i) Provision, Contingent Liabilities and Contingent Assets
Provisions are recognised for when the Company has at present, legal or contractual obligation as a result of past events, only if it is probable that an outflow
of resources embodying economic outgo or loss will be required and if the amount involved can be measured reliably. If the effect of the time value of money
is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used,
the increase in the provision due to the passage of time is recognised as a finance cost. The Company recognises provision for asset retirement obligation in
accordance with the mining services contract. Contingent liabilities being a possible obligation as a result of past events, the existence of which will be
confirmed only by the occurrence or non occurrence of one or more future events not wholly in control of the Company are not recognised in the accounts.
The nature of such liabilities and an estimate of its financial effect are disclosed in notes to the financial statements. Contingent assets are not recognised in
the financial statements. The nature of such assets and an estimate of its financial effect are disclosed in notes to the financial statements.
j) Revenue Recognition
Revenue from contract with customer is recognised upon transfer of control of promised products or services to customers on complete satisfaction of
performance obligations for an amount that reflects the consideration which the Company expects to receive in exchange for those products or services.
Revenue is measured based on the transaction price, which is the consideration, adjusted for discounts and other incentives, if any, as per contracts with the
customers. Revenue also excludes taxes or amounts collected from customers in its capacity as agent. The specific recognition criteria from various stream of
revenue is described below:
(i) Sale of Goods
Revenue from sale of goods is recognised when the Company transfers control of the goods, generally on delivery, or when the goods have been dispatched
to the customer's specified location as per the terms of contract, provided the company has not retained any significant risk of ownership or future obligation
with respect to the goods dispatched.
(ii) Interest Income
Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly
discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition,
k) Employee Benefits
Employee benefits includes gratuity, compensated absences, contribution to provident fund, employees' state insurance and superannuation fund.
i) Short Term Employee Benefits
Employee benefits payable wholly within twelve months of rendering the services are classified as short term employee benefits and recognised in the period in
which the employee renders the related service. These are recognised at the undiscounted amount of the benefits expected to be paid in exchange for that
service.
ii) Post Employment Benefits
Defined Contribution Plans
Retirement benefits in the form of provident fund and superannuation fund are defined contribution schemes. The Company has no obligation, other than the
contribution payable to the provident fund. The Company recognises contribution payable to the these funds as an expense, when an employee renders the
related service. If the contribution payable to the scheme for service received before the balance sheet date exceeds the contribution already paid, the deficit
payable to the scheme is recognised as a liability after deducting the contribution already paid.
Defined Benefit Plans
The Company operates a defined benefit gratuity plan in India, in which contributions are maintained to a separately administered fund. The cost of providing
benefits under the defined benefit plan is determined based on actuarial valuation, carried out by an independent actuary, using the projected unit credit
method. The liability for gratuity is funded annually to a gratuity funds maintained with the Life Insurance Corporation of India and SBI Life Insurance
Company Limited. Re-measurements gains and losses arising from experience adjustments, changes in actuarial assumptions and the return on plan assets
(excluding net interest) are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive
income in the period in which they occur. Re-measurements are not reclassified to profit or loss in subsequent periods. Net interest is calculated by applying
the discount rate to the net balance of defined benefit liability or asset. The Company recognises the following changes in the net defined benefit obligation
as an expense in the statement of profit and loss in the line item "Employee Benefits Expense":
? Service cost including current service cost, past service cost, gains and losses on curtailments and non-routine settlements; and
? Net interest expense or income.
iii) Other Employee Benefits
Other employee benefits comprise of compensated absences / leaves. The actuarial valuation is done as per projected unit credit method. Remeasurements as
a result of experience adjustments and changes in actuarial assumptions are recognised in the Statement of Profit and Loss.
iv) For the purpose of presentation of defined benefit plans and other long term benefits, the allocation between current and non-current provisions has been made
as determined by an actuary.
l. Earnings Per Share
Basic EPS is computed by dividing the profit or loss attributable to the owners of the Company by the weighted average number of equity shares outstanding
during the year. Diluted EPS is computed by dividing the profit or loss attributable to the owners of the Company (after adjusting for costs associated with
dilutive potential equity shares) by the weighted average number of equity shares and dilutive potential equity shares outstanding during the year.
m. Expenditure
Expenses are net of taxes recoverable, where applicable.
n. Related Party Disclosure: As per Annexure - 1
o. Auditor’s Remuneration: (Rs. In Lacs)
As certified by the company that it was received written representation from all the directors, that companies in which they are directors had not defaulted in terms
of section 164(2) of the companies Act, 2013, and the representation from directors taken in Board that Director is disqualified from being appointed as Director of
the company.
For and on behalf of the board of directors As per our attached report of even date
For, Goldcoin Health Foods Limited For, V S S B & Associates
Chartered Accountants
Firm No. 121356W
Devang Shah Pravinaben D Gohil (Vishves A Shah)
Managing Director Director (Partner)
& CEO (DIN: 09279658) MNo:-109944
(DIN: 00633868) UDIN: 25109944BMGPKE9965
Niraj Baid Date:08/05/2025
Company Secretary Place: Ahmedabad
(C.P. No. 27927)
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