1.18 Provisions and Contingent Liabilities
Provisions are recognised when the Company has a present legal or constructive obligation as a
result of past events, it is probable that an outflow of resources will be required to settle the
obligation and the amount can be reliably estimated. These are reviewed at each year end and
reflect the best current estimate. Provisions are not recognised for future operating losses.
Where there are a number of similar obligations, the likelihood that an outflow will be required in
settlement is determined by considering the class of obligations. A provision is recognised even if
the likelihood of an outflow with respect to any one item included in the same class of obligations
may be small.
Provision for product-related warranty costs is based on the claims received up to the year end as
well as the management estimates of further liability to be incurred in this regard during the
warranty period, computed based on past trend of such claims.
Provisions are measured at the present value of Management's best estimate of the expenditure
required to settle the present obligation at the end of the reporting period. The discount rate used
to determine the present value is a pre-tax rate that reflects current market assessments of the time
value of money and the risks specific to the liability. The increase in the provision due to the passage
of time is recognised as an interest expense.
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the
existence of which will be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the Company or a present obligation that
arises from past events where it is either not probable that an outflow of resources will be required
to settle the obligation or a reliable estimate of the amount cannot be made.
1.19 Employee benefits1.19.1 Short term employee benefits
All Employee benefits payable wholly within twelve months of rendering the service are
classified as short-term employee benefits and they are recognized in the period in which
employee renders the related service except leave encashment.
1.19.2 Other long-term employee benefits
Compensated absences which are not expected to occur within twelve months after the end of
the period in which the employee renders the related services are recognised as a liability at the
present value of the defined benefit obligation at the Balance Sheet date, determined based on
actuarial valuation using Projected Unit Credit Method. The discount rates used for determining
the present value of the obligation under the defined benefit plan are based on the market yields
on Government Securities as at the Balance Sheet date.
1.19.3 Defined contribution plans.
Defined contribution funds are government-administered provident fund scheme, employee
state insurance scheme for all employees. The Company also contributes towards a
Superannuation fund administered by the Employees Welfare trust. This scheme is funded by an
insurance Company in the form of a qualifying insurance policy and other permissible securities.
The Company’s contribution to defined contribution plans are recognized in the Statement of
Profit and Loss in the financial year to which they relate.
1.19.4 Defined benefit gratuity plan.
The Company’s gratuity benefit scheme is a defined benefit retirement plan covering eligible
employees. The Company’s net obligation in respect of the gratuity benefit scheme is calculated
by estimating the amount of future benefit that employees have earned in return for their service
in the current and prior periods; that benefit is discounted to determine its present value and the
fair value of any plan assets is deducted.
The present value of the obligation under such a defined benefit plan is determined based on
actuarial valuation using the Projected Unit Credit Method.
The obligation is measured at the present value of the estimated future cash flows. The discount
rates used for determining the present value of the obligation under the defined benefit plan are
based on the market yields on Government Securities as at the Balance Sheet date.
Actuarial gains and losses 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. Past service cost is recognised in the statement of profit and loss in the period of plan
amendment.
1.20 Earnings per share (EPS)
Basic EPS is computed by dividing the net profit attributable to the equity holders of the Company
by the weighted average number of equity shares outstanding during the period. Diluted earnings
per share are computed by dividing net profit attributable to the equity holders of the Company by
the weighted average number of equity shares considered for deriving basic earnings per share and
the weighted average number of equity shares that could have been issued upon conversion of all
dilutive potential equity shares unless the results would be anti-dilutive. The dilutive potential
equity shares are adjusted for the proceeds receivable had the equity shares been actually issued
at fair value (i.e., the average market value of the outstanding equity shares). Dilutive potential
equity shares are deemed converted as of the beginning of the period, unless issued at a later date.
Dilutive potential equity shares are determined independently for each period presented.
