J. Provisions and Contingencies:
The company creates a provision when there is present obligation as a result of a past event
that probably requires an outflow of resources and a reliable estimate can be made of the
amount of obligation. A disclosure for a contingent liability is made when there is a possible
obligation or a present obligation that probably will not require an outflow of resources or
where a reliable estimate of the obligation cannot be made.
K. Employee Benefits:
The company has not provided for Gratuity and Leave encashment benefits till 31.03.2025.
The retirement benefits will be debited as and when paid.
L. Foreign Exchange Transactions: -
a) Transactions in Foreign Currency are accounted at the exchange rate prevailing on the
date of Transactions. Exchange fluctuations between the transaction date and the settlement
date in respect of Revenue Transactions are recognized in Profit & Loss Account.
b) All export proceeds not realized at the year-end are restated at the rate prevailing at the
year end. The exchange difference arising there from has been recognized as income /
expenses in the Current Year's Profit & Loss A/ c along with underlying transaction.
c) The premium or discount arising at the inception of forward exchange contract is
amortised as expense or income over the life of the contract. Exchange differences on such
contracts are recognised in the statement of profit and loss in the year in which the exchange
rates change. Any profit or loss arising on cancellation or renewal of forward exchange
contracts is recognised as income or as expense for the year. None of the forward exchange
contracts are taken for trading or speculation purpose.
M. Borrowing Costs: -
Borrowing Costs that are attributable to the acquisition or construction of qualifying assets
are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily
takes a substantial period of time to get ready for its intended use or sale. All other
borrowing costs are charged to revenue.
N. Cash flow statement
Cash flows are reported using the indirect method, whereby profit for the period is adjusted
for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments and item of income or expenses associated with
investing or financing cash flows. The cash flows from operating, investing and financing
activities of the Company are segregated. The company considers all highly liquid
investments that are readily convertible to known amounts of cash to be cash equivalents.
10.2 Terms/Rights attached to equity shares:
The company has only one class of equity share having a par value of Rs. 10 per share. Each holder of equity shares
is entitled to one vote per share.
During the year ended 31st March 2026, the amount of per share dividend recognized as distributions to equity
shareholders was Rs. Nil (31st March 2025 Rs. Nil)
*As required by section 45-IC of the RBI Act 1934, the Company has to maintain a reserve fund and transfers there in a sum
not less than twenty percent of its net profit after tax every year before any dividend is declared. The Company cannot
appropriate any sum from the reserve fund except for the purpose specified by Reserve Bank of India from time to time. Till
date, RBI has not specified any purpose for the appropriation of Reserve fund maintained under section 45-IC of RBI Act, 1934.
Since no reserves has been created in the previous year, hence reserves to the extent of twenty percent for the previous years
have been created out of the opening retained earnings also.
16. Segment Reporting
Segment Reporting as defined in Accounting Standards 17 are not applicable as the company
is primarily engaged in Finance Activity.
17. Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure"
issued by the Institute of Chartered Accountants of India.
I. List of Related Parties:
a) Associate companies where Directors or Relatives of Director are Directors.
i. Mangalam Exim Private Limited.
ii. Shree Kumar Mangalam Traders Private Limited.
iii. Harivasta Education Private Limited.
iv. Nalini Stockbrokers Private Limited.
v. Rastogi Textiles Private Limited.
vi. Aditri Neuroscience Private Limited
b) Key Management Personnel
i. Santkumar Kesardeo Bagrodia - Managing Director.
ii. Shailja Santkumar Bagrodia - Director.
iii. Machhindranath Patil - Independent Director.
iv. Suvarna Shinde - Independent Director.
v. Swara Khande - CFO
vi. Mahesh Purohit - Company Secretary
III. Particulars of Outstanding Balance at the end of the year with Related Parties
Outstanding balance at the end of the year Rs. Nil (P. Y. Nil) of any related Party.
