 No.
(ii) provide any guarantee, security or the like to
or on behalf of the Ultimate Beneficiaries; The
company shall disclose the following:
(I) date and amount of fund advanced or
loaned or invested in Intermediaries with
complete details of each Intermediary.
(II) date and amount of fund further
advanced or loaned or invested by such
Intermediaries to other intermediaries
or Ultimate Beneficiaries along with
complete details of the ultimate
beneficiaries.
(III) date and amount of guarantee, security
or the like provided to or on behalf of the
Ultimate Beneficiaries.
(IV) declaration that relevant provisions of
the Foreign Exchange Management Act,
1999 (42 of 1999) and Companies
Act has been complied with for such
transactions and the transactions are
not violative of the Prevention of Money¬
Laundering act, 2002 (15 of 2003).
(B) Where a company has 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 disclose the following:
(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, the
company shall disclose the following:
(I) date and amount of fund received from
Funding parties with complete details of
each Funding party.
(II) date and amount of fund further
advanced or loaned or invested other
intermediaries or Ultimate Beneficiaries
along with complete details of the other
intermediaries' or ultimate beneficiaries.
(III) date and amount of guarantee, security
or the like provided to or on behalf of the
Ultimate Beneficiaries.
(IV) declaration that relevant provisions of
the Foreign Exchange Management Act,
1999 (42 of 1999) and Companies
Act has been complied with for such
transactions and the transactions are
not violative of the Prevention of Money¬
Laundering act, 2002 (15 of 2003).
(xiii) Registration of charges or satisfaction with Registrar
of Companies
Where any charges or satisfaction yet to be registered
with Registrar of Companies beyond the statutory period,
details and reasons thereof shall be disclosed.
(ivx) Relationship with Struck off Companies
Where the company has any transactions with companies
struck off under section 248 of the Companies Act, 2013
or section 560 of Companies Act, 1956, the Company
shall disclose the details.
(xv) Compliance with number of layers of companies
Where the company has not complied with the number
of layers prescribed under clause (87) of section
2 of the Act read with Companies (Restriction on
number of Layers) Rules, 2017, the name and CIN of
the companies beyond the specified layers and the
relationship/extent of holding of the company in such
downstream companies shall be disclosed.
(xvi) Loans or Advances in the nature of loans are granted
to promoters, directors, KMPs and the related parties
either severally or jointly with any other person, that are
repayable on demand or without specifying any terms or
period of repayment.
(xvii) Where the Company has borrowings from banks or
financial institutions on the basis of security of current
assets, it shall disclose the following:
(a) whether quarterly returns or statements of current
assets filed by the Company with banks or financial
institutions are in agreement with the books of
accounts.
(b) if not, summary of reconciliation and reasons of
material discrepancies, if any to be adequately
disclosed.
29(4). Amount of capital commitments:
Advance for Capital items of ? 188.94 lacs for Plant & machinery and construction work for office are shown in Note No. 9
under the head of Current Loans and Advances the total order value for plant & machinery is ? 792.32 lacs and order value for
construction work for office is ? 16.00 lacs.
29(5). Contingent liabilities:
The Company is contingently liable towards Bank Guarantee provided to the tune of ? 34.00 lacs in favour of Executive Engineer
Electricity Div. Rania Kanpur Dehat and H.P.S.E.B. and contingently liable towards Letter of Credit provided to the tune of ? 326.71
lacs in favour of M/s Bhushan Power & Steel Ltd. And Evonith Value Steel Ltd. Margin money ? 264.64 lacs deposit with S.B.I.
against Letter of Credit & Bank Guarantee (Prev. Yr. Bank guarantee of ? 12.64 lacs in favour of Indian Railways and H.P.S.E.B. and
Letter of credit of ? 1,789.94 lacs in favour of M/s SunFlag Iron & Steel Co. Ltd., M/s Deepa Sales, Bhushan Power & Steels Ltd. &
M/s Contitech India Pvt. Ltd and Margin money ? 246.02 lacs deposit with S.B.I.).
Notes:
(i) The quantitative details stated above are based on the certification given by the management.
(ii) The installed capacity is not being verified by us as a technical matter and it is taken as certified by management.
(iii) The quantities have been shown to the nearest units.
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