1.21 Exceptional items
Certain occasions, the size, type, or incidence of an item of income or expense, pertaining to the
ordinary activities of the Company is such that its disclosure improves the understanding of the
performance of the Company, such income or expense is classified as an exceptional item and
accordingly, disclosed in the notes accompanying to the financial statements.
1.22 Fair value measurement
In determining the fair value of its financial instruments, the Company uses a variety of methods
and assumptions that are based on market conditions and risks existing at each reporting date. The
methods used to determine fair value include discounted cash flow analysis, available quoted
market prices and dealer quotes. All methods of assessing fair value result in a general
approximation of value, and such value may never actually be realized.
1.23 Research and development expenditure
Research and Development expenditure is charged to revenue under the natural heads of account
in the year in which it is incurred. Research and Development expenditure on property, plant and
equipment is treated in the same way as expenditure on other property, plant, and equipment.
1.24 Events after the reporting date
Where events occurring after the Balance Sheet date provide evidence of conditions that existed at
the end of the reporting period, the impact of such events is adjusted within the Financial
Statements. Otherwise, events after the Balance Sheet date of material size or nature are only
disclosed.
1.25 Non-current assets held for sale
The Company classifies non-current assets as held for sale if their carrying amounts will be
recovered principally through a sale rather than through continuing use of the assets and actions
required to complete such sale indicate that it is unlikely that significant changes to the plan to sell
will be made or that the decision to sell will be withdrawn. Also, such assets are classified as held
for sale only if the management expects to complete the sale within one year from the date of
classification. Non-current assets classified as held for sale are measured at the lower of their
carrying amount and the fair value less cost to sell. Non-current assets are not depreciated or
amortised.
1.26 Government Grant
Government grants are recognised when there is reasonable assurance that conditions will be met
and the grant will be received. Grants for assets are recognised in profit or loss over the asset's life,
either by reducing the asset's carrying amount or as deferred income.
Government grants relating to income are deferred and are recognised in Statement of Profit and
Loss over the period necessary to match them with the costs that they are intended to compensate
for, and are presented within other income.
Government grant relating to export incentives - refer to note 1.4.1
1.27 Key accounting estimates and judgements
Preparation of the Financial Statements requires the use of accounting estimates, judgments, and
assumptions, which, by definition, will seldom equal the actual results. Appropriate changes in
estimates are made as the management becomes aware of changes in the circumstances
surrounding the estimates. Changes in estimates are reflected in Financial Statements in the period
in which changes are made and if material, their effects are disclosed in the notes to the Financial
Statements. This note provides an overview of the areas that involve a higher degree of judgment
or complexity, and of items which are more likely to be materially adjusted due to estimates and
assumptions turning out to be different from those originally assessed. Detailed information about
each of these estimates and judgments is included in relevant notes together with information
about the basis of calculation for each affected line item in the Financial Statements.
The areas involving key accounting estimates or judgments are:
• Estimation of useful life of tangible and intangible assets.
• Estimation of defined benefit obligations.
• Fair value measurement.
• Impairment
Estimates and judgments are continually evaluated. They are based on historical experience and
other factors, including expectations of future events that may have a financial impact on the
Company and that are believed to be reasonable under the circumstances.
11.1 With respect to Unit 2, the Company has received almost full consideration for Non-current Assets held for sale vide
Memorandum of Understanding dated 21st February, 2025. All movable assets were disposed off during FY 2025¬
26. As of March 31, 2026, the transfer documents pertaining to immovable properties are in the process of
finalisation.
11.2 The fair value less cost of disposal being higher than the carrying value of the ROU-Land, this asset was not restated,
and was classified as Non-Current Assets held for Sale at the Carrying Value. The 2 Acres of Land is situated within
the factory premises Unit I located at MIDC, Kolhapur, Maharashtra.