18. Financial Instruments :-
This section gives an overview of the significance of financial instruments for the Company and
provides additional information on the balance sheet. Details of significant accounting policies,
including the criteria for recognition, the basis of measurement and the basis on which income
and expenses are recognised, in respect of each class of financial assets and financial liabilities
are disclosed.
The management has assessed that the fair value of current and non-current loan and advances,
other non-current asset, trade receivables approximate their carrying amounts largely due to the
short term maturities of these instruments.
The fair value of Investments are based on the amount at which the instrument could be
exchanged in a current transaction between willing parties, other than in a forced or liquidation
sale. The following methods and assumptions were used to estimate the fair values:
1) The fair values of the quoted equity shares and mutual funds are based on price quotations
at the reporting date.
2) Investment in Subsidiary and Associate Companies are carried at cost.
3) The fair values of the unquoted debentures, mutual fund and equity shares have been
estimated using Net Asset Value (NAV) as at reporting date.
The valuation of unquoted equity shares requires management to make certain assumptions
about the Model Inputs, including forecast of cash flows, discount rate, credit risk and volatility.
The probabilities of the various estimates within range can be reasonably assessed and are used
in management's estimate of fair value for these unquoted shares. Wherever, the probability is
low, valuation has been done based on redemption assumptions.
The significant unobservable inputs used in the fair value measurement categorized within Level
3 of the fair value hierarchy together with a quantitative sensitivity analysis as at 31st March,
2025 and 31st March, 2026 are as shown below.
19. Financial Risk Management Objectives and Policies
The Company's financial risk management is an integral part of how to plan and execute its
business strategies.
Fair Value Hierarchy
The different levels have been defined below:
Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities
Level 2: inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices)
Level 3: inputs for the asset or liability that are not based on observable market data
(unobservable inputs)
20. Disclosure relating to Trade payables:
a. There are no outstanding dues to Micro, Small and Medium Enterprises to the extent
information available with the company and the payments in respect of such suppliers are
made within the appointed day.
b. Since there is no Outstanding Trade payables which is due for payment as on 31st March
2026, hence disclosures relating to its ageing schedule are not applicable to the company.
21. Trade receivables ageing schedule:
Since there is no Outstanding Trade receivables as on 31st March 2026, hence disclosure relating to
its ageing schedule are not applicable to the company.
22. Capital work-in-progress ageing schedule:
Since Capital work-in-progress as on 31st March 2026 is NIL, hence disclosure relating to its
ageing schedule are not applicable to the company.
23. Intangible assets under development ageing schedule:
Since Intangible assets under development as on 31st March 2026 is NIL, hence disclosure relating
to its ageing schedule are not applicable to the company.
24. Disclosures pursuant to Master Direction - Reserve Bank of India (Transfer of Loan
Exposures) Directions 2021 dated 24th September 2021:
a. Details of transfer through direct assignment in respect of loans not in default:
Since the company has not given any loan which is Outstanding at the beginning of the year nor
has granted any loan during the year, hence disclosure relating to same are not applicable.
b. The company has not acquired any loan in default during the year ended 31st March 2026.
c. The Company has not transferred or acquired any stressed loan during the year ended 31st
March 2026.
25. Disclosure pursuant to RBI Master Directions, 2021 dtd. 17th February 2021.
Since the company has not given any loan which is Outstanding at the beginning of the year nor
has granted any loan during the year, hence disclosure relating to same are not applicable.
26. Disclosure relating to RBI circular dtd. 12th November 2021 and dtd. 13th March 2020:
Since the company has not given any loan which is Outstanding at the beginning of the year nor
has granted any loan during the year, hence the said circulars are not applicable.
27. The Company does not hold any immovable property either owned or leased as on 31st March
2026 and 31st March 2025, hence disclosure relating to Title deeds of immovable property held in
the name of the company and / or its revaluation are not applicable.
28. No proceedings have been initiated or pending against the Company for holding any benami
property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder, as at
31st March 2026 and 31st March 2025.
