XIV. Provisions, Contingent Liabilities and Contingent Assets:
Provisions:
(i) Provision is recognized in the accounts when there is a present
obligation as a result of past event(s) and it is probable that an outflow
of resources will be required to settle the obligation and a reliable
estimate can be made. Provisions are not discounted to their present
value and are determined based on the best estimate required to settle
the obligation at the reporting date. These estimates are reviewed at
each reporting date and adjusted to reflect the current best estimates.
(ii) During the year movements in provisions were made are as under:
Contingent Liabilities:
(iii) A Contingent liability is a possible obligation that arises from the past
events whose existence will be confirmed by the occurrence or non¬
occurrence of one or more uncertain future events beyond the control
of the company or a present obligation that is not recognized because
it is not probable that an outflow of resources will be required to settle
the obligation. A contingent liability also arises in extremely rare cases
where there is liability that cannot be recognized because it cannot be
measured reliably. The company does not recognize a contingent
liability but discloses its existence in the financial statements.
Contingent Assets:
(iv) Contingent assets are not recognized
XV. Cash Flow Statement:
(i) The cash flow statement is prepared using the "indirect method” set out
in Accounting Standard 3 "Cash Flow Statements” and presents the
cash flows by operating, investing and financing activities of the
Company. Cash and cash equivalents presented in the cash flow
statement consist of cash on hand and unencumbered, highly liquid
bank balances.
XVI. Trade Receivables:
(i) Trade receivables are recognized at transaction price.
XVII. Trade and other Payables:
(i) These amounts represent liabilities for goods and services provided to
the Company prior to the end of the financial year which are unpaid.
These amounts are unsecured and usually paid within the operating
cycle of the Company. Trade and other payables are presented as
current liabilities unless payment is not due within twelve months after
the reporting period. They are recognized initially at their fair value.
XVIII. Goods & Service Tax (GST):
(i) GST is accounted for at the time of goods or services supplied to
customers.
XIX. Segment Reporting:
(i) In accordance with Accounting Standard-17 - "Segment Reporting”
issued by the Institute of Chartered Accountants of India is not
applicable as the Company has mainly one business segment i.e. " Raw
unfiltered edible maize oil and cake.". There are no other primary
reportable segments. The major and material activities of the company
are restricted to only one geographical segment i.e. India, hence the
secondary segment disclosures are also not applicable.
3. Notes to financial statements:
I. Utilization of Fund raised through Initial Public Offering.
(i) On 1 February, 2024, the Company has raised Rs. 1944.00 Lakhs
through Initial Public Offer, and thereafter utilized the funds as under.
(ii) The Company had initially projected an expenditure of ? 145.00 lakh for
IPO-related expenses. However, only ? 119.22 lakhs were utilized for
this purpose. Unutilized funds of ? 25.78 have been invested in Fixed
Deposit with HDFC Bank.
(iii) The Company raised ? 400.00 lakh for general corporate purposes and
this General Corporate Purpose includes business acquisition and
Company has utilised Rs. 400.00 Lakh in acquiring M/s. Ajay Industries.
(iv) The Company raised ?184.33 lakhs for the acquisition of plant and
machinery. Out of this amount, ?135.94 lakhs have been utilized for the
intended purpose. The remaining funds have been invested in Fixed
Deposit with HDFC Bank.
(v) The Company has invested ? 75.00 Lakhs in Fixed Deposit with HDFC
Bank.
(vi) The Company has Rs. 0.44 Lakhs in the separate bank account for
unutilized funds.
In the Previous Year, ? 1,764.00 Lakhs proceeds were received as Securities Premium from the
issue of shares and incurred expenses of ? 33.10 lakhs for issue of shares and the said has been
written off aga i nst share premium received in such issue of shares.
Nature of Reserve and Surplus
Capital Reserves
In the Current Year, ? 18.68 Lakhs were generated on Acquisition of Ajay Industries.
Securities Premium
Securities premium is used to record the premium on issue of shares. This reserve shall be utilised
in accordance with the provisions of the Companies Act, 2013.
Statement of Profit and loss
Accumulated Profit & Loss are the profit/ (Loss) that the Company has earned/incurred till date less
any transfer to general reserve, dividends or other distribution paid to shareholders.
Reasons for Variances
c) Due to increase in Revenue, decrease in Operating Costs, repayment of debt, so the ratio has
changed.
g) Company is efficiently managing its payments to suppliers, potentially improving its
creditworthiness and negotiating power.
j) Due to increase in Revenue, decrease in Operating Costs, Improved inventory management. So,
the ratio has improved.
NOTE 47: CSR Expenditure
Nature of CSR activities
Provisions of Corporate Social Responsibility are not applicable to the Company for the year ended
on 31st March, 2025
NOTE 48: Details of Crypto Currency
The Company has not traded or invested in Crypto Currency or Virtual Currency during the year
ended on 31st March, 2025 & Financial Year ended 31st March, 2025
NOTE 49: Other Statutory Disclosures as per the Companies Act, 2013
a) The company has not entered into any scheme of arrangement approved by the Competent
Authority in terms of sections 230 to 237 of the Companies Act, 2013.
b) There are no dividends proposed to be distributed to equity and preference share holders.
c) The Board of the Company is of the opinion that the assets other than Property, plant and
equipment, Intangible assets and Non-current investments have a value on realization in the ordinary
course of business at least equal to the amount at which they are stated.
NOTE 50: Subsequent Events
There has not been any reportable subsequent events happened after reporting date.
NOTE 51: Regrouping
The company has regrouped / rearranged previous year figures in view of easy comparison with
current year figures.
As per our report of even date
For M/s. J C RANPURA & CO For and on behalf of the Board of
Chartered Accountants Mayank Cattle Food Limited
Firm's Registration No. 108647W (Formally Known as Mayank Cattle Food Private Limited)
Ketan Y. Sheth Ajay P Vachhani Bharat P Vachhani
Partner Whole time Director Managing Director
Membership No. 118411 DIN: 00585290 DIN: 00585375
UDIN: 25118411BMHVFO6193
Ankit B Vachhani Payal M Pandya
Chief Financial Officer Company Secretary
M No.: A53251
Place: Rajkot Place: Rajkot
Date: 06 May 2025 Date: 06 May 2025
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