11.3 During the year, movable items of PPE having a carrying value of Rs. 37.34 Lakhs were classified as assets held for
sale, and the same assets were disposed off during the year.
d) The Company has only one class of shares issued, and paid-up capital is referred to as equity shares having a par
value of Rs. 2 per share. Each holder of equity shares is entitled to one vote per share.
e) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the remaining
assets of the Company, after payment of all external liabilities. The distribution will be in proportion to the number
of equity shares held by the shareholders.
Nature and purpose of other equity
a) Capital reserve
Capital reserve represents excess/short of net assets acquired in business combination. It is not available for the
distribution to shareholders as dividend. Rs. 20 lakhs taken over from Manuweb International Limited (Manuweb)
during the year ended March 31, 1995. Rs. 50 lakhs is Capital Subsidy received from State Government and Rs. 2
lakhs on amalgamation of Constrad Agencies (Bombay) Private Limited with the Company.
b) Capital reserve - on amalgamation.
Capital reserve represents excess of net assets acquired in past amalgamation. It is not available for the distribution
to shareholders as dividend. Taken over from erstwhile Manuweb on amalgamation: Pursuant to the Scheme of
Amalgamation of Manuweb with the Company, sanctioned by the Bombay Hon'ble High Court vide order dated 30th
March, 1995, the assets and liabilities of Manuweb were transferred to and vested in the Company with effect from
1st April, 1994. Accordingly, effect has given to the scheme in the accounts.
c) Capital redemption reserve.
In accordance with Section 69 of the Companies Act, 2013, the Company has created capital redemption reserve
equal to the nominal value of the shares bought back as an appropriation from general reserve. Created by transfer
from General Reserve during the year ended March 31, 2002 pursuant to the buy back of equity shares.
d) Securities premium
Securities premium account is used to record the premium on issue of shares. The reserve will be utilised in
accordance with the provision of the Companies Act, 2013.for issue of bonus shares, for writing of preliminary
expenses, buy back of shares etc. The issue expenses of securities which qualify as equity instruments and are
written off against securities premium.
e) General reserve
The General reserve has been created in accordance with the requirements of the Companies (Transfer of Profit to
Reserve) Rules, 1975. General Reserve represents amount appropriated out of retained earnings pursuant to the
erstwhile provisions of the Companies Act, 1956. Mandatory transfer of general reserve is not required under the
Companies Act, 2013.
f) Retained earnings
Retained earnings are the profits that the Company has earned till date, less, any transfers to general reserve, any
transfers from or to other comprehensive income (loss), dividends or other distributions paid to shareholders.
b. Disclosure in accordance with Ind AS-19 "Employee Benefits"
Gratuity
The Company provides gratuity to all employees. The benefit is in the form of lumpsum payments to vested employees on
resignation, retirement, death while in employment or on termination of employment, of an amount equivalent to 15 days
basic salary and dearness allowance for each completed year of service. Vesting occurs upon completion of five years of
service. The Company makes annual contributions to fund administered by trustees and managed as per IRDA guidelines
for. The gratuity benefit is a defined benefit plan.
The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation
as it is unlikely that the change in assumptions would clear in isolation of one another as some of the assumptions may
be correlated.
Further more, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been
calculated using the projected credit method at the end of the reporting period, which is the same as that applied in
calculating the defined benefit obligation liability recognised in the balance sheet.
There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.
Risks associated with defined benefit plan
Gratuity is defined benefit plan and the Company is exposed to the following risks:
(i) Actuarial risk
It is the risk that benefits will cost more than expected. This can arise due to one of the following reasons:
Adverse Salary Growth Experience: Salary hikes that are higher than the assumed salary escalation will result into
an increase in Obligation at a rate that is higher than expected.
Variability in mortality rates: If actual mortality rates are higher than assumed mortality rate assumption than the
Gratuity Benefits will be paid earlier than expected. Since there is no condition of vesting on the death benefit, the
acceleration of cashflow will lead to an actuarial loss or gain depending on the relative values of the assumed salary
growth and discount rate.
