l. Contingent Liabilities / Provisions:
The Company creates a provision when there is a 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 the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent liabilities are not provided in the accounts and are disclosed separately in notes to accounts.
Notes:
(i) Rights of Equity Shareholders
The Company has a single class of Equity Shares. Each Shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders. In the event of liquidation, the Equity Shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.
Methodology :
1. Current Ratio = Current Asset/Current Liability
2. Debt-Equity Ration = Total Debt/(Total Debt Equity)
3. Debt Service Coverage Ratio = EBITDA/Finance Cost
4. Return on Equity Ratio = Profit After Tax/Total Shareholder's Equity
5. Inventory Turnover Ratio = Purchase/Inventory
6. Trade Receivable Turnover Ratio = Revenue from Operations/Trade Receivable
7. Trade Payables turnover ratio = Purchase/Trade Payable
8. Net Capital turnover ratio = Revenue From Operations/(Current Asset - Current Liability)
9. Net Profit ratio = Profit After Tax/Revenue From Operations
10. Return on Capital Employed = Earning before Interest and Taxes/(Total Shareholder's Equity Long Term Liability)”
Reason for more than 25% variance in ratio:
1. During the year, there is significant increase in Turnover and Profitalibity. Hence, relevant ratios are changed significantly as compare to previous year.
2. During the year, Company has issued the Bonus Share.Therefore, Equity is significantely increased. Hence, relevant ratios are changed significantly as compare to previous year.
Note 30. Loans Given, Investment Made and Guarantee given covered under sec. 186(4) of the Companies Act, 2013:
(i) The Company has not given any loans or guarantees other than shown in Financial statements.
(il) The Company has not made any Investments other than shown in Financial statements.
Note 31. Contingent Liabilities
a) Company has given Bank Guarantee of Rs. 580.00 Lakh to Cantonment Board, Kamptee, Nagpur, Maharashtra through Central Bank of India towards performance for execution of Development of Land in the Cantonment Area as on 24.11.2022. Company has submitted the Fixed Deposit for Security of said Bank Guarantee.
b) Company has given Bank Guarantee of Rs. 12.50 Lakh to Cantonment Board, Kamptee, Nagpur, Maharashtra through Central Bank of India towards performance for execution of Development of Land in the Cantonment Area as on 09.11.2023. Company has submitted the Fixed Deposit for Security of said Bank Guarantee.
Note 32. General
“31.1 In the opinion of the Management, current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the Books of Accounts and provision for all known liabilities has been made, except as mentioned otherwise."
Note 33. The Reporting under Rule 11 (g) of the Companies (Audit and Auditors) Rules, 2014 is applicable from 1 April 2023.
Based on our examination which included test checks, the Company has used accounting softwares for maintaining its books of account, which have a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the respective software.
Note 34. The figures of previous year have been regrouped / rearranged/reclassified wherever necessary to comparable to the classification of the current year.
For RHAD and Company For and on behalf of Board of Director
Chartered Accountants
(ICAI Firm Registration No. 102588W) Yash Gupta Sachin Gupta
Wholetime Director Managing Director
Dinesh Bangar DIN 02331896 DIN 07289877
Partner
Membership No. 036247 Pankhuri Gupta Toshiba Jain
Chief Financial Officer Company Secretary
Place : Nagpur PAN: AYQPG3689K PAN: AOJPJ8945C
Date : 21/05/2024
Place : Nagpur Place : Nagpur
Date : 21/05/2024 Date : 21/05/2024
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