29. Since the company has not taken any borrowings from any banks and / or Financial
institutions, hence disclosure relating to filing of quarterly returns or statement of current assets
are not applicable.
30. The Company are not a declared wilful defaulter by any bank or financial Institution or other
lender, in accordance with the guidelines on wilful defaulters issued by the Reserve Bank of India,
during the year ended 31st March 2026 and 31st March 2025.
31. The Company does not have any transactions with the companies struck off under section 248
of Companies Act, 2013 or section 560 of Companies Act, 1956 during the year ended 31st March
2026 and 31st March 2025.
32. Registration of charges or satisfaction with Registrar of Companies (ROC):
Since the company has not mortgaged any property / assets whether moveable or immoveable,
nor has taken any loan, hence the same are not applicable to the company.
33. Disclosure relation to utilisation of borrowed funds for specific purpose:
The company has not taken any borrowing from any Banks and/or Financial institutions, hence
disclosure relating to Utilisation of borrowings for specific purpose are not applicable.
34. Disclosure relating to utilisation of borrowed funds and share premium:
a. The company has not taken any borrowings from any banks and/or financial institutions.
However during the year, company has made preferential allotment of 10,25,100 equity shares at
a premium of Rs. 31.50/- per share totally to Rs. 425.42 Lakhs out of which Rs. 48.00 has been
transferred to Current account maintained with ICICI Bank Ltd to meet working capital
requirement and general corporate purpose of the company.
b. The company has also not given any guarantee, security or the like to or on behalf of the
ultimate beneficiaries. Hence disclosure of the same are not applicable.
c. The company has not received any funds from any persons or entities including Foreign
entities, hence disclosure relating to the same are not applicable
* The Company is not required to comply with the guidelines on Liquidity Coverage Ratio (LCR)
in line with Master Direction - Non-Banking Financial Company - Housing Finance Company
(Reserve Bank) Directions, 2021 as at 31st March 2026 and 31st March 2025.
36. The Company has not traded or invested in Crypto currency or Virtual Currency during the
year ended 31st March 2026 and 31st March 2025.
37. Compliance with approved scheme of arrangements
The company has not applied for any scheme of arrangements with any competent authority in
terms of sections 230 to 237 of the Companies Act, 2013, hence disclosure relating to same are not
applicable.
38. Deferred taxes on Income: -
The company is entitled to create deferred tax asset/ liability in the Books of accounts with
respect to timing difference of carried forward business and depreciation losses as well as
depreciation. However, in view of carried forward business & depreciation losses there is no
reasonable certainty that the asset can be realized. Hence the deferred tax asset on account of
carried forward losses are not recognized on the ground of prudence, but Deferred Tax Assets on
account of Depreciation for the current year has been recognised in the Books of accounts, details
39. In the absence of confirmation from some of the parties and pending reconciliation the debit
and credit balances with regard to recoverable and payable have been taken as reflected in the
books. In the opinion of the Directors, Loans and Advances and Current Assets, if realized in the
ordinary course of business, have the value at which they are stated in the Balance Sheet.
40. There have been no transactions which have not been recorded in the books of accounts that
have been surrendered or disclosed as income during the year ended 31 March 2026 and 31 March
2024, in the tax assessments under the Income Tax Act, 1961. There have been no previously
unrecorded income and related assets which were to be properly recorded in the books of account
during the year ended 31 March 2026 and 31 March 2025.
41. As per Ind AS 33 "Earning Per Share'' issued by Institute of Chartered Accountant of India
the Company gives following disclosure for the year.
43. The figures of the previous year have been regrouped and recast wherever necessary to
confirm to the groupings of the current year.
44. During the year, the Company has provided Rs. NIL/ - (P.Y. NIL-), towards Non- performing
Assets in accordance with the prudential norms prescribed by Reserve Bank of India.
45. There were no outstanding Dues to Micro, Small and Medium Enterprises to the Extent
Information Available with the Company and the Payments in respect of such suppliers are
made within the appointed day.
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