Variability in withdrawal rates: If actual withdrawal rates are higher than assumed withdrawal rate assumption
than the Gratuity Benefits will be paid earlier than expected. The impact of this will depend on whether the benefits
are vested as at the resignation date.
(ii) Investment risk
For funded plans that rely on insurers for managing the assets, the value of assets certified by the insurer may not
be the fair value of instruments backing the liability. In such cases, the present value of the assets is independent of
the future discount rate. This can result in wide fluctuations in the net liability or the funded status if there are
significant changes in the discount rate during the inter-valuation period.
(iii) Liquidity risk
Employees with high salaries and long durations or those higher in hierarchy, accumulate significant level of
benefits. If some of such employees resign/retire from the company there can be strain on the cashflows.
(iv) Market risk:
Market risk is a collective term for risks that are related to the changes and fluctuations of the financial markets.
One actuarial assumption that has a material effect is the discount rate. The discount rate reflects the time value of
money. An increase in discount rate leads to decrease in Defined Benefit Obligation of the plan benefits & vice versa.
This assumption depends on the yields on the corporate/government bonds and hence the valuation of liability is
exposed to fluctuations in the yields as at the valuation date.
(v) Legislative risk:
Legislative risk is the risk of increase in the plan liabilities or reduction in the plan assets due to change in the
legislation/regulation. The government may amend the Payment of Gratuity Act thus requiring the companies to
pay higher benefits to the employees. This will directly affect the present value of the Defined Benefit Obligation and
the same will have to be recognized immediately in the year when any such amendment is effective.
b Disclosure on CSR activities
The Company is not required to spend money on CSR activities during the current financial year and the previous
year. Amount spent by the company during the year is Rs. Nil (Previous year Rs. Nil)
28 Exceptional items
28.1 Compensation to retired employees (age above 55 years)
The Company has signed consent terms with the Manugraph Employees Union on 20.09.2024 for retirement
of workmen age above 55 years. The liability under the consent terms aggregating to Rs. 106.90 lakhs
(Previous year Rs. 1,179.31 lakhs) to be paid to such employees.
28.2 Gain on disposal of property
During the year ended 31st March 2026, the Company has disposed off all movable assets located at Kolhapur
Unit 2 resulting in gain on disposal of Rs. 218.75 lakhs.
29 Current and deferred tax
The major components of income tax expenses for the year ended March 31, 2026, and March 31, 2025 are:
a. No aggregate amounts of current and deferred tax have arisen in the reporting periods which have been
recognised in equity.
The earning per share before exceptional item has been computed after considering the current and deferred tax effect
on the exceptional item.
31 Disclosure as required by Ind AS 116 "Leases".
a. As a Lessee
The Company had taken a residential premises under operating lease during previous year, having the lease term
of less than 12 months and has no obligation for renewal. These leases are considered by the Company as short
leases in accordance with Ind AS 116, consequently these lease payments are recognised in the statement of
profit and loss under "Rent" in Note 27.
32 Disclosure as required by Ind AS 108 "Segment Reporting."
Based on the "management approach" as defined in Ind AS 108, the Chief Operating Decision Maker (CODM)
evaluates the Company's performance In accordance with IND AS "Operating Segment", The Company has only
one reportable operating segment i.e. Engineering.
There are 2 major customers to whom more than 10% of the sales are effected and the total sales effected from
such customers is Rs.2,440.00 lakhs, (P. Y. Rs.1506.24 lakhs).
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes listed
equity instruments and mutual funds that have a quoted price. The fair value of all equity instruments which are
traded in the stock exchanges is valued using the closing price as at the reporting period. The mutual funds are
valued using the closing net assets value (NAV).
Level 2: The fair value of financial instruments that are not traded in an active market (for example over- the-
counter derivatives) is determined using valuation techniques which maximise the use of observable market
data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an
instrument are observable, the instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is
included in level 3.
b Valuation technique used to determine fair value
Specific valuation techniques used to value financial instruments include:
(i) The use of quoted market prices or dealer quotes for similar instruments
(ii) The fair value of interest rate swaps is calculated as the present value of the estimated future cash flows
based on observable yield curves.
(iii) the fair value of forward foreign exchange contracts are determined using forward exchange rates at the
Balance Sheet date
(iv) The fair value of foreign currency option contracts is determined using the Black Scholes valuation model.
(v) The fair value of the remaining financial instruments is determined using discounted cash flow analysis.
(vi) All of the resulting fair value estimates are included in level 1 and 2.
c Valuation processes
The finance department of the Company includes a team that performs the valuations of financial assets and
liabilities required for financial reporting purposes, including level 3 fair values. This team reports directly to
the Chief Financial Officer (CFO).
The carrying amounts of trade receivables, trade payables, other receivables, short-term security deposits, bank
deposits with more than 12 months maturity, capital creditors and cash and cash equivalents including bank balances
other than cash and cash equivalents are considered to be the same as their fair values due to the current and short¬
term nature of such balances.
The fair values of non-current borrowings are based on discounted cash flows using a current borrowing rate. They are
classified as level 3 fair values in the fair value hierarchy due to the use of unobservable inputs, including own credit
risk.
For financial assets and liabilities that are measured at fair value, the carrying amounts are equal to the fair values.
37 Financial risk factors
The Company's activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The
Company's primary risk management focus is to minimize potential adverse effects of market risk or its financial
performance. The Company's risk management assessment, policies and processes are established to identify and
analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and
compliance with the same. Risk assessment and management policies and processes are reviewed regularly to reflect
changes in market conditions and the Company's activities. The Board of Directors and the Audit Committee is
responsible for overseeing the Company's risk assessment and management policies and processes.
The Company has exposure to the following risks arising from financial instruments:
(i) Credit risk
(ii) Liquidity risk
(iii) Market risk
Credit Risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to
meet its contractual obligations. This exposure is principally from the Company's receivables from customers. Credit
risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness
of customers to which the Company grants credit terms in the normal course of business. The company has established
norms for stage wise payments to lower the exposure. International transactions are backed by Letters of credit,
confirmed by reputed banks, wherever found necessary. The Company establishes an allowance for doubtful debts and
impairment that represents its estimate of incurred losses in respect of trade and other receivables and investments.
The Company takes a significant advance for its machine and has no history of any significant defaults from the
customers end in payment of the sale consideration. And therefore has no history of expected credit loss.
Trade receivables
The Company's exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
demographics of the customer, including the default risk of the industry and country in which the customer operates,
also has an influence on credit risk assessment. Credit risk is managed through credit approvals, establishing credit
limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the
normal course of business.
Summary of the Company's exposure to credit risk by age of the outstanding from various customers is as follows
(before allowance for doubtful debts):
Cash and cash equivalents
The Company held cash and cash equivalents and other bank balances with credit worthy banks and financial
institutions of Rs. 262.52 lakhs (31 March 2025 Rs. 299.15 lakhs). The credit worthiness of such banks and financial
institutions is evaluated by the management on an ongoing basis and is considered to be good.
Liquidity Risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The
Company manages its liquidity risk by ensuring, as far as possible, that it will always have sufficient liquidity to meet its
liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risk to the
Company's reputation.
As of 31st March 2026, the Company has working capital of Rs. (527.76) lakhs (31 March 2025: Rs. (1,867.39) lakhs)
which is calculated as current assets less current liabilities.
Investment Risk
Presently, the Company do not have any subsidiary, associates or joint venture.
Market Risk
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from adverse changes
in market rates and prices (such as interest rates, foreign currency exchange rates) or in the price of market risk-
sensitive instruments as a result of such adverse changes in market rates and prices. Market risk is attributable to all
market risk-sensitive financial instruments, all foreign currency receivables and payables and all short term and non¬
current. The Company is exposed to market risk primarily related to foreign exchange rate risk, interest rate risk and
the market value of its investments. Thus, the Company's exposure to market risk is a function of investing and
borrowing activities and revenue generating and operating activities in foreign currencies.
Currency Risk
The fluctuation in foreign currency exchange rates may have potential impact on the profit and loss account, where any
transaction references more than one currency or where assets/liabilities are denominated in a currency other than
the functional currency of the entity.
Considering the countries and economic environment in which the Company operates, its operations are subject to
risks arising from fluctuations in exchange rates in those countries. The risks primarily relate to fluctuations in USD
and EURO against the respective functional currency of the Company.
The Company does not use any derivative financial instruments to hedge foreign exchange and interest rate exposure.
The company continuously monitors the foreign currency exposures and considering the natural hedge, selectively
contracts for plain forward covers whenever found necessary.
38 Financial risk management
a) Management of liquidity risk
The Company's principal sources of liquidity are cash and cash equivalents, borrowings and the cash flow that is
generated from operations. The Company believes that current cash and cash equivalents, tied up borrowing lines and
cash flow that is generated from operations is sufficient to meet requirements. Accordingly, liquidity risk is perceived to
be low.
39 Capital management
Risk management
The primary objective of the Company's Capital Management is to maximise shareholder value. The Company
monitors capital using debt-equity ratio, which is total debt divided by total capital plus total debt.
For the purposes of the Company's capital management, the Company considers the following components of its
Balance Sheet to be managed capital:
Total equity as shown in the Balance Sheet includes General reserve, retained earnings, Share capital, Security
premium. Total debt includes current debt plus non-current debt and subtracting cash and cash equivalents.
The Company manages its capital structure and makes adjustments in light of changes in economic conditions. To
maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return
capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is total
capital divided by net debt.
40 The financial statements were authorised for issue by the Board on May 19, 2026
41 EVENTS AFTER THE REPORTING PERIOD
The Company evaluates events and transactions that occur subsequent to the balance sheet date but prior to
approval of financial statement to determine the necessity for recognition and/or reporting of any of these
events and transactions in the financial statements. As of May 19, 2026, there were no material subsequent
events to be recognised or reported that are not already disclosed.
42 Previous period figures have been re-grouped / re-arranged / reclassified wherever necessary to make them
comparable with those of the current period. The standalone financial statements were drawn up in Rupees,
amounts are rounded off to the nearest Lakhs. Adding the individual figures may therefore not always tally with
the total figure.
43 ADDITIONAL REGULATORY INFORMATION
(i) Title deeds of all the immovable properties are in the name of the Company.
(ii) The Company follows cost model for the subsequent measurement of Property, Plant and Equipment and
consequently has not revalued its property, plant and equipment (including right-of-use assets) or intangible
assets during the current financial year or the previous financial year.
(iii) The Company has not made 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:
a. repayable on demand or
b. without specifying any terms or period of repayment
(iv) There is no Capital Work in Progress ('CWIP') or Intangible Assets Under Development (ITAUD'), hence no
ageing schedule and other relevant details concerning completion or overdue.
(v) No proceedings have been initiated or pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
(vi) The Company has not availed of any working capital facilities from any bank or financial institution during the
years.
(vii) The Company has not been declared a willful defaulter.
(viii) The Company has no relationship with any struck-off Company\companies.
(ix) All the charges or the satisfaction of the charges have been registered with the registrar of companies within the
stipulated time limit.
(x) The Company has 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.
(xi) The Company has no subsidiary during the current financial year.
(xii) The Company has not made any application for Scheme of Arrangements.
(xiii) Utilisation 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).
B. The Company has not received any funds from any person(s) or entity (ies), including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otherwise).
(xiv) The Company has not entered into any such transaction which is not recorded in the books of accounts that has
been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act,
1961.
(xv) The Company is not covered under Section 135 of the Companies Act 2013.
(xvi) The Company has not traded or invested in crypto currency or virtual currency during the financial year.
|